Rushed hiring processes can lead to bad hires, but an overly slow process can be equally as detrimental by causing you to miss out on high-quality candidates who simply won’t wait around. With 42 percent of hiring managers reporting job listings that have remained unfilled after over 12 weeks, according to a CareerBuilder survey, that’s a significant amount of missed opportunities for top talent due to slow hiring processes. Learn more about how a slow hiring process can cost you top talent:
Loss of Passive Candidates
Top talent is generally not on the market very long – if at all. If you want the highest quality candidates, you can’t rely on timing and hope they are job searching at exactly the time you have an available position. Passive candidates are ones who are not actively looking for a new job, but who may be open to hearing about new opportunities that are presented to them. However, if you have a slow hiring process, passive candidates are unlikely to follow through since they have other options and no vested interest in waiting around.
Evaluating on Wrong Criteria
A slow hiring process doesn’t necessarily assess how talented or passionate a candidate is – it often serves as a test to see who is most willing to “jump through hoops.” More often than not, it is the lower quality, desperate candidates who are more likely to see it through because they don’t have other options available. Top talent may often receive multiple offers, so if you take too long to make a decision, they may have already been scooped up – leaving you with a lower quality pool to select from.
Bad for Branding
If your hiring process is excessively slow, it can frustrate candidates and indicate that their time is not respected. Top talent is likely to be connected with other equally ambitious colleagues and acquaintances, so if their application experience with your company was unpleasant, they are likely to spread the word. This could negatively affect your company’s reputation among top talent and make them less likely to want to work for you.
Working with a staffing firm like GuamTemps can facilitate a timely hiring process while still ensuring top talent. Since 1992, GuamTemps has been a leading source of temporary staffing solutions for hundreds of employers on Guam. Our mission is to work closely with our clients to match them with qualified candidates that meet their hiring needs. Contact GuamTemps today to learn more about our temporary staffing solutions.