If your company is losing out on top candidates, the problem may be your lengthy hiring process. Of course, you want to thoroughly evaluate all candidates before extending a job offer. However, the longer you take to make a decision, especially in this highly active job market, the greater your odds of losing your top candidates to a competing position. This is why your hiring process needs to be as quick as possible.
Here are five advantages of speeding up your hiring process.
1. Enhanced Candidate Experience
When your hiring process is fast, you provide an attractive candidate experience. Because candidates do not have to interview more than two to three times and are able to hear back from you in a short amount of time, they are more likely to remain interested in working for you. These candidates also are more likely to refer other professionals to your organization. They, too, want employers who are fast, responsive, and easy to work with.
2. Increased Acceptance Rate
With a quicker hiring process, you are more likely to bring aboard your top candidates. Because you complete the screening/interview process and extend a job offer in a short amount of time, the talent you want is likely to remain interested in your company and available to work for you. Because high achievers typically have multiple job offers, you should ensure that you stay in the running.
3. Higher Quality of Hires
Quickly moving through your hiring process means greater odds of bringing aboard top talent. Since high-quality candidates typically spend 10 days or less on the market, you need to present a job offer to strong candidates in this timeframe in order to remain competitive.
4. Stronger Productivity Levels
Moving quickly through your hiring process leads to higher productivity among your current team. Because your employees need to take on additional responsibilities when a role becomes vacant, they have less time to complete their other work. By quickly bringing aboard an additional team member, your employees can go back to focusing on their core responsibilities. Also, if an exiting team member can train their replacement, your new hire can reach the desired productivity level even faster.
5. Greater Time and Financial Savings
The faster you move through your hiring process, the more time and money you save. For instance, the less time you spend interviewing candidates, the more you can fulfill other responsibilities that make or save the company money. Also, the less time a role remains vacant, the less revenue is lost.
Speed Up Your Hiring Process
Work with Corps Team to find the qualified talent you need in a short amount of time. Find out more today.