The Benefits of Fast Recruitment
According to Glassdoor data, jobseekers in the UK experience a fairly long hiring process with the average duration being 28.6 days. Hiring Managers want to find the best possible match for the job opening, which is why candidates are subjected to a variety of “screening” processes such as skills and personality test, competency based interviews, assessment centres, candidate presentations, background and reference checks, and so on – all of which can be very time consuming. As a result, companies risk losing out on qualified candidates to other, quicker, opportunities because of the length of the recruitment process.
As the job market in Aberdeen picks up the very best candidates are in high demand and are likely to receive multiple offers. If you’re not prepared to be decisive you may lose out to your more agile competitors.
Recruiting quickly doesn’t mean you have to abandon your hiring standards, but it does mean you have to move fast. This may require you to re-evaluate your recruitment process in terms of allocating time and resources while hiring for a role. Here’s why it’s worth the extra work:
Saved money and resources
Hiring faster enables you to minimise the cost per hire. In order to do so, you need to make sure that all the essentials on your checklist are ticked off before starting your recruitment drive, such as; an up to date and specific job description; a pre-approved budget for the role; well defined candidate experience/specification; agreement on benefits offered, flexibility, candidate expectations and requirements, and so on.
When you are very clear about what you want you will be able to narrow your list down to the most qualified candidates out of the large volume of CVs you receive and only spend time interviewing the ones that stand a good chance of being right for the job. Streamlining your recruitment process will save you the disruption of continually taking your managers out of work for interviews and the cost of unfilled positions.
High quality hires
In addition to competing with other companies to hire the best talent, you also have to keep up with the changing momentum of the market and candidate expectations. Candidates may be interviewing at multiple companies – this is when a streamlined and quick recruitment process can help secure you the top talent. It also portrays you as more efficient and decisive in the eyes of the candidate and client, raising your company profile and earning you a reputation for success. If you involve your major stakeholders in the hiring process you can find the ideal candidate in the shortest time.
Better candidate experience
Waiting to hear back from an interview is a nerve-racking experience for the candidate and prolonging it just makes matters worse. Being decisive with your hiring process and communicating with the candidates in a timely manner helps you differentiate your organisation from competitors and improve your candidate experience.
Higher response and acceptance rates
Analysis of relevant data has shown that prompt follow ups dramatically enhance response rates and speed up the hiring process. A faster hiring process will generate far higher response rates as candidates will be thrilled that you’re getting back to them quicker, which is a great way to keep them tied in and avoid losing talent from your pipeline. Reducing the time from the interview stage to offer gives candidates less time to reconsider your proposition. It also gives them less time to interview elsewhere or listen to counteroffers from their current managers, thus significantly increasing the chances of the candidate accepting your offer.
Improved recruitment process
Short recruitment cycles give hiring managers the talent they need immediately. It also helps them to identify where there are delays in the hiring process; dramatically improving the efficiency of the hiring process.
Hiring the right employee is a priority for every company as it pays back in productivity, a successful employment relationship, and a positive impact on the office environment. To do so it is not sufficient to have merely a ‘good’ hiring process. You need to have a good, efficient and fast hiring process which will help you attract, convert and hire the best talent in the market along with saving you significant resources in the process.