Earlier this year, Dr. John Sullivan wrote a piece for ERE detailing the top 12 reasons why slow hiring damages recruiting – and hurts business results. Sullivan quotes a candidate who dropped out of the running for a coveted position because the hiring manager took too long to respond:
It’s not like I need their job. If it takes them a week to respond to a resume like mine for a job of this importance, they’re not the kind of company I want to work for. I move fast, and I can already see that my style wouldn’t fit in their culture. – Wind River Associates
It’s true that slow hiring puts you at a big disadvantage in the recruiting process. As Dr. Sullivan argues, moving too slowly can lead you to miss out on top candidates, lose revenue and productivity, and even damage your reputation as an employer and an organization. And with average time to fill at 25 days, its longest duration since 2001, there’s a good chance that many companies are feeling these effects.
However, there’s also risk involved when it comes to hiring too quickly. If you make an impulsive decision because you’re worried about losing a candidate to another company, you could end up hiring a candidate who’s a bad fit — and who ends up being a bad investment.
When it comes to hiring, talent acquisition professionals should follow the Goldilocks principle. The hiring process shouldn’t be too slow, and it shouldn’t be too fast.
The right pace depends on several things: the size of your organization, your company culture, the position you’re hiring for, and even the individual candidate. A company with 10 employees may want to spend more time getting to know a candidate than a company with 500 employees. Some candidates may seem like a perfect fit right away, while others may take several rounds of interviews.
To get the top talent — and ensure that they’re a good fit for your company, find the right pace for your hiring process.
Below are a few things to remember to help you do just that. keep reading…