When it comes to recruiting, time is the enemy. With the unemployment rate at 3.8%, why are companies still moving soooooo slooooooooow?
Time-to-hire is at an all-time high of 42 days. According to a Glassdoor survey, it takes US companies 23.8 days to complete their interview process. Top talent is getting scooped up and companies are losing millions.
Is it really necessary for candidates to meet with 10 people? Go through a 15-hour vetting process? Wait weeks for a decision?
This exhausts candidates and wastes valuable company time.
And time is a scarce resource in this market.
Forward-thinking companies are using innovative methods to save time, work smart and select the best candidates.
• Online Skills Assessments: Measures soft skills and uncovers opportunities for development.
• Job Auditions: Candidates are paid to do work, craft a strategy or present a plan.
• Temp-to-Perm: Get engaged before you get married. This solves the analysis-to-paralysis dilemma.
• Team Interviews with co-workers: Discuss the role and determine cultural fit.
• Hiring for Potential over Experience: Hire for attitude and train technical skills. Create a personality map for each role. What traits fit best? What weakness is a deal-breaker?
A recent CareerBuilder survey showed 66% of companies plan to train new workers who may not have all the required skills but show potential to excel.
At the recent Connectivity Expo, Jay Brown, CEO of Crown Castle, shared that hiring transferrable skills is a successful strategy to bridge the skills gap in the Wireless Industry. Crown Castle leads the pack when it comes to company culture, development and promoting from within.
The days of the “perfect fit” are over. Purple unicorns will be a thing of the past. “Transferrable Skills”, “Cultural fit” and “Diversity” will be the buzzwords of the future.
• Adopt a “Same Day Hiring Process”
In today’s world, top talent receives multiple, enticing offers. When faced with a long hiring process, 57% of candidates will accept another role or stay in their current job. Many firms are moving to a “same day hiring process”. Interviews are carefully organized with key players then a same-day offer is made.
Leaders: It’s time to simplify your hiring process. Strengthen your internal talent acquisition team. Improve candidate experience. Partner with a staffing firm that understands your needs. But most importantly, move swiftly.
Bill Gates said, “Innovation is moving at a scarily fast pace”.
We need to keep up or get left behind.