5-Steps to Shorten Your Recruiting Cycle

Looking to accelerate your #hiring process and find your next top-performing employee quickly?

The following blog provides the top tips and strategies to streamline your #recruitment process. From optimizing your #job postings to leveraging technology, our 5-step process is designed to save you time, reduce costs, and increase your chances of finding the right candidate.

Whether you're a small business owner or part of a larger HR team, this post is for you. Don't waste any more time on a lengthy recruitment process: Implement our 5-step strategy and get ready to make your next great hire!

Introduction

Successful entrepreneurs and business leaders know that great analysts, strategists, and operations talent provide the key insights and execution decisions that ensure long-term success.

But today’s labor market is highly competitive, and building a top-tier team is increasingly difficult.

The recruiting team at Global Hires has been finding the best talent in the US and globally for over a decade, so we compiled our top tips to help you "crack the code" to great recruiting.

In this first episode, we show you five key steps to shortening the recruiting cycle.

On average, businesses take 7 weeks to fill an open position and the best candidates are off the market in 1.5 weeks (Thakkar, 2022)

Step 1: Technology Implementation

*Save one week

Quickly implement simple but effective SaaS-based recruiting software.

1. Tracking dozens of applicants is confusing and time-consuming. A great Applicant Tracking System (ATS) utilizes reports and dashboards to reduce recruiting time while improving candidate quality. Global Hires uses Greenhouse, which integrates seamlessly with LinkedIn. Forbes ranks it as number 1 for mid-size businesses, but it’s also great for small companies.
2. Effectively screening and communicating (internally and with applicants) is critical. We recommend using automated hiring assessments and video interview platforms like HireVue. Additional communication tool providers include LinkedIn Recruiter, TextRecruit, and Workable.

Check out Forbes’ top 11 Applicant Tracking Systems of 2023 .

Over 65% of small and medium-sized businesses (SMBs) aren’t effectively using recruiting tech (Henderson, 2022)

Step 2: Streamlining

*Save half a week

Improving your recruiting process leads to better outcomes and allows management to focus on the final selected talent.

Be sure to get written signoff on talent expectations from hiring managers or other stakeholders before starting the search. These include:

• Experience
• Technical requirements
• Cultural fit
• Salary range.

Then agree on feedback turnaround times and decision-making.

On average, hiring one candidate takes away 2.5 weeks of management time (Thakkar, 2021)

Step 3: Regular Candidate Check-ins

*Save one week

Nearly 60% of applicants drop off due to the hiring process's length and lack of effective communication (Thakkar, 2022)

Frequent, compelling, and thoughtful communication is vital in keeping and closing the best applicants (The Access Group 2021).

For promising candidates, communication should come from the recruiter, the hiring manager, other senior executives, and, as needed, the CEO!

The best candidates are off the market in 10 days (Thakkar, 2022)

Step 4: Develop a Comprehensive hiring strategy

*Save one-third of a week

Create and execute a plan to effectively meet short-term, long-term, and unexpected or urgent hiring needs.

Build a pool of outstanding, pre-screened analytics, strategy, and operations candidates who can fill new roles across your organization on short notice.

Develop a timeline for implementing SaaS-based technology as discussed In step 1, the cost-to-value ratio is compelling!

83% of companies need talent more quickly than anticipated to accomplish their goals (Global Hires, 2022)

Step 5: Utilizing a Recruitment Agency

*Save four weeks

The most time-efficient solution remains using a proven recruiting company. The best firms have a deep pool of warm candidates, utilize best-of-breed technology, and are exceptional at engaging top-tier talent. They also stay involved to ensure the new hire gets off to a great start.

A recruiting agency specializing in hiring analysts, strategists, and operational talent can reduce the time needed to fill your open positions to just 3 weeks (Thakkar, 2022)

Closing Word

Keeping in mind all of the stuff you read, what would be your take on the whole situation? Would you change something? Do you consider some important points to have been left out? Let us know in the comments below, as we would love to hear your opinion!

Don't forget to subscribe to the newsletter to stay updated on the most relevant industry trends. See you next week!

References

The Access Group. (2021). World of candidate screening and compliance. Retrieved from https://www.theaccessgroup.com/en-gb/recruitment/resources/candidate-attraction/world-of-candidate-screening-and-compliance/

Global Hires. (2022). Companies: Fast, Focused, Proven. Retrieved from https://www.globalhires.com/company Henderson, R. (2022, November 18).

What is an ATS? 8 things you need to know about applicant tracking systems. Jobscan. Retrieved from https://www.jobscan.co/blog/8-things-you-need-to-know-about-applicant-tracking-systems/#:~:text=Let's%20quickly%20sum%20up%20what,small%20organizations %20rely%20on%20them

Thakkar, R. (2022, July 16). Top 100 hiring statistics for 2022. LinkedIn. Retrieved from https://www.dhirubhai.net/pulse/top-100-hiring-statistics-2022-rinku-thakkar/