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Doing anything too quickly can lead to costly mistakes – unless it is done correctly. This is one reason reducing your time to hire doesn’t guarantee better hiring outcomes. The good news is, fast and effective is possible. Here are a few ways hiring faster the right way improves your quality of hire:
Filtering non-serious candidates out early
Application processes through job search sites like LinkedIn and Indeed have made it possible for talent to apply for open roles quickly without carefully vetting the requirements or company. This means dozens of candidates who apply to your empty roles may not be qualified.
With a traditional hiring model, you are likely accustomed to reviewing countless resumes and scheduling phone interviews. Sending out one-way video interview invitations to applicants who meet the basic qualifications instead allows candidates to self-filter.
Your team doesn’t waste time on phone screens with candidates who would not likely complete the interview process or earn an offer. It’s widely accepted that the best candidates are off the market in as little as 10 days, so you need to be quick in the early stages of hiring to catch and keep them in your funnel.
Screen more qualified candidates
The speed and efficiency of your hiring process set the parameters for how many candidates you can reasonably consider for each open role. Ideally, recruiters want to move as many qualified candidates as possible into the hiring process, but at 118 applicants a job, they are in for a packed screening schedule. Reviewing resumes and calling up candidates can take weeks to fill a single role.
Your company could be missing out on the best candidates and reducing your overall talent pool by sticking with antiquated interview models. By updating hiring technology with video interview software, scheduling tools, and effective team collaboration solutions, there’s no excuse for passing up top-quality candidates.
Identifying top candidates in the earliest screening stage
Creating a strategy to effectively speed up your early screening process includes improving the accuracy of your initial interviews. This often influences hiring teams to subject candidates to a barrage of AI personality tests, skills tests, and other assessments after reviewing their applications.
Most candidates aren’t willing to wait around for the results of your complicated hiring assessments. And candidates want to share their personal attributes and skills with real people rather than feel as though they are disqualified by a machine or words on a piece of paper.
Giving them this opportunity from step one of the hiring process makes a strong impression on highly-qualified candidates. Plus, you get an accurate assessment of their true abilities and potential that you can conveniently share with peers for feedback before advancing top candidates.
Improving interview completion rates
Because candidates apply for several positions a day and they expect a fast recruiter response and hiring process, they could drop out at any stage of the interview process. Any amount of time your team spends vetting candidates to that point is wasted – not to mention the money drained from your hiring budget to replace them by interviewing more candidates. The alternative is to advance lesser-quality candidates lingering in your hiring process.
Scheduling conflicts, redundant interviews, and excessive screening tests complicate the hiring process and can devastate your speed to hire. Moving forward fast enough to improve interview completion rates ensures all qualified candidates are likely to finish the evaluation process. This means your offers are extended to the true ‘best’ candidate for the job.
Streamlining interview evaluation and collaboration
Finding ways to streamline your hiring process should never mean cutting corners on your evaluation/collaboration among hiring team members. Instead, opting for innovative interview tools and a structured interview process encourages more key stakeholders to offer valuable feedback in less time.
Better informed hiring decisions are made in the process, leading to better quality hires. Video interviews make it possible for everyone necessary to weigh in without inconveniencing their schedules or slowing down hiring decisions.
There are a few ways implementing video interview software into your hiring strategy contributes to improved quality of hire, while speeding up collaboration.
- Reduced influence of unconscious bias
- Screening for culture fit and culture add
- Evaluating soft and hard skills
- Improving manager satisfaction
Getting to the offer stage ahead of the competition
It’s a candidate’s market (even when it’s not). Since the Great Resignation, candidate expectations have been higher than ever. And when unemployment is low, most candidates who apply to your jobs are only passively looking for career changes.
These busy candidates casually apply to multiple positions and many will take the first ‘best’ offer to advance their careers. A faster hiring process means you can get top talent to the offer stage and secure high-quality talent before they land another job.
Adopting a faster and more efficient hiring process mitigates the risk of losing top candidates before they advance to the offer stage. By implementing innovative hiring practices and tools, like video interview software and structured interviews, you maximize your hiring velocity – filling empty seats with the highest-quality hires when and where you need them.