Is a lengthy recruitment process costing you talent?

Picture this: a candidate has two job interviews coming up.

They are both second stage interviews, and the candidate is well qualified for both roles. They are confident that, should all go well, they will receive an offer from both companies. Having little to pick between the jobs, they have decided they will go with whichever offer is best or comes in first.

“A study of UK businesses showed that 54% of HR directors have lost out on a qualified candidate due to a long hiring process.” If you are part of that number, it might be time to think about how you can speed up your recruitment process.

Never presume you are the candidates only offer

Speeding up your hiring process can ensure you capture the right talent for your business. These days, with employment levels at an all-time high, workplace recruitment is just as much about advertising an opportunity to a candidate, as it is about ensuring you make the right hire. Too many businesses presume they can take their time during recruitment processes, but “a drawn-out hiring process costs time and money.”

Research from Morgan McKinley showed recruitment processes in 2018 “were swift and succinct, as employers recognised that long-winded applicant processes would likely turn candidates off and send them packing towards competitors.”

If you want to ensure you attract the right talent for your business, consider putting steps in place to speed up your recruitment process and get ahead of your competition. We’ve put together some ideas for how you can do this.

Recruitment Process Outsourcing

Outsource your recruitment process to an RPO provider and let experienced professionals conduct preliminary interviews and shortlist quality candidates for the vacancy. Specialist recruiters will already have a diverse and highly skilled talent pool at their fingertips. It may be that they are already aware of a candidate who could be perfect for the role within your organisation.

Ask for referrals from existing employees

Chances are your current employees know or have previously worked with someone who could be the right fit for the position. What’s also great about asking for their recommendations is that they will only recommend people they would like to work with personally. This makes it more likely that the candidate will be the right fit for your company culture.

Consider a referral bonus for employees who recommend successful candidates. If you develop an employee referral programme this should reduce your contingency recruitment fees in the long term. You will also be rewarding staff for their contribution, leading to a happier work environment.

Spend time on a well-crafted job description

A job description is not only a way to attract talent, but also a way to filter out applications that aren’t suitable. If your advert is too vague, you will end up with an excess of applications, most of which won’t be right.

Specify the skills the role requires from the offset, as well as what they can learn on the job and what the most essential part of the role is. For more details on how to get your job description just right, check out our blog on this subject.

One task too many?

Many interview processes require a candidate to complete a task relevant to the job description. This is a great way of gaining insight into candidates’ thought processes and is also an invaluable opportunity for them to showcase their ability. However, tasks take time and you could be in danger of losing out on talent if you set too many.

Don’t forget that most quality candidates will be interviewing elsewhere. If Company A shows more instinctive faith in their ability, chances are they will be inclined to accept their offer on the basis that they feel Company  A want to work with them more.

Make the candidate the centre of the universe

This is an idea taken from Janice Bryant Howroyd, Founder and CEO of ActOne Group, a global recruitment business. If you consider the candidate to be all important, not only will you attract them to your business by making them feel welcomed and supported, but you will naturally make sure that you meet their needs during the recruitment process.

If you are not paying enough attention to your candidate, they may not feel comfortable to share with you where they are at in their process. It may be that they want to tell you they have had or are expecting another offer. If they are comfortable enough to tell you this, they are letting you know for a reason. If you know they are keen to work for your company, you can speed up your process to ensure you capture the talent before it is snapped up by someone else.

In today’s recruitment market, there is no time to take your time. Capture top talent with an efficient recruitment process that proves to the candidate you want to work with them. Not only will this mean you make the right hires for your business, but it will also save you money on a long, drawn-out recruitment process.