How to Cut Costs by Reducing Time to Hire
Business magnate Steve Wynn, best known for his collection of Wynn properties, once stated, ïHuman resources isn’t a thing we do. It’s the thing that runs our business.ï Hiring is no small part of a company’s success, but is often the very thing that runs it. While it is necessary to engage in a thorough process of such an important task, taking too much time can hurt an organization’s bottom line. Here are a few tips on reducing time to hire to cut company costs while maintaining a quality search.
Clarify the Job Profile
Before beginning the process, know exactly what the job is. Get input from everyone involved to clarify what the position entails and a detailed description of the role. You are more likely to agree on a candidate if everyone is looking for the same skill set with the same expectations from the start.
If possible, hire someone who is already working with your company. This eliminates the busywork of background checks and extensive references, and allows you to find someone who may already understand what the position entails. You can also rest assured that she or he is already one with your company culture.
Screen in Bulk
Set aside a substantial chunk of time to go over that stack of applications so you can get in the proper mindset and fly through faster. It is easier to compare and look for specific details when you are focusing for an extended period of time than if you just grab a couple applications at intermittent times over an extended period. You will often be reducing time to hire if you prioritize this step to get the process underway.
Streamline Phone Interviews
Set the stack of candidates next to the phone with the questions you wish to ask next to them, and then go to town. Ask the questions in order of their priority so you can quickly eliminate applicants without time wasted on small talk and less important matters. By doing interviews back to back, you will be reducing time to hire due to being able to compare answers and remember which ones struck you as memorable or off-putting.
Offer Support at the Recruitment Level
Having a recruiter work on your behalf can be either extremely beneficial or a colossal waste of time — and that often depends on you. Be sure to give a recruiter the tools needed to find your perfect applicants. If you are serious about reducing time to hire, don’t send the recruiter out blindly; explain the type of person you are seeking, details of the position, and the culture in which he or she will be expected to meld into. The more information you provide upfront, the fewer candidates you will have to nix later.
Speaking to a potential candidate can certainly give insight as to his or her knowledge base, but creating a hands-on scenario allows you to verify that the proper skills are in place. Set up a session where the person can work on a project or produce a presentation so you can ensure that he or she can get down to business and isn’t just big talk.
There is no need to do the first round of interviews on a one-on-one basis. Invite small groups of applicants in and create a project on which they can work together. This permits you to witness professional behaviors and how individuals interact with one another, allowing you to also determine who would and would not integrate well with the company culture. When the time comes for individual meetings, set them up on a single day so you can stay focused on the position, reducing time to hire and keeping candidates fresh in your mind when comparing.
Don’t Delay the Final Decision
A long day of interviews can be exhausting and as that last applicant walks out the door you may be quite tempted to follow suit. Unfortunately, the more time you allow to pass post-interview, the muddier your memory becomes regarding how you felt about the candidates, their skills, and their potential to integrate into the company culture. While you do need to give ample time for background checks and reference calls, don’t put off the final decision once you have all the necessary information. Being prompt in your decision-making is imperative in reducing time to hire.
When hiring a new employee, view the process as an important project to be done in a swift and efficient manner. Set aside blocks of time and maintain focus. This will help save money while getting the right talent on the company payroll promptly.