Dead stock: admitting what is never going to sell
Dead stock ties up cash and space while appearing as an asset. How to identify it, the options in order of value recovered, and why holding on is the expensive choice.
Applicant tracking is the record of who applied, where they are and what was decided. What it must hold, the legal parts people forget, and when a spreadsheet is enough.
Applicant tracking is the unglamorous half of hiring: knowing who applied, which stage each person is at, who is waiting on whom, and what was decided about everybody you did not take. Most small companies run it across an inbox, two spreadsheets and somebody's memory, and the cost appears as candidates who never got an answer and decisions nobody can explain six months later.
Two, and both are legal rather than operational. The first is retention: unsuccessful applications are personal data held with no ongoing purpose, and keeping them indefinitely because deleting feels wasteful is the commonest quiet breach in small-company HR. Decide a period, state it in the acknowledgement, and apply it. The second is consistency of record — if one candidate is rejected with a recorded reason and another with nothing, the pattern across a year is what an employment tribunal reads, and absence of a reason is read unfavourably.
Reply to everybody, including rejections, and make the system make that easy. The commonest complaint about small-company hiring is not being turned down but never hearing anything, and that failure is almost always a tracking failure rather than a decision somebody made.
Two numbers matter and neither is the number of applicants. The first is time from application to first response, which is what candidates experience and what loses you people to faster employers. The second is where applicants drop out — if two thirds vanish between first interview and second, the problem is the process rather than the market. Counting applications makes a recruitment report look busy; counting those two things tells you what to change.
Ettex Records holds the applicant list with stage, owner, decision and retention date as fields, so the overdue-response list and the deletion list are both filters. The stages themselves belong to the recruitment process, which should be settled before any tracking is set up, since tracking an undefined process produces a record of improvisation.
Not necessarily. Under about twenty applicants per role a structured table works; the trigger for a tool is several people needing to update it at once rather than volume alone.
For a stated period you decide and publish — typically six to twelve months. Keeping them indefinitely is personal data held without a purpose.
The decision, the date and a one-line reason. Inconsistent reasons across candidates are read unfavourably if a decision is ever challenged.
Dead stock ties up cash and space while appearing as an asset. How to identify it, the options in order of value recovered, and why holding on is the expensive choice.
Professional indemnity insurance responds to claims that your advice or work caused a loss. Who needs it, how claims-made cover works, and the gap that catches people who stop trading.
A freight forwarder arranges shipping but does not usually carry anything. What they take on, what remains your liability, and the documents to check before a first shipment.