Avoiding a lengthy hiring process
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Right now it’s a candidates' market. Jobseekers rule the hiring process and if yours is too slow, you’ll miss out on the top talent – and potentially waste a lot of money. Every company is after their dream team, but the best candidates may already have several offers coming their way, and quickly.
Current reports state that it takes an average of 30 business days to make a new hire, however, the top tier candidates are off the market in 10 days. So if you find a quality candidate, you should move fast.
Some organisations worry that hasty hiring decisions lead to lower quality candidates, when in fact it’s often quite the opposite. But why does hiring speed matter, and why will it make such a difference?
Get the in-demand candidate.
The longer companies contemplate, the more likely they will lose top talent to a competitor. Making decisions quickly, and keeping candidates informed on when they should expect to hear from you, will help you bag the best talent! A clear written HR procedure for fast hires ensures that the correct process is followed and the recruitment decision can be made with confidence.
Save time and money.
A shorter hiring process reduces the amount of time hiring managers have to spend recruiting, researching and screening candidates, taking time away from the interviewee’s day-to-day responsibilities. The ongoing cost of an unfilled role will soon add up, and depending on the role, you may have to supplement the vacancy by expanding the workload of other employees or outsourcing to freelancers; costing your business both time and money.
Experience higher acceptance rates.
Reducing time in-between interviews and offers gives candidates less time to reconsider or interview somewhere else. Emphasising treating candidates like customers might go against previous talent acquisition strategies, but creating a faster recruitment process may be the secret to hiring the best candidates.
It will add value.
Not only will strong candidates be suited to the business needs and values, but after experiencing a smooth and speedy hiring process, they will already hold your company in high regard. They’ll likely be enticed to put in that extra effort and go that extra mile, and may even start recommending your company to friends, family and their wider network.
How Wild Recruitment can help improve your hiring speed.
Our consultants are experts in their field, so when you list a vacancy with Wild Recruitment, we can advise the average time to fill, how long the hiring process should be and how long candidates in your sector are typically on the market.
Our service includes full offer management; from screening candidates, arranging interviews to salary and benefits negotiation. We can even provide advice on employer branding, conducting skills audits and salary benchmarking.
Sourced from: Workable https://resources.workable.com/stories-and-insights/time-to-hire-industry#:~:text=Hiring%20takes%20anywhere%20from%20a,interchangeably%20with%20time%20to%20fill