The Benefits of Hiring Faster: Why Speed is Crucial12/12/2017
By Shannon Vize, Content Strategist at Mondo, an Addison Group company
You need high-end, hard-to-find talent and you need it now. However, your lengthy hiring process could be negatively impacting your ability to hire the Tech and Digital Marketing talent you’re after. The average length of the job interview process in the US sits at 23.8 days, according to Glassdoor’s 2017 analysis, up from only 13 days in 2011. And that’s just the national average. A 2015 Deloitte study found that it took, on average, 94 days to recruit for highly skilled Tech roles. If your hiring process lasts several weeks or longer, it’s time to reevaluate it. Discover the benefits of hiring faster and learn why speed is crucial to netting your teams the hires they need.
The Top Benefits of Hiring Faster
1.) Save on Costs & Resources
One of the top benefits of hiring faster is the money and valuable resources your business will save. Shortening the length of your hiring process reduces the amount of time hiring managers and HR or hiring departments have to spend recruiting, researching, and screening candidates. It also limits the amount of time hiring managers and team members that work directly with the available role have to spend interviewing, which, as we all know, is valuable time spent away from their day-to-day responsibilities. There’s also the ongoing cost of your unfilled role to consider. Depending on the role, you may have to supplement the vacancy by expanding the workloads of your other employees, outsourcing to freelancers, or pushing back releases of new software or products; Costing your business revenue and money. By hiring faster, you’ll save on valuable resources, like your hiring managers time, and the costs associated with the vacant role.
2.) Access to Higher Quality Hires
Highly qualified talent isn’t on the market for long, especially when it comes to in-demand Digital Marketing and Tech professionals. A common problem many hiring managers and departments face is that by the time the decision is made, and a candidate is fully approved and cleared, the candidate is no longer interested or available due to increased demand for their niche skill sets. Having a longer interview process means you risk losing the high-end candidates you’re interested in to other opportunities. Limiting the interview process to a few days or weeks rather than a month or longer ensures the high-quality talent you’re most interested in is still available once the final decision is made.