Is your hiring process taking too long? You could be losing out on top talent if it is
Sourcing and securing talent is a delicate process. Rush through recruitment and you could find yourself back in the same position after having hired the wrong candidate. Take too long and you could go from a shortlist of five to a blank canvas. Finding the sweet spot between the two isn’t easy, but it’s essential if you are to bring on board top talent for your team. Eager to make the right decision and avoid the costs of a “bad hire”, employers and recruiters are more cautious than ever before. This is why it’s so important to have experts like us, who can handle all the recruitment for you.
According to figures from Office Vibe, the average time taken to hire a new employee currently sits at 27 days - but the “crème de la crème” of the jobs market is likely to be snatched up within the first 10. This shouldn’t come as a surprise to employers: in fact, it's naive to think the best candidates have only applied for one role. While some passive candidates may only put the feelers out to one chosen firm, the majority of job seekers won’t put all their eggs in one basket. Ultimately, they are in the market for security, salary and self-development. If your firm can’t offer these key components quick enough, they’ll be sure to find them elsewhere.
Further to this, a slow hiring process can be indicative of how the business operates. What you might see as a necessary set of stages might come across as an excessively complicated, bureaucratic procedure. If candidates feel that their career growth will be impeded by an indecisive organisation, they may choose to retract their application altogether.
If you’ve managed to secure a shortlist of skilled candidates, losing them to the competition due to a lengthy recruitment process can do damage in more ways than one. As the position remains vacant and the pressure to fill it increases, you will be forced to start your search again, selecting from the same talent pool - only this time, the prime candidates are gone. You will be forced to choose from the remaining applicants you previously skipped through. While they may be qualified for the role, they certainly won’t compare with your previous choices.
So how can you speed up the process without compromising the quality of the candidate?
Naturally, you will have the dream candidate in mind when hiring for a particular position. However, it might be a good idea to ask yourself whether that candidate even exists. Employers can easily go around in circles by judging each candidate against their expectations, and holding out for Mr or Mrs Right will undoubtedly delay the decision. Instead, try to decide on five must-have attributes and apply them to each candidate: if they fit the shoe, they’re right for the job.
Keep talent engaged
If you’re deliberating between candidates and simply need more time, don’t just leave them hanging. Actively communicating with these individuals will at least aid in keeping them in the loop and building a professional relationship. After all, people prefer to work with people they know. Keep in touch with your candidates to reassure them that a decision will be made shortly and remind them that their patience is appreciated. At Focused Recruitment this is a standard part of our process.
Use an expert
Recruiting can be a costly process, and if the process is taking too long, the expenditure rises quicker than you realise. According to the Chartered Institute of Personnel and Development, the average cost to employers each day a live vacancy remains unfulfilled is £285. If you hire the wrong person, it can cost between £8,000 and £12,000. The impact of trusting a recruitment expert is only really realised when the pressure and time involved in finding the perfect candidate is removed and assigned to someone who lives and breathes it. At Focused Recruitment we know how important this is, and how valuable it is too. Don’t let the recruitment process cost you money – just trust the experts to find you the perfect candidate, and the newest member of your team will be with you in no time – and will be staying with you for longer, too.