Striking the Right Balance in Hiring

As a recruiter, how will you track your hiring success? Are you aware of the ways to optimize the process of hiring candidates?

 

Well, it is high time you follow the recruitment metrics. The metrics are measurements that help you evaluate the hiring process and assess if you are hiring the right person.

 

Making the right decision at the right time is important for a recruiter. So, how do they use recruitment metrics and weigh their actions?

 

Recruiting speed and hiring for quality can be de-facto for a perfect hiring process. Now let’s understand what recruiting speed and hiring for quality are all about.

 

Recruiting speed is the time taken by the recruiter to move a candidate from a mere point of contact to a selected candidate accepting the job offer.

 

Whereas the quality of hire means the standard that an organization sets for a candidate to perform satisfactorily in a job role.

 

However, recruiting speed and quality of hire are the two biggest hiring challenges that a recruiter should tackle in their day-to-day scenario.

 

Most of the time, recruiters often get to hear from candidates that the hiring process was too long. Sometimes hard-to-find talents will get a competitive offer and be placed soon. So, it is crucial to have a speedy hiring process.

 

Do you think processing the candidates’ profiles and releasing offer letters within a short duration can impact the quality of hire?

 

To answer this, let’s observe how speedy hiring facilitates the quality of hire.

 

Top talents are taken soon

 

The slow hiring process will let your top talent lose their hope and interest in your job offer. Instead, if you buck up and complete your hire, the newly found talent will stay with you. So speedy hiring processes always attract top talents.

 

Slow hiring entices average talents

 

With slow hiring, your top talents are taken by a competitor, when all top talents are taken, only the average talents are spared. The quality of hire goes for a dip because of the slow hiring process.

 

Fast-paced decision-making is ideal

 

Any decision that is taken quickly can have repercussions. However, in a corporate world, decisions are taken fast to persuade employees’ trust. Likewise, candidates will also prefer quick decisions made on the hires. It enables candidates to accept the offer with much more confidence.

 

Candidates are open to choices

 

Slow hiring pushes the candidates to look for other opportunities. By the time they receive an offer, candidates will have multiple opportunities at their doorstep to pick and choose from. They no longer have to wait for the recruiter who is following a slow process.

 

Fast hiring eliminates negotiation

 

When the recruiter completes the hiring in a flash, the candidate is left with limited time to negotiate on their remuneration and designation. The candidate will accept the offer and move on with the flow. It is a favorable situation for the recruiter, they will be able to roll out the offer within their budget without having to go back and forth with management and the candidate for pay-related divergences.

 

Slow hiring undermines diversity

 

Top talents will want to work in a diverse workplace. On the other hand, recruiters with their slow hiring mentality will lose out on real good talent looking to work in a diverse company. These candidates will be pulled into a company that embraces diversity.

 

Having understood the correlation between the speed of hire and quality of hire, your goal should be to avoid slow recruiting speed and increase the quality of hire. Convince your management to follow an automated hiring process that boosts the speed of hiring and fetches the right talent for the organization.