EPISODE 1: 5-STEPS TO SHORTEN YOUR RECRUITING CYCLE
Re-writing the hiring playbook 2022/23
WRITTEN BY: Elise Li
ABOUT THE AUTHOR
Elise Li is head of recruitment at Global Hires and has been in the staffing industry for over 15 years. From startups to fast-growing mid- sized companies, Elise has helped organizations in multiple industries build high performing teams and departments. Elise is bold, decisive and describes herself as a “unicorn recruiter,” focusing on connecting phenomenal talent with hiring executives and their organizations and staying engaged afterwards to ensure a strong long- term fit.
Successful entrepreneurs and business leaders know that great analysts, strategists, and operations talent provide the key insights and execution decisions that ensure long-term success. But today’s labor market is highly competitive, and building a top-tier team is increasingly difficult. The recruiting team at Global Hires has been finding the best talent in the US and globally for over a decade, so we compiled our top tips to help you "crack the code" to great recruiting. In this first EPISODE, we show you five key steps to shortening the recruiting cycle.
"On average, businesses take 7 weeks to fill an open position and the best candidates are off the market in 1.5 weeks" (Thakkar 2022)
STEP 1: TECHNOLOGY IMPLEMENTATION (Save one week)
"Over 65% of small and medium-sized businesses (SMBs) aren’t effectively using recruiting tech" (Henderson 2022)
Quickly implement simple but effective SaaS-based recruiting software. 1. Tracking dozens of applicants is confusing and time-consuming. A great Applicant Tracking System (ATS) utilizes reports and dashboards to reduce recruiting time while improving candidate quality. Global Hires uses Greenhouse, which integrates seamlessly with LinkedIn. Forbes ranks it as #1 for mid-size businesses but it’s also great for small companies. 2. Effectively screening and communicating (internally and with applicants) is critical. We recommend using automated hiring assessments and video interview platforms like HireVue. Additional communication tool providers include LinkedIn Recruiter, TextRecruit, and Workable. Check out Forbes’ top 10 Applicant Tracking Systems of 2022.
STEP 2: STREAMLINING (Save half a week)
Improving your recruiting process leads to better outcomes and allows management to focus on the final selected talent. Be sure to get written signoff from hiring managers or other stakeholders on talent expectations before starting the search. These include (1) experience; (2) technical requirements; (3) cultural fit; and (4) salary range. Then agree on feedback turn-around times and decision-making.
On average, hiring one candidate takes away 2.5 weeks of management time (Thakkar 2021)
STEP 3: REGULAR CANDIDATE CHECK-INS (Save one week)
Nearly 60% of applicants drop off due to the hiring process's length and lack of effective communication (Thakkar 2022)
Frequent, compelling, and thoughtful communication is vital in keeping and closing the best applicants (The Access Group 2021). For promising candidates, communication should come from the recruiter, the hiring manager, other senior executives and, as needed, the CEO!
The best candidates are off the market in 10 days (Thakkar 2022)
STEP 4: DEVELOP A COMPREHENSIVE HIRING STRATEGY (Save one third of a week)
83%of companies need talent more quickly than anticipated to accomplish their goals (Global Hires 2022)
Create and execute a plan to effectively meet short-term, long-term, and unexpected or urgent hiring needs. Build a pool of outstanding, pre- screened analytics, strategy, and operations candidates who can fill new roles across your organization on short notice. Develop a timeline for implementing SaaS-based technology as discussed In step 1 – the cost-to-value ratio is compelling!
STEP 5: UTILIZING A RECRUITMENT AGENCY (Save four weeks)
A recruiting agency specializing in hiring analysts, strategists, and operational talent can reduce the time needed to fill your open positions to just 3 weeks (Thakkar 2022).
The most time-efficient solution remains using a proven recruiting company. The best firms have a deep pool of warm candidates, utilize best-of-breed technology, and are exceptional in engaging top-tier talent. They also stay involved to ensure the new hire gets off to a great start.
REACH OUT FOR MORE INFORMATION
wwww.globalhires.com +1 (212) 878-7625
The Access Group. (2021). World of candidate screening and compliance. Retrieved from https://www.theaccessgroup.com/en- gb/recruitment/resources/candidate-attraction/world-of-candidate-screening- and-compliance/
Global Hires. (2022). Companies: Fast, Focused, Proven. Retrieved from https://www.globalhires.com/company
Henderson, R. (2022, November 18). What is an ATS? 8 things you need to know about applicant tracking systems. Jobscan.
Retrieved from https://www.jobscan.co/blog/8-things-you-need-to-know- about-applicant-tracking- systems/#:~:text=Let's%20quickly%20sum%20up%20what,small%20organizatio ns %20rely%20on%20them
Thakkar, R. (2022, July 16). Top 100 hiring statistics for 2022. LinkedIn.
Retrieved from https://www.linkedin.com/pulse/top-100-hiring-statistics-2022- rinku-thakkar/