How to Speed Up the Hiring Process and Reduce Costs

May 24, 2022

9 min read

In an ever-changing and competitive business landscape, the ability to adapt and innovate quickly has become essential for survival. The same can be said of the process of recruiting new employees. To maintain a competitive edge, businesses need to find ways to speed up the recruiting process while also reducing costs.

Is slow hiring that bad for your company?

Before we get into specific tips for speeding up hiring, let’s make sure you understand the implications of recruitment delay for your company.

  • Wasted resources

The longer it takes to hire, the more time and money you waste.

  • Missed opportunities

When you take too long to hire, you miss out on top talent scooped up by your competitors.

  • Unnecessary stress

A lengthy hiring process can be stressful for everyone involved.

  • Lower quality candidates

High-quality candidates don’t stay for too long in job-searching. The more skills and experience specialists have, the more speedily they find a new job.

  • Poor company image

A slow hiring process can give the impression that your company is disorganized and not very efficient. This can be a turn-off for top talent.

How to achieve quick hiring

To win the race for the best and brightest, companies need to move fast and efficiently in their recruiting efforts. Here are ten easy steps that big and small businesses can take to save resources through accelerated recruiting.

1. Hire a recruitment agency

Working with a recruitment agency can help speed up the hiring process for several reasons:

  • They have a database of specialists.

Access to a closed extensive database allows them to search through to find the best match for your open position.

  • They know where to look.

Recruitment agencies know where to find the best candidates, whether it’s through online job boards, professional networking sites, or offline sources.

  • They can pre-screen candidates.

Recruitment agencies can help you save time by pre-screening candidates to ensure they meet your minimum requirements before you even see their resume.

  • They can conduct initial interviews.

Another way recruitment agencies can help speed up the hiring process is by conducting initial interviews with candidates on your behalf. This allows you to only meet with candidates who are already interested in the job and are a good fit for your company. Working with a good recruitment agency is a great option: we will quickly identify suitable candidates for you worldwide and even take care of an assessment.

2. Create a buyer persona for new employees

A buyer persona, in this case, is a detailed description of your ideal candidate. It can be used as a guide when advertising the vacancy, conducting interviews, and making the final decision.

When creating a buyer persona, there are a few key factors to consider:

  • the skills and experience that your ideal candidate would have;
  • their personality traits and what kind of cultural fit they would be;
  • motivation and what kind of working environment they would thrive in.

3. Automate the recruiting process

Advanced recruiters necessarily use software solutions that can automate various stages of the recruiting process, from advertising vacancies to conducting initial interviews. Applicant tracking systems (ATS) and chatbots are the most famous examples of such tools. This technology saves time and resources by automating repetitive tasks and providing a more efficient way to screen candidates. 

What are applicant tracking systems (ATS), and why use them?

An ATS is a software that can store and track job applications. It also helps to conduct the initial screening of candidates by matching their skills and experience to the role requirements. This saves time because you only need to interview those candidates who are the best for the role.

Top ATS software in 2022:

A cloud-based talent management software system helps organizations identify and assess talent, onboard new hires, develop employees and measure performance.

An application for managing the entire employee lifecycle, from sourcing and recruiting to onboarding and performance. Provides tools for tracking and managing compliance with employment regulations.

A talent acquisition software that helps track and measure recruitment processes. It makes communication within the talent team easier and allows them to stay in touch with candidates across multiple channels.

How chatbots are helpful

Chatbots can also be used in the recruiting process to communicate with candidates and answer any initial questions they may have. You don’t need to field calls or emails from candidates and instead can focus on those who are further along in the process.

2020 Phenom’s report demonstrates that chatbots more efficiently convert job seekers into leads. In one case, the conversion rate of a healthcare company grew to 1142% in just 30 days. On career sites, this figure increased by 95%.

The best chatbots for recruiting in 2022 are Olivia, Humanly, Eightfold, XOR, Ideal, Symphony Talent, and Espressive.

4. Choose the right platform for your job ad

There are several different job boards and websites that you can use to advertise your vacancy. But they are not equally suitable for your needs. For example, if you’re looking for candidates with specific skills or experience, you may want to use a niche job board that focuses on those areas. Alternatively, if you’re looking for many candidates, you may want to use a general job board or website (Indeed, Glassdoor, ZipRecruiter). By choosing the right platform for your job ad, you can save time in the long run and make it easier to find suitable candidates for your vacancy.

5. Don’t forget about social media

LinkedIn is a great way to reach out to potential candidates and connect with those already in your network. 87% of recruiters find this platform the most effective manner for discovering and vetting candidates.

Facebook, Instagram, and other less professional-oriented social media platforms could be as effective as LinkedIn. Your customers who are following your brand there may turn into your employees one day. Especially if communicating about the corporate culture, values, and benefits of working for your company is part of your brand awareness strategy.

Using social media in recruitment will save time and allow you to reach a wider pool of candidates.

6. Get clear and creative in your job ad

If your ad is vague or full of complex jargon, potential candidates will likely move on to something else. To avoid this, take the time to write a concise and clear job ad that accurately reflects the role you’re trying to fill. It would help if you also used creative language and imagery to make your ad stand out from the rest. By taking the time to create an effective job ad, you can save time in the long run by attracting better-quality candidates.  

7. Headhunt other companies’ employees

Headhunting other companies’ employees can be a quick and effective way to find candidates who are already experienced in the industry and might be a good fit for your company. To do this, you can use online tools such as LinkedIn or contact other companies directly to see if they have any employees who might be interested in switching to your company. It’s often worth the effort as it can help you find the best candidates for your vacancy. 

8. Use an employee referral program

An employee referral program is where your current employees refer candidates for vacant positions within your company. Your employees have a big circle of acquaintances in the professional area. There is a big possibility that they know people who would be a good fit for the role. According to CareerBuilder, 82% of employers called the referral program the best way to get a return on investment (ROI). 88% reported it brought them their most skilled workers.

To encourage your employees to refer candidates, you can offer incentives such as bonus payments or time off.

9. Consider your employees

Don’t forget to consider your employees when you want to fill a vacancy. They may have been waiting for a promotion or be interested in changing specialties. It is better to allow them to do so within your company than to spend more time replacing them too. Inform your staff about new vacancies. This can save not only time and effort in the hiring process but valuable team members as well.

10. Prepare for interviews 

Once you’ve found suitable candidates, the next step is to prepare for interviews. This includes creating a list of questions you want to ask and preparing for any assessment tasks you may need to carry out. When starting your list of questions, include both general and specific questions. The general questions will give you an overview of the candidate’s skills and experience, while the specific questions will help you drill down into their knowledge and professional abilities.

In conclusion

There are many different ways to find candidates for a vacancy, and choosing the right one will depend on the role you’re trying to fill. However, using a combination of different techniques can save time in the long run and make it easier to find the best staff for your company. 

If you’re looking for help filling the following vacancy, get in touch with our team of experts today. Being selected among the Top IT Services Staffing Firms by Designrush for our excellence, we will find the best candidates for your company quickly and efficiently. In just 3 business days you will get your first candidates for assessment. You won’t have to wait long to fill a vacancy at this rate. And that is the goal, right?

Read also: Tech Recruitment 101: How to Find and Keep A-list Candidates?, How to Hire the Right Tech Talent: Tips Using Digital Technology , and Cut Your Cost per Hire With a Referral Program

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