We all have heard the famous saying, “Time is money”, and for recruitment, this holds absolutely true. Time to hire is one of the top key performance indicators for the recruitment team. A lengthy recruitment process has a negative impact on the candidate experience. Also, a delay of even one day can have a compounded effect on the bottom line in terms of higher financial costs. Thus it is really important to adopt methods and tools that can shorten the time to hire.
- Build a ready to use candidate database for hiring to reduce hiring cycle time
- Put in place a structured recruitment process to improve time to hire
- Adopt automation to reduce lead time in recruitment process
- Establish clear communication channels with all stakeholders to reduce tat in recruitment
- Improve your careers website to reduce recruitment cycle time
Build a ready to use candidate database for hiring to reduce hiring cycle time
Those who sweat in peace, bleed less in war. If you want to reduce your time to hire, the most important step would be to have a ready made talent pipeline which you can refer to when any new requisition comes. For this to happen, it’s essential to always be on the lookout for outstanding talent. Thus recruiters should source candidate proactively by identifying the roles that require frequent hiring, pre-determining the requirements such as skills, aptitude, identifying the sources that could get you the ideal candidates and reaching out to them. When you will have a ready to use candidate database for hiring, you won’t have to go through the entire process of advertising the job and waiting for the applications to pour in every time there is an open role.
(Also Read: Why Employee Referrals are the Best Source of Hire?)
Put in place a structured recruitment process to improve time to hire
While this might seem too obvious, but there are many small to medium enterprises that still do not have any documented hiring process in place. Without a structured process, the recruiters have to spend longer time to fill as they end up starting from scratch for every hire. A process is not established until it’s on paper; therefore, recruiters must map out the entire recruitment journey including all possible steps and scenarios. This is the only way one can understand the gaps and improve them. With everything documented, recruiters know exactly what to do and what not to, at every step, hence reducing redundant activities and improving the time to hire. This will also impact the costs per hire positively, improve visibility and make the recruitment process more measurable as well as transparent.
(Also Read: Steps to improve recruitment and selection process)
Adopt automation to reduce lead time in recruitment process
Automation is not just a shiny new term in the business. It’s the reality of this time and every industry is looking to automate repetitive tasks to reduce costs and improve performance. Why should recruitment be left behind? By adopting a good recruitment software, organizations can automate their entire recruitment cycle from requisition to onboarding. How does this reduce time to hire? A recruiting solution automatically screens the incoming profiles and parses them to provide structured data. It allows recruiters to search profiles matching the requirements, schedule multiple candidate interviews and even send offer letters, all with a click of a few buttons. With a comprehensive applicant tracking system recruiters can simplify and streamline their recruitment flow, increase visibility and cut their time to hire without losing on quality.
(Also Read: Recruitment Software Benefits)
Establish clear communication channels with all stakeholders to reduce tat in recruitment
One of the biggest reasons of lag in the recruitment process is delayed or vague communication between various members of the hiring team. This team includes every person involved in the hiring of a candidate, whether it’s the recruiter doing the actual hiring or a Marketing manager who has raised the request for hiring. Without a well-established communication process, getting approvals for hiring or receiving feedbacks post interview may take some time which can increase the time to hire considerably. One solution for this could be to employ a recruitment management system that has modules for capturing feedbacks and getting approvals through an automated workflow. Any solution that eases communication between candidates, recruiters and hiring managers is bound to have a positive effect on the time to hire.
Improve your careers website to reduce recruitment cycle time
Careers webpage is a significant source of candidate profiles for any organization. Any candidate who is really interested in a position in a company will definitely check their website and careers webpage. If this website is not optimized for best user experience or doesn’t provide clues about the company’s vision or culture, it surely is going to put the candidate’s mind in doubt. The candidate may take longer to take his decision or may drop off completely. In both the cases, recruiters will find it difficult to quickly source candidates for hiring, thereby lengthening the recruitment process. Therefore, it’s essential to improve the company career website, or finding a solution that not only provides you a branded careers webpage but also integrates it with the ATS, thus improving your performance and reducing time to source candidates.
(Also Read: 5 Must Haves for a Company Careers Website)
A delay of a single day in hiring candidates comes at the cost of productivity and revenue. Therefore, improving time to hire is of critical importance.