Few realize that increasing your hiring speed often has the second-largest impact on hiring results (after referral hires). Most track time to fill, but few recruiting leaders calculate the high correlation between your hiring speed for top talent and their resulting on-the-job performance after they become a new hire. To put the relationship simply, slow hiring decisions mean that most of your top applicants will lose interest or accept a faster “bird in hand” offer long before your firm gets around to a decision. And that slowness means that you’ll have to select from the remaining “not-in-demand candidates” which unavoidably, will result in a large number of mediocre hires.
Time to fill now averages 44 calendar days, an increase of 50 percent since 2010 (Source: CEB). So, if your executives aren’t sold on the need for faster hiring, remind them of the severe and real damage that occurs when you hire slower than your talent competitors do.
Damage to Your Employer Brand Image and Future Applications
Your organization’s slowness will negatively impact your employer brand and the possibility of future applications.
- Frustration results in spreading negative comments— a drawn-out hiring process gives current applicants ample time to spread the word about their frustrations to their friends and colleagues.
- Discourage applications— after the hiring process is over, frustrated candidates will post negative reviews on Glassdoor or similar posting boards (which allows negative comments related to slow recruiting) and that will discourage many of the people who are considering your firm to reconsider making an application.
- It may cause you to receive lower rankings— because a bad candidate experience is part of the criteria for ranking “best place to work” firms, slow hiring may negatively impact your ranking on these important lists.
Slow Hiring May Result in Bad Decision-making
Slow hiring may have multiple negative impacts on hiring decisions and on recruiters.
- Slow makes comparisons difficult— when you are interviewing multiple candidates over a long period of time, it is harder to make side by side comparisons because the interviews are spread so far apart and this time spread may lead to costly mis-hires.
- Managers will decide to just end it— during a long drawn out process, hiring managers will, unfortunately, often make a hasty decision just to put an end to the frustrating hiring process. The “let’s settle on this one” approach may also lead to costly mis-hires.
- Recruiter frustration— slow hiring may impact recruiter energy, effectiveness, and even turnover. The morale of recruiters increases with hiring closures.
Hiring Manager Issues
A slow hiring process can also frustrate hiring managers and waste valuable corporate resources.
- Reluctance to hire again— after experiencing a long delay between a requisition and the starting date, hiring managers may put a low priority on hiring, and they may even be reluctant to hire again.
- Wasting a manager’s time and budget— if too many interviews are one of the primary reasons for slow hiring, managers won’t be able to complete all their managerial work if your top choice becomes unavailable due to a slow hiring process. The entire recruiting process may have to be re-opened, which will take even more manager and recruiter time and dramatically increase your recruiting costs.
Fast hiring is especially important during times of low unemployment because the competition for talent continues unabated. Hiring managers must realize that the “magic bullet” solution is speed hiring because speed hiring not only fills vacant positions faster but also allows you to beat the competition for top talent.
- With a TSS tailored approach to the transportation industry requirements, TSS can help you focus your hiring processes for maximum efficiency.
- TSS can help you utilize workflows and measurable resources to process more applicants quickly, with reduced costs.
- With integrated recruiting tools, TSS can help feed your pipeline of qualified candidates.
- TSS Expediting applications and combined required on-boarding documents can help your new employee have a successful onboarding experience every time, to include the I9 and W4 documents and any other items required.
- TSS Accessible cloud-based training 24/7 on all devices can allow an employee hired on a Friday to be ready for extensive hands-on training by Monday, and quite possibly be driving on Wednesday!
Please call or write today, we can begin solving these issues for you tomorrow. 206-999-3619 or visit: www.transportationsafetysystems.com now.