If the recruitment process is too drawn out, a perfect applicant may end up getting frustrated and start looking for other opportunities. Here we look at why the time taken to hire is becoming increasingly important in a competitive hiring market and how some companies have attempted to speed up their processes.
Organisations can spend too long making a decision on a candidate and risk missing out.
Examples of global companies hiring faster
According to a KPMG survey of 400 new graduates, more than one third said they were annoyed by the company's long recruitment process, especially the period of time it took between having an interview and hearing back from the company.
The global accountancy firm wished to attract more millennial staff, so the feedback from the survey led to the company transforming its interview procedures. As a result of these changes, KPMG dramatically shortened its hiring process – from several weeks to just a few days.
The company's interview process used to involve three separate assessments conducted on different days quite far apart. Now, all three assessments are carried out on a single day and KPMG is able to inform applicants if they were successful or not within two business days.
US investment bank Goldman Sachs also changed its interview processes recently in a bid to streamline its recruitment processes. Hoping to attract a broader range of new undergraduates to the firm, it decided to conduct first-round video interviews rather than the the usual face-to-face formalities.
If the recruitment process is too drawn out, a perfect applicant may end up getting frustrated.
How can a recruitment agency help speed up your hiring?
If you are wondering if there are some things your organisation can do better to speed up its hiring process and reduce the risk of losing good quality candidates, one option is to get a recruitment agency involved.
Contact Flexi Personnel's HR Consultants to find out more about how we can help you transform your hiring processes. We will review your procedures and help make the process fast and easy for everyone. To find out more, get in touch today.