The job market can be an uncertain place, with the search for top talent becoming increasingly competitive as good candidates are often in short supply.
One of the main issues when hiring for new talent is the recruitment process itself. 60% of candidates would be put off and seek work elsewhere if the interview and recruitment course took a long time.
Glassdoor reviews have found that the average hiring process within the UK is 28.6 days, nearly a month-long recruitment process! Other data suggests that a great candidate won’t be on the market for more than 10 Days. So, what can you do as an employer to ensure you find and retain top talent from the initial contact to the onboarding process?
We’ve compiled some key factors to consider why your recruitment procedure could be worth a review?
Decisiveness and a faster hiring decision process mean your less likely to lose out on top talent to competitors and it is vital in providing a better candidate experience. If you do have a truly great candidate, you don’t want to keep them waiting. Doing so can damage your reputation and a long process can show an unfavourable reflection in your overall company practices, deterring the candidate further.
Improved Response Rates
A candidate is going to be glad if you’re getting back to them quickly. Keeping them in the loop and updated with their application is proven to speed up the hiring process and the response from candidates. Good, quick and effective communication is a great way to create a positive impression of your company.
Less Chance of Poaching
Getting to the prime candidate first is essential if you want to limit the chances of them being poached by another company. Lack of communication and long waiting times between interviews leaves open a window of opportunity for other companies to approach the candidate, and if their process is better than yours, it is unlikely they’ll wait around.
A shorter process will only save you money. Reducing the time and increasing the effectiveness means managers will spend fewer hours out of work in interviews and less money will be wasted on an unfilled position. The cost of training new staff can equate to around £4,000 so you want to ensure that you fill the position with the best candidate quickly and reduce the risk of losing out to a competitor.
How Many Interviews
As mentioned above, the time for interviews can take on average a whole month, for travelling, time to prepare and rehearse and the interview itself. So, it’s best to avoid having them if they aren’t totally necessary. It’s worth considering the seniority level of the position and makes this relative to the interviews, more than 2 for an entry-level or mid-level position can deter candidates. The average is usually 1 to 3. Three interviews for senior positions, perhaps four if it is necessary and usually 2 for other positions. One is considered in some cases not enough to gauge both an individual’s personality and competency for the team and vacancy.
So, if your process is currently more than this it could be worth reviewing where changes and improvements could be made to limit the time and improve efficiency, ensuring you find, hire and retain top talent!