Have you ever been asked to hire a seasoned salesman in one week? But became frustrated because the position was for a new team in a new office and pretty much you did not have any preparation in hand.
An average of $3,073 and 35 days are needed to hire a new employee, according to the Workforce Analytics Report by Society of Human Resources Management in 2013. Time to Fill Jobs in the US, an article published by Indeed in February 2015, shows “For businesses that fail to fill job openings within the first month, there is a 57% chance that the position will remain open for three months or more”.
Three crucial parts compose the hiring cycle. What can we do to significantly shorten each process?
1. Qualified Candidate Pool
Apparently, uploading the job descriptions to job boards is the first thing almost all employers do. Beside this passive approach, some of the HR professionals start to look up each individual website to find the right candidates actively. Digging into the previous resumes collection is another way to find qualified candidates. Building up your connections through networking events costs way more time and doesn’t take effect right away. All these methods can build the candidate pool, but the hiring manager has to review every resume to get the qualified candidates.
Many technologies have been used to cut the cost and time. For example instaTalent Pro utilizes big data, web mining, cognitive analytics and more technology to find the right candidates for a job. It is not necessary to understand these terms, but you do need to remember two critical advantages instaTalent Pro has to give it a try;
1) When you do not have many candidates on hand, instaTalent Pro searches the internet to find the candidates who fit best to your job descriptions. All you need to do is upload the job descriptions to the application;
2) When you have sufficient resumes on hand, instaTalent Pro analyzes each resume and finds the right candidates in a few minutes. All you need to do is upload your resumes and job descriptions to the application;
You will still need to review the resumes after you get the results. But instaTalent Pro narrows down the resumes from 500 or 5,000 to 15 or 50, saving you plenty of time (and cost) in searching candidates.
2. Comprehensive Position Information
Providing a clear job description is not enough. You can describe about the company and advancement opportunities to get more candidates interested in the job. People come for a job for many reasons, such as the role, the environment, the career opportunities, and of course, the salary. Research shows that 47% more applications will come in when there is a salary range or figure on the job posting.(Ref: Recruiterbox) More information can be provided to the candidates who try to figure out the position details by telling them the benefits, the team members, and office details, etc.
3. Carefully Selected Interviewees
It is better to arrange a phone or Skype call for the first round interview, and at the same time, do some research on the selected candidate’s social media. This will tell you a lot about the candidate, whether he or she can fit in the company culture.
It is also better to arrange the in-person interview as soon as possible on the day the decision makers have time. If the interviewee is qualified, you can have him or her meet the decision makers directly. In this way, both candidates and employers can save time spent for multiple interviews.
Interviewees may need to attend several rounds of interviews to get the job, but shortening the waiting time between these interviews can help the hiring manager focus on a particular job opening and make recruitment more smoothly. Let the unqualified candidates know the results, and continue interviewing qualified candidates as soon as possible. The quicker candidates proceed through the interview process, the faster an employer can fill an open position.