The Bayard Brief: Labor Market Insights — September 2022

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The Need for Speed: Tips to Help Your Hiring Process Reach Maximum Velocity.

  • 09.12.2022

  • |

  • Lance Christensen, Senior Director of Strategy

The pandemic-era recruiting landscape has had many employers focusing on speed-to-hire — some for the first time. A well-organized and efficient hiring process has always been important, but current conditions have made it an absolute necessity. With the jobless rate continuing to decline and the number of open jobs climbing daily, companies are looking at ways to improve their recruiting process in hopes of capturing more hires. Speed-to-hire is one area where many companies fall short.

If your company is feeling the “Need For Speed” in their hiring process, here are some tips to help your hiring process reach maximum velocity:

Recruiter Response Time: Fierce competition is vying for every applicant. When a jobseeker clicks an “apply” button, sends a resume, or dials your recruiting hotline, they are actively searching. That is the precise moment to engage your candidate. It is the only time you can be almost certain that they are available for a meaningful conversation. A great introductory call with a recruiter can speed up the hiring process, but more importantly, it has the potential to stop, or at least slow down their job search. Pick up that phone as quickly as possible.

Have the Answers: While it may not be possible to have every answer, your recruiters need to be prepared.  Ensure the recruiting team has access to details for every position they are expected to fill. This should include answers to the most frequently asked questions about your company, as well as the specific role. Recruiters should always review this information prior to reaching out to candidates. Answering a candidate with “Let me get back to you with that.” will give your competition an opportunity to answer the question for you.

Start Simple: Long, complicated, hard-to-find apply paths are a voluntary surrender in the current talent war.  If you have not done so already, consider an initial process that only requires a lead form with basic contact info and 2-3 screening questions (be sure to comply with all applicable “ban the box” laws) and/or resume uploads. Well-qualified job seekers want to speak with a recruiter before investing time into completing a full application. Requiring a full application prior to recruiter engagement can adversely affect your candidate flow, and risk losing some of the best qualified talent.

Passive Candidates: Whether they come as referrals, from networking, or by recruiter outreach, passive candidates often speed through the hiring process. Ensure your company has a robust, easy-to-use referral program. Invest in training your recruiters in best networking and social media engagement practices. Introducing well-qualified passive candidates to the “perfect” position will make for a quicker than usual hire. 

With a faster hiring process, the follow key metrics can also be met:

  • Lower lead-to-hire and app-to-hire ratios
  • Reduced advertising CPH (cost per hire) and overall CPH
  • Smaller ghosting rate (percentage of interested candidates that suddenly vanish in the recruitment process)

Other considerations while pursuing the “Need For Speed”.

Don’t Become a Machine: With so much technology and innovation taking place in the recruiting space, it is easy to forget the human factor of recruiting. Machine learning, artificial intelligence, auto responders, drip campaigns, conversation AI bots, and other great advances have enabled companies to recruit at a scale previously impossible. In doing so, it has become easy to overlook the human side of recruiting. A well-trained, highly skilled recruiter is the glue that keeps your candidates in the funnel.

Respect The Candidate: If candidates perceive a level of disrespect in your recruitment process, they will assume that the same level of disrespect is carried over into employment.  Things to consider:

  • Respond in a timely manner
  • Communicate in each candidate’s preferred method
  • Do not spam (avoid overlapping or conflicting communications)
  • Respect the time of day (account for current work schedule)

Recruiting has never been harder than it will be tomorrow. Having an efficient recruiting process has become an absolute necessity. At Bayard, we understand just how complicated the recruitment process can be. As a full-service partner, we are experts in the entirety of the hiring funnel. We help our clients evaluate every point of their process based on our years of experience and aggregation of industry best practices. Want to learn more about how we can help your organization perfect your hiring processes? Contact us today.