Reducing time-to-hire with recruitment software
When a new vacancy opens, it is often vital for employers to quickly fill the position so that the company can continue to operate smoothly. A gap in the workforce can be both disruptive and costly for businesses, and because a new hire can require a period of training before they are up to speed, it’s important to act quickly to minimise the time that the job is not being done.
However, with a recent study showing that recruitment is becoming a lengthy process, organisations may need to look for ways to reduce the time-to-hire. How can efficiency software help with this?
The recruitment process is becoming longer, increasing the risk of operational disruption for businesses.
The hiring process is taking longer than ever
Research from Glassdoor has revealed that employers around the world are taking longer to hire suitable candidates. According to the study, it takes an average of 22.9 days to recruit a new employee in the United States, and in countries such as the United Kingdom, Germany and France, the process is between four and nine days longer. This means that companies are spending longer with a workforce gap, increasing the likelihood of continuity and operational issues occurring as a result.
Glassdoor says that the increase in time-to-hire is somewhat due to a shift in the hiring policies of employers and a longer interview process, likely the result of the difficulty finding suitably qualified talent in a competitive market.
For Australian businesses, these conditions create a need to find new ways to reduce the duration of the hiring process where possible. As thorough interviews are essential for finding quality professionals and should not be compromised, employers will want to look for other aspects of recruitment that can be done more efficiently.
What can employers do?
One of the biggest criticisms of the time-to-hire metric is that it compromises competency in favour of increasing speed. Because companies may not find the perfect candidate immediately, rushing the process may result in a bad hire and only incur further costs. However, adopting a software solution may be the answer to achieving both speed and quality simultaneously.
Recruitment software helps to streamline the hiring process, providing tools such as workflow automation and Job Status views. Time-consuming admin tasks are made more efficient, with an end-to-end system able to manage everything from interaction to payroll. This helps HR consultants to be much more productive overall, allowing them to focus their expertise on what they do best – finding the right talent for your company.