When it comes to skilled laborers, top job seekers get taken off the market quickly. This means it’s critical for all employers to have an efficient hiring process in place to avoid losing top talent to other job opportunities. Many organizations not only lack a standardized hiring process, but also don’t have access to the right hiring data to hold managers accountable to improving over time.
Does your team have an understanding of your total time to hire and when candidates are getting held up in your hiring process? If not, you’re likely missing out on qualified candidates to employers with more efficient hiring in place.
Below, we’ve outlined how your team can tap into hiring data to hold managers accountable, outline actionable steps to improve your hiring process and, as a result, hire qualified employees.
Measure and speed up your time to hire
Depending on the type of role you need to fill, your hiring process could take anywhere from a week to 30 or more days, especially if you need to find candidates with specialized skill sets. But the most qualified job seekers receive job offers within two weeks, so if you have a lengthy hiring process, you’ll lose the most qualified candidates along the way. This means it’s important for your team to take proactive steps to measure and speed up your time to hire.
The right hiring metrics can help you better understand your total time to hire by highlighting criteria as: percentage of applicants reviewed, overall time to review, and time spent in each hiring step. Armed with this data, your team can have insight into when candidates are getting held up in the hiring process — and identify steps to improve. For example, one or more of your hiring managers might have a low applicant review rate. To address this issue, you can consider tapping into prescreen surveys to automate initial candidate review — and ensure all candidates are being reviewed. By speeding up steps where candidates tend to get held up, you can decrease your overall time to hire, secure quality candidates, and drive profitability.
Complete all hiring steps
Your team shouldn’t skip crucial hiring steps simply to speed up the hiring process. By skipping steps, this can result in hiring candidates who aren’t a fit for your team and can even pose a compliance risk.
In addition to measuring and improving your time to hire, you can also leverage hiring metrics to ensure your team members complete all steps of the hiring process — also known as process adherence. This hiring data gives you transparency into such numbers as: percentage of hiring steps completed, percentage of hires who completed all steps, and percentage of candidates with skipped steps.
A candidate might pass your prescreen survey and interview process with flying colors, prompting your team to rush into extending an offer before the candidate receives a competing offer. But this can lead to missing critical steps in the hiring process — such as completing reference and background checks — which can lead to serious consequences down the road.
Hiring metrics related to process adherence helps you hold hiring managers accountable to following to each step in the process for every candidate. Doing so will help you rest assured knowing each candidate is truly qualified before extending an offer.
Set and aim to meet goals
Once your team has transparency into your total hiring time, process adherence and key areas for improvement, you can outline actionable steps for continuous improvement.
With the insights and analytics functionality within the Hireology platform, users can access several key hiring metrics, including time to review and time to hire.
With measurable goals in place, you can hold your team accountable to reviewing applicants regularly, which will ultimately help decrease your time to review and time to hire and, as a result, hire candidates who will drive results for your team.
Are you interested in learning more about how your team can make the most of hiring data to improve your hiring efficiency? Schedule a free demo today!