Although the best talent typically is on the market for only 10 days, most companies take up to 4 months to fill a position. This means that the majority of employers are missing out on the best staff members. Even worse, the longer it takes to fill a position, the greater the cost per hire. This means that significant amounts of money may be lost until the right candidate is hired. These are two reasons why your hiring process needs to be as fast as possible.
Implement these three tips to speed up your recruitment process.
1. Measure Your Time to Hire
Gather the right data to determine the length of your hiring process. This includes the time it takes for candidates to move between the stages and how your time compares with the standard time to hire in your industry. It also involves the number of calendar days from the final selection to making the job offer, and the ratio of good to poor applications you typically receive. Then, find the most troubling numbers and ways you can improve them. For instance, say it takes an average of 2 days for candidates to submit their cover letter and resume and a week for hiring managers to respond. Tasks such as screening resumes and candidates, analyzing the results of pre-employment tests, and moving candidates to the next stage should be automated.
2. Have a Talent Pipeline
Keep a group of prescreened candidates ready to interview. Then, you may not need to advertise a role, wait for applicants, and spend time vetting them. Make a list of roles you often hire for and what the job requirements are. Next, go where your ideal candidates often spend time, such as conferences, industry events, and social networks. Ask your network for referrals as well. Then, reach out to the individuals who seem like a great fit with your organization. Stay in touch by sharing content they may be interested in, personalized messages, and an occasional cup of coffee. When a job becomes available, reach out to the right individuals to discuss the opportunity.
3. Shorten Your Interview Process
Limit your interviews to a phone screen and an in-person or virtual meeting. You should be able to qualify a candidate based on their skill set through a five-minute phone conversation. For instance, if hiring for a customer-facing role, pay attention to cadence, tonality, background noise, professional language, and appropriate answers to questions. When meeting in-person or virtually, focus on whether the candidate provides similar answers to questions asked during the phone interview and whether their personality blends with company culture. Take notes during your conversation to refer to when making a final decision. Contact your top candidate as quickly as possible to extend a job offer. Allow a few days to get back to you.
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