The average time-to-hire varies from one company to another. Some organizations can fill a position within 15 days, while others take up to 36 days before finding a qualified candidate to join their company.
Taking a long time to fill in a vacancy in your organization can lead to several problems. First, letting your business run with a staffing shortage can cause you to miss out on growth opportunities because you do not have the capacity to meet your customers’ needs.
The quality of your output may also suffer because your current team may be too overworked to implement your company standards. This may then cause your employees to experience stress, lowering their morale and job satisfaction. After a while, your turnover rates may also increase when your overwhelmed team members decide to leave your company.
Having a longer time-to-hire also provides you with the risk of missing out on the best candidates on the market. Remember that most of the qualified candidates are usually off the market in 10 days. So, if you want to hire the best possible individual for the open role in your company, you should improve your time to hire.
You must be thinking about how you can avoid facing these problems when running your business. The most effective thing you can do is make an effective recruitment process and hire candidates faster.
How to Hire Faster?
There are several ways that you can find and hire quality candidates faster. However, if you are looking for the easiest way to do so, you can start by optimizing your recruitment process.
Do this by reviewing every step of your recruitment process and finding ways to improve each one. You can also opt to use different kinds of systems that will allow you to expedite your recruitment tasks.
The first step of your recruitment process that you should optimize is sourcing candidates. This step usually takes up a few weeks, which can greatly affect your company’s time to hire.
There are several reasons why this happens. Your HR team might not have enough tools to reach qualified candidates. Posting your job ads online may also be taking too much of their time.
Automated Recruitment Software
To improve this part of your hiring process, you should start utilizing a web recruitment software that can help you reach more qualified candidates easier. You can use this kind of software to automatically post your job listings to several online portals, so your recruitment team does not have to do it manually.
This technology also allows you to create a custom recruitment portal, where you can encourage more individuals to apply to your company. A customized job portal is also a great way of telling job seekers more about your company, such as your core values and history, and enticing them to work with you.
Get Candidates From Referrals
Use your existing employees’ network to find qualified applicants for your company. You should launch a referral program to encourage your current employees to invite their friends and acquaintances to apply to your organization. Then, reward them for every successful referral that they bring to your organization.
To make the monitoring of your program more manageable, you should use a referral recruitment software. This system allows you to track the progress of each referred applicant, so you keep an eye on which employees should receive the incentives you promised and avoid any confusion.
Build a Talent Pipeline
Another way of expediting your candidate sourcing process is by building a talent pipeline beforehand. This talent pipeline should consist of a group of applicants whom you have screened for a certain role before but did not make the cut.
Because you have already pre-screened them, you can be sure that these individuals have the minimum qualifications you are looking for in an employee. This means that you do not have to go through the sourcing and screening process with them, making your entire recruitment process faster.
Screening and Shortlisting
Your company wants to hire the right candidates faster but you have a ton of applications coming in without any way of expediting the screening and shortlisting process. You can read through and assess hundreds of resumes from several candidates to find a few people who are qualified enough for the job, but this can be too tiresome when done manually.
To make this step more manageable for your recruitment team, you should invest in ATS tracking solutions. An applicant tracking software allows you to oversee and accelerate your screening process.
It does so by conducting an initial scan of all your applicants and sorting and ranking them based on their qualifications. Through this function, you can easily eliminate unqualified candidates and shortlist only those who have the minimum qualifications for the job.
After the screening and shortlisting step, you should start interviewing qualified candidates for the opening in your company. This process involves coordinating with the applicant and hiring managers to determine when the interview should be done, which can be a challenging task.
Although scheduling interviews may seem like a simple task, it can take up too much time and effort. This is because your recruitment team needs to find out when all the parties are available for an interview. They also need to do this for every shortlisted candidate, which can be tedious and confusing.
You can help your recruitment team with this problem by using a candidate interview scheduling software. This technology allows you to eliminate the back-and-forth messages and time-consuming phone calls that your staff needs to send and make just to schedule an interview for a single candidate. It also helps you avoid any confusion with the interview schedule, such as overlapping interview times and double-booked interviews.
Using a scheduling system also provides candidates with a better applicant experience. This becomes possible because the software can easily manage interviewers’ schedules, allowing the applicant to choose the interview time that best fits their schedule.
Evaluation and Offer of Employment
Once you have interviewed all your shortlisted applicants, you might have an idea who to hire. But if you want to review the details of the candidates you have talked to, you can easily do so using an ATS.
An ATS allows you to export and view the full list of candidates along with the details of their applications. You can browse through the document in spreadsheet form for easier viewing, which can help you make your decision much faster.
After reviewing every applicant’s details, you should choose which one is the most qualified to work in your company. Then, proceed by providing them with a job offer as soon as possible. Avoid delaying your offer because the applicant may already accept another offer if they are left waiting for too long. You do not want this to happen with your most qualified applicant.
You should also be ready for any counteroffers that the candidate might make. Be prepared for any negotiations you might do to convince the applicant to join your company.
Experience the Benefits of Hiring Candidates Faster
Learning how to recruit applicants faster can provide your company with various benefits. Once you optimize your recruitment process, you do not have to worry about the negative effects that staff shortage brings. Your current employees will remain satisfied with their jobs and can continue providing excellent output for your business.
Additionally, you can easily find and hire quality candidates who can bring value to your organization. Remember that highly qualified individuals do not stay in the market for long, so having an optimized recruitment process means that you can hire them right away and not make them wait, unlike other companies.