Many recruiting teams don’t realize or understand the importance of hiring candidates quickly. Some of them think that the more time they spend on hiring, the better candidates they can get. However, that’s not the case.
If you can decrease your time-to-hire, you can increase your offer acceptance rates and build a stronger employer brand. It will also make your senior managers happy as they don’t have to compromise on productivity or revenue for long.
In some cases, even if the recruiting team understands the importance of reducing the time-to-hire, they fail to do so. This is because they’re not aware of the steps to take to decrease the time-to-hire.
So, here are some effective steps that can help to decrease your time-to-hire.
1. Create a Talent Pipeline
This is one of the most effective strategies to cut down your hiring time during the candidate sourcing process. With the help of this strategy, you can identify potential talent for your key job roles even before the positions open up.
This approach will actually help you eradicate the need for an ad-hoc sourcing approach. In fact, this approach gives you enough lead time to evaluate the skills and cross-check with the references of your potential candidates.
2. Take Quick Action When Top Candidates Apply
This can help you decrease your time-to-hire effectively. You need to be on your toes and reply to top candidates quickly before they get hired by your competitors. When top candidates apply, you need to organize a telephone or video interview as soon as possible.
It saves a lot of time as they don’t need to travel for this and it’s quick and easy to conduct. These top candidates might have other pending offers with them as well. So, you need to speed up the entire hiring process, considering the fact that highly qualified candidates have applied.
3. Make an Offer on the Same Day
After the interview process, a slow closing process might have a negative impact on the time-to-hire. Some companies take a lot of time to arrive at fair compensation for the candidate. And it turns out to be a major obstacle in completing the hiring on time.
Also, it makes the candidate very anxious and it becomes an important deciding factor for them. So, to speed up the closing process and decrease your time-to-hire, you to need to make an offer on the same day.