The average time to hire in the US is roughly 24 days while in the UK it’s a little longer at 28 days. To the average person this may not sound like a big deal, but in the recruitment industry, we know that a longer time to hire can mean losing out on some of your top targets. In fact, 57% of HR managers in Australia felt that they lost out on qualified candidates last year because of a lengthy hiring process.
In modern recruiting, time is essential to making the best hires. So what can you do to reduce your time to hire and avoid losing your best candidates to a competitor? We’ve come up with a few actionable tips that should help.
Set clear lines of communication
Several departments may be involved in your hiring process, and it’s essential that there is a clear line of communication between you and the decision makers in each. This could be through internal messaging via your Applicant Tracking System (ATS) or a simple email thread or chat group that all communications relating to the process must go through.
Waiting for one department to get back to another before they can let you know their decision is not only time-consuming, but it’s a huge source of frustration. With one clearly defined communication channel that all parties have access to, it’s more likely that any communications will get a reply sooner rather than later.
Make this one of your priorities right from the start.
Identify hold ups
It may seem like common sense, but it’s often easy to overlook the fact that certain elements of your hiring process (such as poor communications we mentioned above) may be slowing you down.
Take a moment to examine each step of the process and how long it takes to complete. It could be that your application process is confusing for candidates or that your resume screening process is eating up far too much time.
Whatever it is though, once you identify it, you should work on finding a solution to the problem as soon as possible.
Set achievable targets
If you find that you can improve in certain areas, then set you and your team achievable goals. For example, if your sourcing and screening takes five days, then set a goal of getting the job done in four.
You’ll want to come back periodically to reassess your KPI just to make sure that you or your team are not overworked trying to achieve unrealistic results. Overworked staff can lower the quality of work, so it’s really important to make those goals achievable.
Likewise, it’s also important to note that you just can’t rush some processes. Interviewing candidates at breakneck speed will do far more harm than good.
Never stop streamlining
We all know the benefits of automated processes in any industry, and if you don’t have the latest software in your recruiter’s toolkit, then you could be falling behind the competition.
Automating and streamlining work processes such as marketing (we wrote about that here) can make a huge difference in how you handle your daily workload not to mention the quality of your work. However, technology is changing every day, so it pays to keep an eye on the latest tech to make waves in the industry. With new tools and software constantly under development, you should try to make time every few months to analyze the efficiency of your software and, if needed, upgrade your tools.
Now that’s not to say that you should abandon a system that works for you, but if something better and faster comes along, then it makes sense to at least have a look at it.
Don’t be scared to outsource
Some recruiters like to maintain a very hands-on approach to their work and are a little reluctant to allow automated tools to handle too many processes. For these recruiters and many others, outsourcing is an ideal solution.
From building a talent pipeline (something we know a lot about) to screening resumes, there are many time-consuming processes that you can outsource to an off-site contractor. Often the contractor in question will specialize in that particular field and will not only get it done quicker but may even do a better job than you could have done yourself.
Measure your progress
Once you have implemented the required changes to your processes, it’s vital that you measure your progress. Without data to analyze, it will be impossible to determine whether or not your changes have had the desired effect.
However, simply knowing that you reduced your time to hire isn’t enough. You need to understand which changes had the most effect and if there are any that had a negative impact. This is especially important when investing in new software or services; after all, you want to be sure it’s worth the money.
Follow these tips, and you should be able to bring your time to hire well below the UK average of 28 days. And at the same time, you’ll ensure that you’re not missing out on prime candidates simply because they get bored and frustrated waiting for you to hire them.
As we mentioned earlier, we can help with reducing your time to hire by building your talent pipeline and allowing you more time to focus on the other aspects of your recruitment drive. So get in touch today and let’s get your pipeline started. It is, after all, our speciality.