When it comes to the recruitment process, how you pace your decision making can make all the difference. While a slower, more methodical approach seems to make sense- taking the time to make sure the new candidate is the right fit is a sensible approach, after all- it might not be the best one for your business. There’s a lot to be said for snapping up the right person when they come along, especially when you know they’re in demand. So should you be streamlining your hiring process? And what exactly are the benefits to making your recruitment policies more efficient overall?
Recruitment is a slow process
Yes, recruitment can be a slow process, but this alone can cause issues for many companies. The Office for National Statistics reports that jobs are, on average, advertised for as long as three months while employers decide who they want to take on for the role. This inevitably leads to some candidates giving up and looking elsewhere. But what if that candidate who didn’t wait it out just so happened to be the best person for the job? What if the delays in your recruitment process actually sent this candidate to a different organisation instead?
There are some real benefit to making your hiring process more efficient and timely, bringing better results to your company and enriching your team exponentially.
Productivity remains consistent
Having a role unfilled for any length of time has a direct impact on the employees who are currently working for you. Either they’re picking up the slack, or certain jobs aren’t getting done. Both scenarios can be disastrous for morale and a breeding ground for burn out.
Temporary staff shortages don’t usually create much of an issue, but if you're taking the average of three months to find the right person for the role, you might have a problem, especially when it comes to staff well-being and productivity.
A 2022 study by Workjam revealed that 78% of companies were understaffed, and half had been that way for between 5-6 months. For the employees left behind, this can take a huge toll. Employee satisfaction falls, productivity falls and staff turnover rises.
Company reputation is protected
Let’s face it, it doesn’t look good if you can’t fill vacant positions on your team. And new candidates are going to wonder why the role has been advertised for so long, too. Streaming the hiring can really work to ensure your company’s reputation doesn’t take a hit when you need to recruit.
Having a more efficient hiring process will also help new employees to gain trust and faith in your business. If this part of the process is done well, it bodes well for other experiences under your employment. The truth of it is, employees will avoid companies that have a bad reputation.
The candidate experience is improved
New employees are looking for more than just an attractive salary. Many are also demanding a benefits package that will not only make them want the job but that will encourage them to stay, too. And the recruitment process is part of the candidate experience that really counts. Having an efficient process shows that you respect their time and that you value them as individuals and employees. If your recruitment process is peppered with delays and patchy communication, your candidate is not only going to look elsewhere, but they’re less likely to view any eventual job offer with enthusiasm too.
This is backed up by this report from Linked In, which finds that while 38% of job seekers receive more than one job offer whilst actively looking for a job, 63% will accept an offer simply because the other employers took to long to get back to them.
You secure the top talent
It’s a job seeker’s market, and the top talent isn’t going to be available forever. So if your hiring process is slow and clumsy, that ideal candidate is going elsewhere. But if you’re streamlined and making good hiring decisions efficiently and effectively, it’s going to be your company who secures the top talent at the end of the day.
Yes, its important to consult with senior management about the best person for the job, but don’t sit on these applications. Set a clear timeline for your recruitment process, and stick to it so you don’t let the best person get away.
Save time and money
And if securing the top talent whilst keeping current employees engaged and productive at work isn’t enough, then its worth noting that an efficient hiring process will save time and money too. If you’re allowing the process to drag, you’re more likely to lose your candidates, setting you back to square one again- and when you have to repeat the recruitment process, you’re having to spend more time, money and energy on the hiring process all over again. Save time, save money, save your reputation- make your hiring process swift, and reap the benefits as a result.
At the end of the day, the best person for the role you need to fill is going to be in high demand. They’re going to be applying for more than one position, and they’re likely to be offered more than one, too. Make sure the first job they’re offered is yours.