5 Strategies To Help You Better Define Your Recruitment Need and Save Time
The Time To Hire Metric is one of the most important performance indicators for hiring teams. Only 30% of businesses can fill a position within 30 days, which may surprise you. The remaining take anywhere from 1-4 months to hire. According to a LinkedIn survey, the average time for hiring can take up to 41 days. Measuring the time to hire is difficult, but once you have the data, you can see what needs to be improved in the process to reduce the time taken. But why should you try to reduce the time in the hiring process? Taking too long to fill a position raises not only the cost per hire but also increases the risk of losing top candidates. The shorter the time to hire, the better, since it typically results in a superior applicant screening process and signifies that your company has rapidly and effectively identified the ideal candidate for an available position. Let us see the various effective strategies you can use to reduce the time to hire.
5 Effective Strategies To Reduce the Time To Hire
Here are some strategies for hiring that can help you to better define your recruitment need and save time in the hiring process:
Reduce hiring time by gathering relevant data
To reduce the time to hire, the first step is to gather all the relevant data to examine the shortcomings of your hiring process. Try to collect data on how much time, on average, it takes for you to hire for a position and compare it to the average hiring time in your industry. So, collect as much relevant data on your current recruitment process as possible. Once you have collected enough data, consider the things you can improve to reduce the overall hiring time.
Establish a structured hiring process
Companies that do not have an established hiring process take comparatively more time to hire. There is no replacement for outlining your hiring process phases and creating a framework and flow around them from start to finish. Planning, identifying prospective prospects, screening, and presenting an employment offer is typically the first few processes in the recruitment process. Start by listing the occasions and points of contact throughout your normal hiring timeline. When hiring managers receive approval for the position opening, have a budget set up for recruiting, and create a job description, planning may start. Next, implement various ways to improve the careers page so that it is easier for candidates to look at the job description and apply for the roles.
Improve your careers page and provide a better experience for applicants
If your careers page doesn’t have all the relevant information, it will not appeal to candidates, and they will either leave immediately or reject your offer. You can reduce drop-offs and rejections and shorten your time to hire by adding various improvements to your careers page. You can begin by anticipating and providing all of the information your candidates seek on your careers page. Now, to ensure that candidates do not abandon their applications after clicking the Apply button, provide them with an easy and simple experience.
The next step is to populate the employment pipeline with competent prospects. Describe the many methods you use to find candidates, including job adverts, head-hunters, referrals, social media such as LinkedIn, talent databases, and more.
Create a talent pipeline
One of the most effective ways to reduce the time to hire is to create a talent pipeline, which is a group of candidates you’ve pre-screened for a specific role. Developing a talent pipeline is a proactive process that feeds into your talent pool, filling it with pre-screened potential job candidates from which you can choose the best fit for the role and reduce the time to hire. Pipeline development differs from recruitment. It entails learning about candidates’ interests and goals, as well as determining whether your organization is a good cultural fit for them. Creating a talent pipeline entails identifying roles you hire frequently and their skill requirements, establishing relationships with ideal candidates, and staying in touch. You won’t have to advertise your job, wait for applications, or spend time vetting the applicants when you have a pool of qualified candidates on speed dial. All you have to do is inform these people about the available position.
Utilize interview as a service
One of the most effective ways to reduce a considerable amount of time in the hiring process is by utilizing an interview as a service to outsource the initial rounds of interviews. Outsourcing the initial rounds of interviews will help assess the skills and expertise of a large number of candidates quickly and have a shortlisted list of top talents who can be interviewed for the final round. HireHunch offers reliable tech interviewing services to save the bandwidth of businesses by assessing the skills of the candidates and shortlisting top candidates for the final interview. HireHunch, thus, helps businesses by reducing the time they spend on conducting interviews and thereby reducing the time to hire.
It is important to reduce the time to hire since it can cost the company top talent. Don’t wait to make the job offer when you’ve found the right applicant. You might be shocked to learn that the primary reason applicants reject employment offers is because they have already gotten another offer. Be ready to bargain if a candidate makes a counteroffer or discloses information about another offer. Frequently engage with the candidates to update them about the recruitment process to keep them interested in the role. Recruiters should also share the high points and achievements of the company to motivate candidates to join their organization.
Recruiters should introduce certain strategies to reduce the time to hire employees for a position by streamlining their recruitment process. One way of streamlining the recruitment process is by outsourcing the initial round of interviews to quickly assess the skills of your candidates. Conducting the initial round of interviews in the interviewing process can be time-consuming for the internal team considering the massive number of candidates to be interviewed. HireHunch is a tech interviewing platform that assists businesses in quickly evaluating the skills and expertise of loads of candidates to ensure that your time to hire reduces significantly without interfering with your internal bandwidth.
Q1. What are the 10 steps in the recruitment process?
Here are the 10 steps in the recruitment process:
1. Identify the vacancy
2. Plan the strategy of the approach
3. Create a job description
4. Advertise the job vacancy
5. Sourcing for candidates
6. Screen the applicants
7. Assess the skills of the candidates
8. Shortlist candidates for the final interview
9. Offer the job role
10. Recruit and onboard the candidate
Q2. Why is it important to reduce the time to hire?
A short hiring cycle is critical for securing top talent for your organization. A quick recruitment turnaround time reduces the likelihood that a qualified candidate will accept a job offer from another organization before your recruiting process is completed.
Q3. What are 5 recruitment strategies?
5 effective recruitment strategies are –
- Develop a distinct employer brand.
- Create job postings that are reflective of your company.
- Use social media to find talent.
- Utilize niche job boards.
- Consider campus recruiting.