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For the purposes of this blog we’re talking about top talent: those highly skilled candidates that are amongst the most sought after people on the market. If you want to attract these people, it’s crucial to have an efficient (not necessarily fast), hiring process.

Here are two big reasons why slow hiring has a negative impact on your ability to attract top talent and also six things you can do to improve this.

The Best Candidates Don’t Stick Around for Long

Other companies want the same talent and skills that you’re looking for at this very moment. If a top candidate does begin to search for jobs it’s likely that they will quickly be presented with multiple offers and if you don’t move fast enough, someone else will. Research suggests the best candidates are only on the open market for ten days before they secure another role. Therefore, having a hiring process that moves at a good speed can give you a competitive edge and will help you to come across as the more attractive choice for candidates.

A Slow Hiring Process Won’t Captivate Anyone

Even if you’re the only company making an offer, a slow process can be off-putting as it implies inefficiencies exist in your business. A recent survey shed some light on the numbers, showing that 60% of candidates have quit an application process because it was too long. Eventually these candidates become fed up and look elsewhere for job opportunities, so it’s important to keep the recruitment process moving for both the candidate and the employer, otherwise it becomes a dreary ordeal. Another benefit of making a prompt decision is that, if you don’t secure your first choice, other contenders on the shortlist are likely to still be available and interested. This can save you from having to re-start the selection process again.

Closing Thoughts

Speed is important to ensure that you don’t lose out on great talent, but this shouldn’t be at the sacrifice of quality. Getting rid of any unnecessary parts of your hiring process means you can stay ahead of your competitors, and have first pick for the best talent. If you need to have three rounds of interviews, this can be fine, but it must be communicated at the initial stages and the interviews should be organised as close to one another as possible. To stand out as a top employer it’s important to stay in touch with your preferred candidates throughout the hiring process, especially if it is going to take some time.

As a Recruiter, we see many talented people turning down great opportunities and companies because of poor communication and a lack of urgency or efficiency. If this is a known issue in your business feel free to get in touch, we’ve helped lots of companies to turn this situation around.