Pre Covid – 70% of companies were taking anywhere between 1 – 4 months to process a new hire which makes me ask the question “How valuable is your time when you’re recruiting”?. According to the ONS, the current “Time to hire” is now 6.2 weeks from Job advert to job offer.
At times like these, you may think the market is awash with candidates looking for work and it will be easy to recruit due to economic uncertainty. However this isnt the case.
The time it takes you to go through the process should not be compromised, you should keep it thorough but also efficient, as you are still not guaranteed to find the best person for your role in this current labour market.
Advertising a vacancy at the moment may mean that you could get more applications from candidates with little or no experience, you may receive a higher number of overseas applications or from international students with visa restrictions. Although you are more likely to see more applications, the relevance and calibre of these candidates hasn’t increased.
- If 99% of these applications are not relevant, do you have the time to read each CV?
- How long will this process take you along with fitting it around your ‘normal’ job?
- Are you looking at your essential skills against your desirable skills?
57% of job seekers lose interest in a job if the hiring process is lengthy.
For every hour you spend recruiting, it’s an hour less you are spending on your ‘normal job’ within the business which could affect your bottom line. If your team are short staffed and they are picking up the shortfall whilst you recruit, then you may find they become disengaged and their productivity could dip.
Being able to plan your recruitment strategy and looking at ways to reduce your “time to hire” is a great way to reduce your cost-per-hire and improve the candidate experience.
One candidate I spoke to last week, said an organisation had closed a job they wanted to apply for after 24 hours due to too many applications. They had worked in the industry previously and done the same role, but they were not allowed to apply as the vacancy had closed.
- As a business, can you afford to miss out on the best candidate and keep the advert open, or run the risk of too many CV’s being sent.
- If you have 100 + applications for ONE vacancy, do you have the time and resources to go through them all?
- What happens if you have multiple vacancies?
- How do you make sure the process is fair and inclusive, whilst not compromising on your process?
- Do your managers know how to interview effectively and hire the best person without bias?
One way of saving you TIME and MONEY is to use an experienced Recruitment Agency like KD Recruitment, we will work hard to keep the process as quick and easy as possible for you, and ultimately improve the candidate experience along with promoting your employer brand.
Whether you’re a well-established business or a new start-up, we understand how important it is to find the right person for a job vacancy. For this reason, we offer bespoke, specialist recruitment services and help connect highly skilled candidates with your company. No matter how precise your requirements are or how competitive the industry you operate in is, the perfect candidate is out there, and we can help you find them.
For more information on how we can support your business please click here or call the office on 01723 313505 | 01904 862642 | 01482 762199