You’re taking too long to hire people

It’s taking too long to hire people. In fact, it’s likely that you’re taking too long to hire people.

The business costs of slow hiring can be big, impacting not only your bottom line but also your company's employer brand. Delayed hiring processes significantly hinder your growth and competitive edge. Prolonged vacancies lead to missed opportunities in securing top talent, decreased productivity as teams struggle to cover gaps, and potential revenue losses while critical positions remain unfilled.?

According to a recent report by The Josh Bersin Company, average time to hire was at an all-time high. Energy and Defense had the longest time-to-hire rates at more than 67+ days and Professional Services firms were also dragging it out at a leaner but still too long 47 days. Investment Banking had a wide range of time to hire, from 21 days to 60+ days. Other sources estimate that hiring time has increased from two weeks during the height of the immediate post pandemic boom to upwards of three months in some cases.

Top candidates often have multiple offers and aren’t going to wait that long. By delaying decisions you risk losing highly qualified individuals to competitors who make timely offers, depriving your company of key skills and expertise. A 2024 survey found that less than 20% of employees think three is an acceptable number of interview rounds and that only six percent will wait more than a week to hear back after a final interview before considering another opportunity.

And I think I speak for all that champion the hiring process when I say we know the pain of having to tell a hiring manager that they lost out on an amazing candidate because they took too long to make a decision – and then not having them take accountability for it..

Save yourself this pain by speeding things up. Some strategic approaches that can help:

1. Leverage technology

Obviously Applicant Tracking Systems (ATS) and Human Resource Information Systems (HRIS) software can dramatically reduce time spent on manual tasks like sorting resumes and scheduling interviews and have been essential tools for years. Now, AI, machine learning, and automation are changing the game again, improving efficiency and reducing costs. These technologies can quickly read and rank large volumes of resumes, reduce hiring bias, handle initial interactions, improve the candidate experience with personalization and automatic updates, and more. Be sure you’re getting as much out of modern technology as possible.?

2. Implement structured interviews

Structured interviews, where all candidates are asked the same set of predetermined questions, can significantly enhance the efficiency of the interview process. This method not only saves time but also helps in fair and systematic assessment. By standardizing questions, hiring teams can more quickly compare candidates, reducing the number of interviews required.

3. Realistic and clear job descriptions

Know what you want in a candidate at the start and try to keep the “nice to haves” to a minimum. It can be tempting to stuff as many credentials as you can in there but this has become a running joke among candidates and recruiters alike, and you will scare away perfectly qualified people. Clear and realistic job descriptions help attract candidates who are a good fit from the start and clarity will attract the right talent and avoid wasting people’s time on both sides.?

4. Use video interviews

Incorporating video interviews, especially in the early stages of the hiring process, can save a significant amount of time. Video interviews eliminate geographical constraints and scheduling conflicts that can delay the interview process. They also allow hiring managers to quickly gauge candidate fit and communication skills without the need for a lengthy in-person interview.

5. Focus on candidate experience

A respectful candidate experience can indirectly speed up the hiring process. By communicating clearly and promptly at each stage of the hiring process, recruiters can maintain candidate interest and engagement. Reducing wait times between interviews and providing timely feedback can encourage candidates to stay connected and ready for subsequent phases of the hiring process.

6. Avoid too many cooks

Involving multiple stakeholders in the interview process using a collaborative platform can be useful but it’s not usually necessary to involve the entire company. Direct stakeholders should be empowered to hire for what they need, minimizing unnecessary involvement.

7. Drive data to make decisions and improve

Using data and analytics to understand the bottlenecks in the hiring process can lead to more informed decisions that enhance efficiency. Analyzing metrics such as time-to-hire and interview-to-offer ratios can help identify areas for improvement and implement strategic changes. Continuous feedback loops involving recruiters, hiring managers, and candidates can provide insights into what works and what doesn’t in the hiring process. Regularly updating hiring practices based on feedback and emerging trends can reduce inefficiencies and adapt the hiring process to changing business needs.

8. Just hire someone already

Hiring may be increasingly difficult because there are more educated and qualified candidates than ever before for many positions. Research has repeatedly demonstrated that a range of choices makes it more difficult to make decisions – it’s easier to make a decision from a small pool than from a large one – and that we’re more likely to feel dissatisfied with those decisions then we are when we have fewer options. It’s a modern problem. But you do have to make a decision and should really just do it within a reasonable timeframe. Try listening to your gut. Maybe it knows something.?

Listen to your recruitment professional - whether it’s an in-house talent acquisition or corporate recruitment team or a preferred recruitment and staffing agency: Working with the best, most qualified recruiters can speed up the hiring processes and improve quality of hires, adding value quickly and effectively, and without interrupting productivity flow. If you’re a hiring manager working with a recruiter, trust their abilities to enhance the quality and speed of hiring and ensure alignment with organizational goals. It’s what they do.