How Slow Recruiting And Offer Processes Can Damage Your Company
If you work in human resources and you have past experience as a recruitment or staffing professional, you should already know that quick and efficient recruiting should be one of your top priorities. However, many outside of HR and Recruitment do not always see the benefit of a speedy process.
From reviewing CVs, to interviews, offer letters, and more, you should focus on both speed and efficiency when hiring a new recruit to your company.
Why? Because slow recruiting processes can seriously damage your reputation, and your company. You can lose out on talent if you take too long to provide an offer – even if a recruitment company brings you top candidates.
So if you’re struggling to speed up the process of recruitment, here are just a few reasons you should make it a priority.
If you wait weeks to contact a candidate, it has a negative impact on their self-worth. They may think that they are being rejected, when in reality you are simply still parsing through the available recruits, and choosing the best one for the job.
They may also think that they are the “last choice”, and that the other, more qualified candidates that you had have all fallen through. Either way, this isn’t a good thing for your corporate reputation, and it could have an impact on employee retention in the long run.
2. The Candidate Has More Power – And You May Have To Offer A Bigger Salary
The longer a candidate has to wait after an initial offer, the more likely they are to realize their true value – and ask for a bigger salary. During the initial offer, they may agree outright to your initial salary.
However, if the offer letter does not come for several weeks, they may say to themselves “I think I’m worth more than that – and I think you’ll pay me more.” Often, they’re right – and if you had sent that offer letter more quickly, they would have agreed to the initial salary. But since you waited, they may require a higher offer.
3. You’ll Lose High-Demand Candidates
Top-tier candidates tend to know their self-worth – and they know that they can get just about any job. So if you make them wait around for days and weeks without updating them about the status of their application, guess what? They’ll find a better offer – or simply decide to stay with their existing company.
They have the power – you don’t. That means that you must make them a priority, and do everything you can to recruit them.
4. High Opportunity Costs
Every day that a mission-critical position goes unfilled could mean lost profits for your company. If you take weeks to simply interview a candidate or send them an offer letter, quite a bit of revenue may be lost.
5. Slow Hiring Damages Your Reputation
You don’t want to damage your corporate reputation, especially when you work in HR. Of course, HR workers have many responsibilities – but one of their most important responsibilities is interviewing and recruiting candidates for open positions.
Would you hire a construction company that takes three weeks to place the foundation of a home? Would you buy a pizza from a company that promises 30 minute delivery – but takes four hours?
Probably not! In the same vein, the most qualified individual candidates and clients are likely to avoid your company if you have a reputation for a slow, weeks-long interview and hiring process.
Focus On Speed And Efficiency – And Avoid These Issues!
At Westminster Search, we encourage you to speed up the recruitment and offer process at your company. You don’t have to be hasty – but by lowering your turnaround time and staying in constant communication with the most promising candidates, you are much more likely to find the best employees for your open position.
Westminster Search are experts in the recruitment of professionals across the Public Policy, Public Relations and Property sectors.
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