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Experienced hiring managers already know the value of “silver medal” candidates, those who sailed through multiple rounds of interviews but–for one reason or another–didn’t land the job offer in the end. These are highly qualified, expertly vetted and often valuable industry leaders. At a different company, for a different role, chances are good that candidate would get the job. That’s why we built Finalist — to connect those candidates to those roles.

The Path to Hire

  • CANDIDATE
     
    A typical candidate starts searching for a new job by asking around in their network, searching job boards, and targeting specific companies. Once they apply, if they’ve made it through the initial resume black-hole, they’re then subject to multiple rounds of individual and group interviews, skills tests, and many hours/days away from their current employer.. After what may feel like a drawn-out process, those candidates that make it to the final round start to truly believe the role is theirs.
  • EMPLOYER
     
    A typical hiring manager / in-house recruiter starts a search with around 250 resumes. Only 2% of those candidates make it through the initial resume review process. After multiple rounds of interviews and skills tests, most have secured anywhere from two to five final round candidates. These high-quality few demonstrate four key positive indicators:

    1. They are open to changing jobs
    2. Their experience matches their resume
    3. They are able to show an expertise in their chosen field and are highly qualified for the role
    4. They are one of the top candidates available
  • CANDIDATE
     
    No matter how politely the hiring manager phrases the rejection, it can be understandably difficult for the candidate to hear.
  • EMPLOYER
     
    Once a company makes a hire, the rest of the final-round candidates get rejected.
  • CANDIDATE
     
    Most job candidates rationally know that if they made it to the final rounds of an interview process and didn’t land the position, the decision wasn’t a personal slight by the company. The hiring manager simply went with the candidate who they believed fit better into the specific budget, culture, or demands of the role for which they were hiring.
  • EMPLOYER
     
    Many employers spend the bulk of their time focused on improving the hiring process, but have fallen short on the rejection experience. While it can be a company’s best intention to hold onto silver medalists for future roles, this rarely happens for a variety of reasons – from a candidate’s own waning interest to an employer not having anything timely.
  • CANDIDATE
     
    But no matter how much a candidate knows that the hiring manager’s choice was a business decision, finding out they didn’t get a job can feel like a gut punch.
  • EMPLOYER
     
    This is where Finalist comes in to help! Rather than outright rejecting final-round candidates, in-house recruiters can instead refer them to the Finalist network. Once referred, our advanced AI matches the candidate to similar roles at other companies within the network. When the candidate is hired, Finalist and the referring company split a placement fee that can help to offset the costs associated with the initial hire.
  • CANDIDATE
     
    Employers who introduce candidates to Finalist soften the blow by opening a door to another exciting opportunity from a network they otherwise wouldn’t have been able to access. It also helps to validate that they truly were a “finalist” and that all the effort was not in vain.

Working with Finalist to provide a soft landing for the best candidates you can’t hire can lead to an improved reputation, stronger sales, and better candidates in the future.