Many of us know the feeling. We’ve had an interview, feel confident everything has gone well, and then…silence. For weeks. Nothing can be more nerve-wracking for applicants who invest significant time and mental and emotional energy and then wait weeks to hear something–or never hear anything at all.
This experience can leave a bad taste in a candidate’s mouth, even if they get an offer. And it can be detrimental to a company’s ability to hire the most qualified talent.
We’re not suggesting rushing through the interview and hiring process, but being strategic, thoughtful, and efficient is crucial for hiring and onboarding success.
While a more efficient hiring process has benefits for the candidate, the benefits for organisations are numerous.
Saving time and money
The more time spent reviewing and interviewing candidates, the more time is taken away from a team’s focus on their primary responsibilities. Think through who the most important people are to have on an interview team instead of involving all team members, which will help maximise efficiency and productivity. Also, any position left vacant is costly, so streamlining processes is vital to lessen the financial impacts of an open position.
Attracting high-caliber talent
The best candidates may have multiple applications out on the market—and likely multiple offers on the table. A recent study by Yello showed that 60% of recruiters say that they regularly lose candidates before they are able to schedule an interview. By acting quickly, organisations can move first to make an attractive offer to high-caliber talent.
Meeting candidate demands
In that same Yello study, survey results show that hiring processes are not meeting candidate expectations. Very few employers indicated they could effectively fill roles in less than two weeks. Yet, applicant responses show a growing number of candidates expect a decision within five days of an interview. Today’s savvy employers will find ways to better align their processes with candidate demands and expectations. This swift action also shows candidates that a company is decisive and respects their time.
In summary, time is money when it comes to hiring. The faster a company can hire, the more productive its team will be, and leadership will be able to grow their team with the best candidates for their company culture and needs.