The world of business is fast paced and competitive, and the war for talent very much fits that profile. A key competitive advantage for businesses is their talent, and the ability to hire in a highly effective manner is essential to ensuring your business has the best people.
On the face of it, recruitment (and hiring in general) seems like a straightforward activity. A vacancy is generated, we find the right candidate for the role, an offer is made, and then with a poof of magic the candidate is in the role. Job done. However, what lies beneath a simple process is a world of traps, dead ends, complexity, and sometimes even hurt feelings.
One of the key areas of the hiring process is time. This one element is key to almost every part of the hiring process, and is often misunderstood. Time to market, feedback turnaround time, time between interviews, time to make an offer, time to generate the contract, time to interview a group of candidates, and of course time from the start of the interview process to the candidate starting at work – these are all cumulative parts of the vacancy filling process.
Timing is Everything
All of these factors contribute significantly to the probability of securing your preferred candidate, your company brand, your perceived speed of action as a hiring manager, the impression of the organisation and their typical processes, the candidate’s level of motivation on initial arrival in the business, and your ability to influence and negotiate salary levels during the contract signing phase.
Time is key in hiring processes and some of the ramifications of a poorly timed process can be significant. Waiting too long between a final interview and a making a candidate an offer can significantly demotivate a candidate and give them the impression you are no longer as interested. It can also lend itself to other job offers being presented to a candidate, which ends up costing a hiring manager more by having to offer an increased salary to get them over the line. A long hiring process also allows for candidates’ circumstances to change in their personal life and with their current employer, oftentimes to the detriment of your ability to secure the candidate.
How to Hire Faster
To stop these things from happening, time needs to be used as efficiently as possible. Be quick in responding to applicants, and try to schedule interviews with candidates as applications come in. Getting in touch with candidates immediately after interviews, and making sure they’re up to date throughout the process, is a great way to keep candidates interested and decrease drop off rates. On top of this, gaining a reputation for being helpful and responsive towards applicants is a bonus from a brand perspective.
Picking the right type of interview is a key part of hiring faster. Although face-to-face interviews are always essential, consider using panel interviews if there are multiple stakeholders, as it saves having to do multiple interviews and adding more time to the process. When it comes to actually making an offer, extend a verbal offer first. This will give you a better indication of what the candidate is looking for, and save the time and trouble of putting a contract together that might get turned down.
Another way to increase your hiring speed is to try to predict your expected workload and hire ahead of the curve, instead of only searching for a candidate the moment someone hands in their resignation or when the workload becomes too much. This isn't easy to do, but it does allow you to get someone ready to come in the moment you need them, and minimises the damage to your business of not having enough people.
By not considering time in what you do, you are letting your competition have an equal chance of securing that prized talent that is so sought after. Don’t let what could be the make or break of your business or your team slip past. Be prepared, think ahead, act swiftly and most of all: don’t forget time.
Linking up with a recruitment agency can be a great way to alleviate some of this time pressure. If you’re looking to take a lot of time-consuming steps off of your plate and increase your hiring speed, get in touch with Beyond Recruitment today.