How long has it been since you’ve revisited the different steps involved in your hiring process? We often see processes stay in place because people are too busy to question the system. This is a big pitfall when it comes to recruiting and hiring talented people. How many steps and how many days does it take a candidate to go from an application to an offer letter? According to a study done a couple of years ago by Glassdoor, the national average is 23 days—or just over three weeks. And more recent reports have this average closer to 30 days. What are the pros and cons to a faster hiring process? Read on to find out…
You don’t adequately screen your candidate and they end up being a poor fit for the job, or they turn out to have some strange skeleton in the closet. Yes, this is a risk—but it’s always a risk even if your hiring process takes 8 weeks. Research shows that an average of 46% of new hires don’t last. With success rates as mediocre as this, it’s even more of a reason to shorten your process.
Hiring is expensive. A long process means you give yourself less time to correct costly mistakes. If your process takes 4 weeks to hire, then 2-3 weeks to train, that’s almost two months. If you go through three bad hires, that’s nearly half a year spent and you’re back where you started.
Reducing the time it takes to hire lets you move more quickly into the training phase—this is really an extension of hiring and it’s usually when you’ll determine whether someone will be a long-term fit. By speeding up the formalities that let you get to this point, you more quickly establish whether a candidate has the work ethic, personality, and aptitude they need to excel with you.
Another major benefit to a faster hiring process is that you reduce the risk that your candidate will be swooped up by another company. Once a person is in active job search mode, they’ll be open to entertaining other opportunities as well. If your competitor has a shorter process that requires less hoops to jump through, it’s an easy decision for most job seekers. Don’t let a packed schedule or an inability to connect with colleagues keep you from making your hiring process move faster.
If you do require a longer hiring process, be sure to communicate that up front to your candidates. While we believe an average of 23-30 business days is too long, one thing that we always stress with our clients is the importance of defining their hiring process in a way that is consistent. By having a formal process, you minimize risk, avoid skipping crucial steps, and ensure that potential employees have a similar experience, regardless of the final outcome.