Why Big 4 Firms are Attracting Top Talent and How to Stand Out in the Hiring
Most employees aim to enter the big four consulting firms, Deloitte, E&Y, PWC, and KPMG, due to their expanding presence and strengthening of their platforms in India
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The big four companies
In fact, the big four companies have become one of the top recruiters of IT talent laterally. The big four typically are recruiting from top IT companies. And these big four are no longer just accounting firms. Since technology has begun to play a major role, data analytics, consulting and forensic services are all needing technology professionals. The big four are able to pay better salaries and give annual increases in line with global standards. The big four are able to pay about 15 to 20% more than their Indian counterparts. Also working with the big four means that opportunities to work onsite are greater. Multinational IT companies have become a fertile ground where the big four are hunting for good talent.
How do you stand up to the big four and better your own hiring process? Let us examine how companies can build a robust hiring process to win the war for talent. Other than competitive salary packages, there are other things that the Big 4 do in order to reach out and stand out to their ideal candidates. You can also stand out to potential candidates by asking yourself these 5 questions
Are your job descriptions interesting?
Applicants generally think that job descriptions are boring as they see the same pattern everywhere. It is important to make your job descriptions tell the applicant about the potential of the role and speak about the job very clearly. Job descriptions should be well-written, engaging and easily understandable. They can include a generic description of the duties and responsibilities of the position. Ensure that whatever you write is concise, short and tightly written. You can also include the company’s vision, mission, values, purpose and why your company is a great place to work in. This will attract those who share the same values and they will stay engaged with the company.
Does your company have a good brand presence?
There are several aspects to this. Firstly, you must have a great website and a good careers page. Your company must engage on social media by posting meaningful content and have interactions with potential candidates. Talk about your company’s work cultures, values, products, achievements and company history. Let potential applicants know the strong points about the organization which will help them make a decision to join you. Most applicants research about an organization online before they join so ensure that most of this information is easily available on a simple online search. Your HR and marketing teams could work together to create a good online brand presence to attract potential employees.
What are the competitive benefits that your company offers?
Candidates look to join companies for various reasons. For some it is the company work culture that is more attractive, in other cases it is to expand their skills and experience and in most cases it is because of the compensation and benefits. Irrespective of that, you must be seen as an employer that cares and offers opportunities for growth. Ensure that your offer includes competitive compensation with perks and benefits that are possible. Opportunities for career planning and growth should also be outlined. Also outlining the opportunities for training, learning and development will showcase your interest in the welfare of your employees. You could also showcase how you have a work environment that promotes employee safety, comfort, creativity, motivation and diversity which are all very appealing to potential employees.
How responsive is your hiring team?
Hiring managers must be responsive and get back to potential candidates on time. This builds the profile of the employer in the minds of applicants. If someone fulfills all the criteria and has done well in the interview, be quick and send them an offer letter immediately. If not, provide feedback and respond immediately instead of keeping people hanging. Do not keep interviewees waiting for long periods and be on time for scheduled interviews. It does not take long to make a decision on a candidate. There is no need to rush through the screening process but it is wrong to keep people waiting for too long as they will lose interest. As a hiring manager, you must be available to answer any queries that they may have and be available.
How effective are your engagement and retention plans?
The first step any company has to go through is to attract talent and hire them. However, post that, you need to focus on a good onboarding process, continuous monitoring, coaching and mentoring your people. New recruits must be inducted into the company culture and engaged in meaningful work. Technology has advanced and it is easy to achieve a lot of this using IT, giving yourself a competitive advantage. Attracting and recruiting top talent is important but equally important is to retain and engage people. So, ensure you are on top of the game there as well.
Despite the fact that the big four firms attract the cream of talent, with good preparation and planning, it is possible for every company to be attracting and hiring top talent. Building an employer brand is therefore important and can give you the competitive edge to stand out in the hiring process.