Contact us today.
Our global experts are ready to help your business. Get in touch with one of our representatives today.Send message
The average hiring process now takes twenty-three days to complete. That’s nearly double the time it took to hire someone less than five years ago. The reasons why it takes so long to hire someone are multiple, but one major factor is a lengthier interview process.
Many companies now require multiple rounds of interviews (3.7 days on average) with many different team members. Many companies also require background checks, which tend to take a few days to process.
Long interview processes are expensive, too. Requiring multiple interviews with many different team members means paying those employees to interview the same person various times – in the end, it doesn’t make a lot of financial sense.
These lengthier processes are put in place to cut back on employee turnover rates (with no real proof that a longer hiring process results in better candidate selection!), but this also means impatient job seekers are finding other employment options in a rapidly moving job market.
Culture is kind in today’s job force. Skilled candidates that can afford to be picky look for companies with cultures that mesh with personal values and career goals. When a company takes too long to hire, it can be a warning sign that things move slowly within that organization.
Job seekers looking for a fast-paced environment are likely to give up on a company that takes too long to offer a position post-interview and move to the next opportunity. The longer a recruitment process takes, the more likely a candidate will receive other offers – in fact, forty-seven percent of applicants reject an offer due to a better competing offer. Attempting to keep that candidate in play could mean a larger salary offer due to competition.
Employers that want to attract top talent have to revamp the interview process with the goal of hiring quickly or be left with a smaller selection of optimal candidates.
Change can be hard, but speeding up the recruitment process doesn’t have to be complicated. Here are some simple steps to take.
Interviews do not have to take months to complete. Know what you’re looking for, who should (and shouldn’t) be involved in the hiring process, and create a streamlined checklist for finding the optimal candidate can save time and money while preventing the risk of losing a star candidate to another faster company.