According to Glassdoor, the average length of the recruitment process in the UK is 27.5 days, with a 2015 study by Deloitte finding that, on average, it took 94 days to recruit for highly-skilled tech roles. When you consider that great candidates are usually off the market within just 10 days, it’s clear to see the importance of hiring fast.
For a long time, the consensus around recruitment was ‘hire slow, fire fast’, but in an era of talent shortages and a power shift in favour of candidates, this approach is no longer viable. While it always pays to be as thorough as possible, the longer the deliberation, the higher the possibility of the right candidate getting away.
Recruiting faster doesn’t mean abandoning high standards; it simply means re-evaluating the process of recruitment to recognise the candidates that fit the role or use expert advice from recruitment companies that lead your sector. Here are just some of the benefits of making faster hires:
High-quality talent. The length of a recruitment process has no proven bearing on the standard of talent you will eventually employ. However, we know that moving faster than a competitor can ensure you won’t miss out on your first choice.
Cost savings. There’s a considerable cost incurred in the recruitment process, whether that’s the HR/recruiter time, the cost of managers holding interviews, and crucially, the cost of an unfilled position. Hiring faster helps you to keep these costs to a minimum.
Positive candidate experience. Candidates shouldn’t have to return for multiple interviews or be made to wait for weeks for feedback. Being decisive and making rapid decisions enables you to differentiate yourself from competitors, and create an all-around better experience for potential employees.
Higher acceptance rates. Not only will you get access to high-quality candidates, but the faster you move, the fewer offers you’ll have to compete with to secure the right talent.
The key is reducing the time to hire without compromising on quality. Here are Claremont Consulting’s top tips for employers:
Look closely at your data. Take a look at how long it currently takes you to fill a role, how your time to hire compares with the standard time to hire in your industry and the ratio of good to poor applications you typically receive. Once you’ve extracted this data, you’ll be able to identify the key areas that require improvement.
Review job descriptions. A lot of employers fail to keep job descriptions up-to-date, meaning the information within them is no longer relevant. It’s crucial that job posts are tailored in line with modern practices and your company culture to attract better-matched candidates and speed up the hiring process.
Bend the rules. Forget sticking to rigid legacy processes when it comes to recruitment. Don’t wait until you have a certain number of candidates on your shortlist before you start interviewing. Even if you find just one great candidate, don’t slow down the process and risk losing them.
Use a recruitment consultant. Partnering with a specialist recruitment consultancy like Claremont Consulting can help improve your time to hire. An expert team of consultants have connections to talent and can take care of search and selection and first-stage interviews on your behalf promptly.
Stay tuned to the Claremont Consulting blog for more key insights into the recruitment process and our specialist sectors.