The recruitment process is all about time and efficiency.
Not being able to fill an open position fast enough increases the cost to hire, as recruiters are willing to compensate more in order to fill the vacant position. At the same time, a longstanding vacant position affects employees’ workloads and inadvertently affects the overall business as well.
As such, speed is crucial in order for organisations to hire top talent. Here are four strategies to speed up your hiring process without compromising on the quality of your hires.
Leverage on social media
Given that social media is all the rage today, it is in fact one of the most powerful recruitment tools. According to LinkedIn’s report on Hiring Statistics, social professional networks such as LinkedIn, Jobcase and even Twitter threads are ranked the number one source of quality hires by recruiter as compared to internet job boards and employee referrals. The same report also indicated that close to half of new employees sourced through LinkedIn are less likely to leave the company within the first 6 months. If your company has yet to establish a strong brand amongst these social professional networks, perhaps it is high time to do so.
Set up an employee referral system
The number one way for employees to discover a new job is through a referral. Given that there might be a huge network of quality talent within your employees’ connection, it might be worthwhile to tap into this powerful resource and let your employees play a role in recruiting superstars for the organisation. In fact, statistics have shown that companies are likely to expand their talent pool by almost 10 times by recruiting through their employees’ networks. Setting up an employee referral system makes it easier for organisations to leverage on their employees networks. At the same time, organisations can consider incentivizing employees, such as providing referral bonuses.
Create an amazing candidate experience
Understanding what job candidates seek during their job search can help your organisation to craft a unique recruiting strategy to attract top talent faster. Strategies such as providing feedback to job applicants have proven to be highly effective with key talent being four times more likely to consider an organisation for a future opportunity when constructive feedback is being offered to them. Likewise, almost all (95%) of job candidates have indicated that they are likely to accept a job offer when being contacted by their prospective manager. An amazing candidate experience is likely to keep your talent pool engaged and consider your organisation for future opportunities.
Make use of AI
With the rapid advancements in technology, AI is increasingly being leveraged on in recruitment processes. Features such as initial screening of candidates, chatbots to address common questions from candidates as well as scheduling of interview timings can all help to speed up the recruitment process, while improving the overall candidate experience as well.
These key strategies can certainly help your organisation to hire faster, particularly when there is a need to recruit high-end or in-demand talent. In the long run, it helps to reduce money and valuable resources on covering additional workloads due to the vacant position.