How slow hiring can damage a business
A long-drawn out recruitment process can be viewed as a sign of business inefficiency and have a negative impact on productivity, employee morale and a candidate’s enthusiasm. Hire slow, hire twice!
Screen the right candidates from the start
Technology has already speeded up the application process with options to apply via linked-in and ‘click to apply’ links enabling you to upload your CV. The next step is to specifically target the recruitment campaign to screen only the best applicants. You’re at an advantage if you search the talent pool before you need to tap into it, encouraging people to express an interest in job opportunities so you have a resource to draw on quickly. You can’t blame a weak applicant pool for a slow hiring process!
The one that got away
In a highly competitive marketplace, one company’s slow hiring process can be another company’s gain so don’t risk losing the interest of candidates who are in high demand. If the talent you are looking for is on the job market, they are likely to attract other offers. The longer the recruitment process takes, the more frustrated candidates become. Don’t risk a candidate accepting a job offer from elsewhere before it expires, rather than to wait for a possible future offer from you.
Fast equals efficient
If you’re head-hunting a candidate, you can be certain others are too. Get in first before the competition take the top talent off the market. Candidates who are quick decision-makers view slow hiring decisions as an indicator that business decisions will be made slowly. It suggests a lack of innovation in the recruiting process and if that’s a person’s only experience of a company they’ll have a less-than-positive image of what working there is like which negatively effects recruitment.
Slow hiring can hit revenue hard
When top talent enters the job market after working at the same place for several years, they may not immediately appreciate their market value. Be the first business to make a job offer and your initial salary offer is more likely to be accepted. If the hiring process is delayed and other companies express interest, the candidate could have increased salary expectations and push to negotiate terms. If you hire before there is any competition you may be able to pay as much 25 percent less than if you hire after other businesses have expressed their interest.
The negative knock-on effect
A job role shouldn’t be left vacant for long. The result of an empty chair can be a less-efficient service, because either you are a person down or relying on less experienced staff to fill in. Other employees will be affected if they’re being asked to do overtime or take on extra duties which can have a negative impact on morale and staff retention. Employees who have previously worked at faster-hiring businesses may also question the business strategy.
There’s no need to take it slow
Don’t rush into recruitment if the candidate pool isn’t right. The job posting, salary bracket or required specifications may need to be reviewed to get the process back on track. But if you get it right from the start and are ready to approach the top talent, your slick recruitment process will boost morale, staff retention, candidate satisfaction and productivity.
Date Posted: March 22nd 2017
Posted By: Phil Scott