How to Reduce Time to Hire: What You Need to Know

How to Reduce Time to Hire: What You Need to Know

When filling a C-level executive position, it’s obviously important for HR professionals to take their time. This person is going to play a major role in the organization. Finding the right fit is essential.

That said, there are often cases in which inefficiencies in the hiring process result in wasted time and money. That’s why it’s important to identify and address these issues.

The following are key tips to keep in mind if you are trying to reduce your organization’s time to hire. Again, while your main goal should always be to find the ideal candidate for a given position, keeping these points in mind can help you reduce waste and save money.

 

Examine Your Hiring Process First

Before you address inefficiencies, you must be able to identify them. That means you need to do some self-research into your organization’s hiring processes.

This involves examining your current time to hire data, and comparing it with industry averages. A Spark Hire survey of 500 hiring professionals found that 49% of respondents reported that their time to hire was seven to 14 days, counting from receipt of a resume to sending an offer letter. Nearly one-quarter of respondents said this process took 15 to 30 days at their organization.

However, the time it takes can vary on a position-by-position and industry-by-industry basis. So if your company needs a new CEO, as an HR specialist, you should research the average length of time it takes others in your industry to find new CEOs. Then, you should look at your own company’s history, specifically focusing on how long it has taken you to fill similar roles in the past.

You may be happy to find that your time to hire is well within the average range. However, if it’s longer than average, there’s more urgency for you to analyze your hiring processes to spot the inefficiencies.

 

business woman

 

Research Available Tools

Once you know which steps in the hiring process are causing you to waste the most time and money, you can research methods of addressing them.

This may involve using new techniques and technology that can speed up key processes. For example, perhaps you’re waiting a long time to receive applications after posting a job opening. This might indicate that you’re advertising the job on the wrong social media sites (or maybe you’re not doing this at all.) Perhaps you haven’t tapped into your existing employee pool with a referral incentive program—or simply communicating to the rest of the organization that you’re looking for talent. After all, referrals are one of the best ways to find quality applicants. Organizations with a larger budget may also want to consider paid advertising; besides helping you find good candidates, this can be an opportunity to reinforce your brand.

It’s also possible that you’re relying too greatly on conducting numerous face-to-face interviews when selecting candidates. While it is certainly important that all relevant personnel get the opportunity to meet with a candidate to some degree, you may have more success if you leverage technology to conduct interviews with greater efficiency. Requiring a candidate to travel to your office for interviews on multiple occasions isn’t always the best strategy. You might benefit from streamlining the process with phone screenings or video chat interviews when necessary.

 

Prepare Ahead of Time

Don’t wait until you need to fill a position to begin researching candidates. By examining your own past data, you can better predict when you might need to hire someone new. This gives you the chance to look into candidates ahead of time.

Use social media platforms like LinkedIn to identify people you might consider in the future. Consider attending networking events where you may be able to develop professional relationships with candidates in your industry. In addition, don’t forget to look at your current staff—many of the people already in your organization may have upper management potential. These individuals also have the benefit of familiarity with your operations and organizational culture. A mentoring program or even an informal, but still concerted effort to groom promising talent for the C-suite can help cultivate the next generation of your organization’s leadership.

No matter what methods you use, a proactive approach helps you save a lot of time when a position opens up.

 

team working
Image courtesy of Carbon Tippy Toes on Flickr.com

 

Perfect the Job Listing

Organizations can waste a lot of time during the hiring process if many candidates turn out to be less qualified for a role than they initially appeared. If a potential candidate doesn’t have a thorough idea of what the job entails, they may express interest in a role they ultimately are not suited for.

That’s why it’s so important to create thorough, detailed job listings. Yes, if you’re extremely specific in your listing, there is a possibility that you will discourage some potential applicants from pursuing the role.

However, that can actually be a good thing. Obviously, you only want to interview and screen candidates who are perfectly qualified for a given position. With a specific and thorough job listing, you can be confident that anyone who is still interested in the role is confident in their ability to succeed. This helps you weed out applicants who might otherwise waste your time during the hiring process.

Finding the perfect fit for the job should always be a priority, and this can take time. Still, spending too much time on the hiring process is simply a waste of important resources. These points will help you reduce the time to hire while still finding candidates who can benefit your organization.

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