Deposits and Withdraws
How to give as much as receive when interviewing passive candidates
By Matthew Cohen, Practice Leader of Energy & Sustainability and HVAC/R
May 3, 2017
When interviewing a candidate for a job, the goal is discovering as much information as possible in order to decide if the person we are interviewing is the right fit for the position. However, when interviewing passive candidates, i.e. those candidates who are currently working and are possibly being recruited, we often forget that the candidate is looking for information to decide if the position and the organization is right for them. I regularly debrief candidates after interviews who tell me they left the interviews without knowing the full scope of the position or important information on the company even when they asked specific questions directly.
When interviewing a passive candidate, it is vital that we provide or “deposit” as much information as we “withdraw” from the candidate to keep the candidate engaged and provide them information for them to make a decision that is best for them. Below are areas hiring managers can deposit important information that will engage passive candidates:
- Company Benefits- With the ever-changing landscape in employer based healthcare, it is crucial that candidates understand the company’s benefits to know what it will cost them per month. In some cases, we see a 5-10K difference in out of pocket healthcare costs which can affect what salary a candidate will accept. Healthcare providers in network, dental, and vison coverage are also important information. If possible, I recommend the hiring manager shares this information before any final interview so that the candidate can ask any clarifying questions. Vacation, 401k and any other company benefits are also advantageous to share prior to an offer made to a candidate.
- Compensation Structures- While a base salary may be tough to share prior to an offer being made, other aspects of compensation are vital information so that the candidate can understand how they will be paid. Passive candidates should understand how compensation that may include commissions, quarterly, or year bonuses are calculated and paid out so they can ascertain what salary they will ultimately accept.
- Company Achievements- When interviewing candidates, we always look to understand their achievements and metrics that show they have a proven track record of success. It should be no different for the company they are interviewing with. Company growth, awards, recent successes and upcoming projects or growth are valuable pieces of information to deposit when interviewing passive candidates.
We understand there needs to be a balance between what we withdraw and deposit when interviewing passive candidates. Those hiring managers that pay attention to this balance we find have the most success landing the best talent.