Candidates have the upper hand in today's job market. Unemployment under four percent means that there is a high quantity of jobs available but a lack of candidates who have the required skills. Great candidates are harder to find which increases the length of the hiring process Managers spend valuable time reviewing resumes and holding interviews—if the candidates even show up that is.
Time to hire is an important factor when considering the cost of an open position. The lost productivity and diversion of resources that happen when a position remains unfilled for too long adds up to dollars lost. Here are four tips to speed up the hiring process and improve your company’s productivity.
1. Find the Right People
Attracting the appropriate talent is often the first challenge of today's job search. Time spent searching for candidates is time that HR managers could be using on other operations. In a report for the National Center for the Middle Market, the Brookings Institution suggests partnering with other groups, such as universities and staffing firms. These groups have pre-screen candidates whose qualifications match the role you need to fill.
In a recent Clutch survey, 1 in 5 recent hires say they only applied to their current job during their most recent job search. Among those, it’s likely a recruiter persuaded them to leave their current role for a new opportunity.
“A lot of our outreach is to people who aren’t looking, but they’re open to change,” said Amanda Dobson, director of recruiting for Temporary Solutions, Inc. “Many times, when we contact someone about a position, they’re already employed.”
2. Streamline Your Hiring Process
Clutch’s survey also says that 43 percent of recent hires received an offer within 2 weeks of beginning the interview process. If your recruiting process includes too many rounds of interviews, candidates may join a faster-moving company while waiting for you to make a decision. Reduce the number of interviews held for each position, but make sure you still gain insight into how this candidate will fit in with your company’s work ethic and culture.
Be aware that quick hiring decisions can be risky. You could potentially draw low-quality candidates or incur the expense of starting the process over if you make a bad hire. Working with a partner to find qualified candidates in the first place will mitigate this risk.
3. Enhance Your Non-Salary Offerings
In today’s job market, in-demand candidates can afford to be more selective. People who based decisions on basics like salary, benefits, and location now have the luxury of considering intangible differences like company culture, diversity and inclusion, and growth opportunities.
Consider moving beyond just salary to attract qualified candidates by beefing up your benefits offerings. Health and life benefits, professional development and tuition reimbursement, and paid vacation days are perks that candidates are coming to expect. Adding nice-to-have benefits like gym memberships, childcare reimbursement, and on-site meals is going the extra mile.
4. Partner With a Staffing Agency
Recruitment process outsourcing removes the burden of identifying candidates who are qualified for your open positions. The icing on that cake is that a staffing agency can fill your needs faster, with vetted, high-level candidates. Their recruiters constantly cultivate a pipeline of candidates for a variety of jobs, sourcing from social media, job boards, and in-person networking.
The quickest way to fill positions is to use temporary employees. Don't buy into the misconception that “temps” are undesirable candidates. Often, these employees are overqualified for the jobs they're doing. They may decide to work temporary jobs for the flexibility or as a catalyst for a career change. Temporary positions are often easier to land than permanent ones and can lead to a permanent job in a new field.