Hiring is a fickle process. For one, companies must consider many factors when filling a position — expectations for the role, core skills required and culture fit to list a few. And finding a candidate that meets all of these requirements, understandably, takes time. A new employee is a serious investment you want to feel confident in.
But taking too long to hire can actually cost you top talent. Today, companies’ hiring process spans an average of 23.8 days — 13 days more than the time it takes for a candidate to go off the market. They have options and your competitors know it. Still not convinced expediting your hiring process is important? Check out these key benefits that prove you can land quality employees fast without sacrificing your company’s values and goals.
Reviewing your company’s current hiring process is a great opportunity to see where you can make improvements. Evaluate the core steps you employ to find and hire a new employee: the job description, type of search, interview process, job offer and onboarding period. Is your goal focused and clear? Where can you be more efficient? And most importantly, what’s the candidate experience like? An easy, speedier process reflects better on your company and attracts quality talent.
The cost of hiring varies across businesses, but common expenses include external and/or internal hiring teams, job board fees, time spent recruiting candidates and overall cost of the unfilled role. Accelerating your hiring process minimizes the impact of these areas — allowing your company’s people to focus on what they do best.
Shorter hiring processes encourage two things: accessing and landing in-demand candidates. Decisive companies limit the interview process, allowing them to lock-in skilled professionals before they lose interest and find another opportunity. A faster time frame also curbs competing offers or counter offers from previous employers.
Are you looking to fill an open position quickly? Don’t risk taking too long to hire by contacting our team today.