How to Reduce your Time-to-Hire
HR Magazine recently reported if a vacancy hasn’t been filled within 72 days, there’s something wrong with it.
The research suggests employers need to fill job vacancies within 72 working days before people assume it’s a job no-one wants.
These results show now more than ever, the importance of reduced time-to-hire. With the current skills shortage, it’s not recommended to hold out too long for a candidate. Eventually that tactic will backfire. In other words, if you interview a good candidate, don’t wait too long before you offer them a job.
So how can you reduce your time-to-hire?
If you fail to plan, you plan to fail.
Reducing time-to-hire is all about making sure you’re ready when recruitment arises. The importance of running a smooth and efficient hiring process relies on understanding employment trends within your company and having the resources to hand to ensure you identify top talent – quickly.
Here are five tricks to help speed up the recruitment process within an SME:
1. Before you plan your recruitment campaign, work out a timeframe, who needs to be involved and what time they are available.
2. Ensure you have a job description for every person within your organisation. You should then, in theory, be able to advertise your vacant role within 24 hours.
3. Build a talent pool that you can share your vacancy with when the time comes – whether that’s a CV database or social communities.
4. To speed up the process of interviewing and shortlisting, use tools such as automated online video, to help identify the right candidates sooner. You’ll save time and resources on initial face-to-face interviews.
5. Use a fixed fee recruiter to manage the hard work for you. You may need to take a more hands-on role in terms of reviewing CVs, but you will build better relationships with candidates, as well as create talent pools that you can tap into in the future.
With the war for talent only becoming fiercer, as a small business owner, it has never been so important to keep up with the trends and find ways to add value to your hiring process.
By being prepared and using tools that can enhance your recruitment process, you can reduce your time-to-hire without forfeiting the quality of candidate.
If you’re a small to medium sized enterprise looking to reduce your time-to-hire, whilst driving down costs, get in touch with the webrecruit team on 01392 829400 or request our brochure.