Time to hire is an important element in talent acquisition as top candidates on average only stay on the market for 10 days, plus the longer the process the higher the cost per hire, says Nicolas Speeckaert from skeeled, a provider of AI predictive talent acquisition software.
Speeckaert says, “Time to hire measures how quickly a business can select and recruit the best candidate for a role. Tracking and reducing time to hire though is not just about speeding things up, it’s about developing the most efficient process to hire the right candidate faster, but without skipping an important part of the process.
“As we move into the post pandemic world competition for talent is expected to be fierce, particularly for certain roles such as technology, e-commerce and healthcare. Whilst some roles take longer to fill than others, it’s important for businesses to track their time to hire so they can improve their talent acquisition process.
“Tracking time to hire is an important way of making sure employers dedicate the right amount of time and resources to the various roles their hiring for, while also making sure the overall recruitment process is working efficiently.”
Speeckaert suggests the following five steps employers can take to reduce time to hire:
Automate CV screening and candidate matching
One of the most time-consuming parts of recruitment is CV screening. Some vacancies can receive hundreds of CVs especially since the Covid-19 pandemic when lots of redundancies have meant more people chasing the same roles. Analysing large-volumes of applications manually is hard and very often inefficient.
One solution is to use AI-powered talent acquisition software which speeds up the process as the system automatically parses and screens the CVS. In addition, software that is equipped with matching and ranking algorithms saves even more time as it weeds out unsuitable candidate’s right at the start of the recruitment process and focuses on the candidates that do match the job requirements.
Use your recruitment data
The right talent acquisition software can also automatically track and measure the time to hire. This saves time and allows companies to get the insights that matter to answer critical recruiting questions. By finding out how long it takes to hire a candidate, companies can identify areas of improvement and take action.
Use pre-employment assessments
Pre-hire assessments such as cognitive ability, personality and motivation tests are a key part of an effective selection process. They allow employers to predict a candidates’ ability to succeed in a role, enabling more informed hiring decisions and speed up the process, while ensuring the quality of candidates.
Automate candidate communication
Candidate communication is often one of the most frustrating aspects of the recruitment process, not only impacting the time it takes to hire someone but also affecting the overall candidate experience negatively. Using an automated email system is a great way of ensuring effective communication with candidates with little effort. Talent acquisition software allows employers to create and share within the team a set of email templates that can be personalised and to candidates in a timely way.
Automate interview scheduling
Interview scheduling can be a hassle for employers and candidates. Finding a suitable time for everyone often leads to days of emails exchange delaying the entire recruitment process. Interview scheduling can be simplified and taken from days to hours using talent acquisition software with the right calendar integration and a self-scheduling tool. Employers can send automated interview invitations to multiple candidates at once and let them choose an available time slot from the calendar.
For more information on skeeled visit: www.skeeled.com
