Up until a few years ago the hiring funnel consisted of 2 elements- the upper cone and a narrow stem. Sourcing candidates filled the cone and after completing a simple application and quick interview, many employees were hired. Companies filled the cone by publicizing job openings in classified ads and word of mouth. Since job skill requirements were lower (stem was wider) and labor was abundant (endless source of candidates to fill the cone), it worked.
The then things shifted. Global competition, technological changes, economic volatility, and aging demographics all converged. Companies reengineered and even reinvented themselves. They needed fewer but smarter and more skilled workers. Now, the funnel now needed to change.
Today’s hiring funnel has more layers to help employers avoid hiring mistakes; find the right people for the job rather than the wrong ones and weed out tire kickers and those who apply to everything.
For every job, applicants go in at the top of the funnel, but only a single final candidate comes out at the bottom. That single person, who is determined to be best qualified, is the one who gets the job offer.
What happens in the hiring process between the top of the funnel and the bottom of the funnel? Find out more about how to have a more effective hiring process.