The Increased Importance of Hiring Fast
Written By Ryan Nicoletti | March 7, 2023
Having an efficient, yet effective recruitment process is becoming increasingly important. The current landscape of recruiting and hiring is continuing to evolve, and that means hiring practices must adapt to keep up. Read on to learn why it’s important to hire fast and how you and your organization can get the talent you need, quicker.
The costly repercussions of failing to hire fast:
1. You'll lose out on quality candidates
Candidates have very little time to apply and interview for new jobs if they’re working around a full-time job and personal schedule. High-achieving workers are especially pressed for time. Wasting a candidate’s time with a lengthy application and interview process is an indicator that your company may not be efficient or organized. Having too many interviews also shows that the company is unable to make a decision. Quality candidates will be more likely to fall out of the process, as they may see their time is being wasted.
2. It'll cost you more money
Dragging the application and interview process along is not only timely, but costly. You need to pay for employees’ time to interview those candidates, which is taking away from their own productivity and resources.
3. Your competitors may be stealing your talent
If a competitor has a shorter, more concise recruiting process, they can be stealing candidates from your pool and hiring them. It’s important to identify quality talent as soon as possible and without hesitation. These candidates will look for other opportunities if their talent and experience are not acknowledged quickly enough.
4. It reflects your company's reputation
Not having an efficient hiring process could look poorly for you on company review sites like Glassdoor or Indeed. Reviewers don’t need to work at a company to review them – if a candidate has interviewed with you, they’re able to write a review about your interview and hiring process. If candidates have left reviews with claims that you take too long, require too many interview rounds, or took weeks/months to get back to them, you’re going to scare quality candidates away.
6 ways to strategize for faster hiring:
1. Don't draw out your application process
Creating a convenient and seamless application process should be one of your main priorities. This leaves a great first impression for candidates and allows you to find more talent, quicker. Try using an “Easy Apply” application if you don’t already. “Easy Apply” allows candidates to apply for a job without having to be directed to the company’s career page. They can apply right from within the website they found the job posting. Download our one pager to learn more about “Easy Apply”. Additionally, don’t force candidates to create an account. If you still require applicants to create an account with a username and password before they can apply for your job, you could be missing out on candidates and wasting time.
2. Keep your interview process under one month
A general rule of thumb is to keep your interview process under one month, with 3 to 4 rounds of interviews per candidate. The nature of the role and seniority may require more or fewer rounds, but having too many rounds can be prolonging your hiring process and turning away quality candidates.
3. Utilize virtual calls and interviews as much as possible
Having candidates come in person for an interview takes a lot of preparation and forces you to work around their current professional and personal schedules. To get to know candidates better in a shorter amount of time, use video conferencing tools like Zoom or Microsoft Teams. This way, many candidates can take a call on their lunch break during work, or even before or after work.
4. Limit the number of projects or case studies you ask the candidate to complete
Many interview processes require candidates to complete a project or case study so employers can get a sense of their work. One case study or project is fine, but try not to exceed that. If you’re looking to get a sense of a candidate’s quality of work, try asking them from the onset during the application process to attach a portfolio instead. This saves time for both you and the candidate, and you can better evaluate their work before they begin the interview process.
5. Use a passive candidate sourcing tool
With a tool like Sourcer, you’re able to narrow your talent pool by searching for candidates with specific qualifications and experiences near your organization. This means you spend less time sorting through resumes of candidates that may not be qualified, and you’ll have to do less vetting during the interview process. Click here to learn more about JobTarget Sourcer.
6. Advertise to the right candidates from the start
We use a tool called Programmatic to get your jobs in front of the right audience and take out the guess work. Our algorithms evaluate an ad campaign’s performance and determine where they will be the most effective, based on actual job seeker behaviors and other data collection. Advertising to the right candidates that possess the skills and experience you need saves you time and money, while ensuring you're reaching the right talent. To learn more about JobTarget Programmatic, download our Programmatic Job Advertising 101 Guide.
Knowing the importance of hiring fast and how to do so is the key to hiring quality talent and saving money. If you’re looking for more ways to improve your recruiting process, we would love to help you and your organization. Chat with one of our recruitment experts here.
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