“Hire slowly, fire quickly.”
We've heard it so many times that we now consider it common sense: hire slowly and fire quickly.
Isn't that correct? We should spend time on hiring because it is the most crucial thing we do. However, your lengthy hiring procedure may be hindering your ability to hire the tech and digital marketing talent you need.
According to Glassdoor's 2017 analysis, the average time of a job interview in the United States is 23.8 days, up from 13 days in 2011. That's just the national average, by the way. According to a 2015 Deloitte survey, it takes an average of 94 days to recruit for highly qualified technical positions. It's time to rethink your hiring process if it's been several weeks or more.
As per various strategists, when it comes to hiring there are three buzzwords: Quality, Time, and Money. I will add one more Speed.
Speed hiring does not mean haphazardly filling the vacancies, but making quick decisions with the right tools and processes. Speed hiring has become a necessity, and often difficult to implement, a technique used by recruiters to find the best candidates in the talent pool.
Some organizations believe that a longer hiring process is helpful because it ensures that a company has adequate time to compare candidates and ensure that they are hiring the best person for the position. This overlooks the important fact that you may miss out on the best talent because you took longer to make a hiring decision.
So, let’s break the myth and know about the benefits of speed hiring:
Assess Higher Quality Candidates: Talented people don't stay on the market for long. Due to the rising demand for unique skill sets, many recruiting managers encounter the dilemma that by the time a selection is made and a candidate is fully accepted and cleared, the candidate is no longer interested or accessible. Thus, you must hire fast. Because if you don’t, the competition will take this top talent off the market before you have the time to make a hiring decision.
Net high-end talent faster: By hiring faster, you'll be able to hire high-end, in-demand talent as soon as the position becomes available, rather than months later. This sense of urgency is especially important when it comes to hiring for tech projects or digital marketing initiatives, which frequently have defined deadlines or launch dates with no room for error. The quicker a vacancy is filled, the sooner a department can return to its full production capacity.
Potentially Higher Acceptance Rates: Along with access to higher-quality workers, one of the most significant advantages of hiring faster is the possibility for increased candidate acceptance rates. The fewer bids you have to compete with to land the high-end specialist you want, the faster and more effective your hiring process becomes. They'll be more inclined to accept the job offer you provide if they don't have time to interview or look for other alternatives during the hiring process. Moreover, the company’s decisiveness and speedy action will create a very positive image for the star candidate.
Saves Cost and Minimizes Expenses: One of the most significant advantages of recruiting faster is the amount of money and key resources your company will save. Reduce the amount of time hiring managers and HR or hiring departments spend recruiting, researching, and screening candidates by shortening the hiring process. Unnecessary elements in an extended hiring process can directly increase hidden costs of hiring and spending unnecessary and unproductive time on low-value aspects of recruiting.
So, these are some of the best secrets for speeding up your hiring process. But, how to speed hiring? In recruiting it’s important to have the right strategies and tools for “speed hiring.” One of the easiest ways to do so is by implementing pre-employment testing.
Also Read: What is pre-employment testing?
Pre-Employment Testing is a great hiring tool. Pre-employment tests are standardized assessments that are used to assess candidates' abilities, behaviors, and personalities.
Using Pre-Employment Testing software companies can test candidates for a variety of skills and can get quick reporting. Quick reporting helps in taking quick decisions. Pre-employment testing reduces unnecessary elements in the hiring process that directly increase the costs and time on low-value aspects of recruiting. It reduces the time spent on hiring up to 90%.
And, with pre-employment testing, you don't have to worry about the quality of the candidates. You can easily assess or screen a candidate’s technical knowledge. Pre-employment testing provides you with quality candidates.
So whether you’re an enterprise or a small company and need to hire staff quickly, it’s time for an efficient hiring method. Does your company use pre-employment testing software for speed hiring? And if you have still not implemented pre-employment assessments in your recruitment process you should it right away.
iMocha is here to help you find your right candidate that too with reducing your hiring.