5 ways to reduce the time to hire so you can focus on your business.
(and save money!)
Hiring new staff can positively impact your company
However, have you ever considered what the cost is to recruit a new staff member?   According to Employment Hero Australia, you may be surprised to learn that the average cost of a new hire can be anywhere from $3500 and $5000 or more for more senior managerial level, taking into account the salaries of the people recruiting and the costs of advertising for the role.  That’s not to mention the time it will take you and/or your staff to facilitate the new hire, such as writing, creating and promoting a job.
So, what is the time to hire?
Time to hire is the number of days between the moment a candidate is approached or applies for a position, and when they finally accept a job.  Leave it too long, and you risk losing the best candidates to another employer.
So how can you reduce the time and cost to hire?

Here are some simple insiders’ tips

1. Have a clear recruitment process
Having a hiring process in place will help streamline the recruitment.

Map out and schedule the recruitment process for all parties involved to make sure you keep the recruitment process flowing and on time.

Have a Clear Job Description? 

It’s important to clearly explain the responsibilities and expectations, so you reach the right audience and get suitable candidates. Otherwise, you could be wasting valuable time.
2. Optimise your company career portal
Create a company career site on your website.  This is an important tool for job seekers to use while learning more about open job opportunities and what it’s really like to work for your company.
Make sure your career site is informative and establishes your company brand. An accessible portal can motivate job seekers to apply for positions directly on your website, reducing the need to rely on job boards and other external sites to acquire top candidates.  You can create a pool of candidates for various roles and tap into people who really want to work for your company.

3. Use Social Media as a Recruitment Strategy
Social Media can be a good strategy for finding candidates, depending on the role.  You also have the advantage of reaching passive job seekers— candidates who are ready to make a move but not actively seeking new opportunities yet.
LinkedIn is another great way to advertise your positions vacant and source quality candidates because followers of your brand’s profiles are likely to already have an interest in your industry and a firm grasp on your company culture.

4. Leverage referrals from your current employees
It makes good recruiting sense to check with your current employees to see if they know someone who would be right for an open position. This is the easiest way to minimize time-to-hire because it skips straight to the interview stage. Encourage employees to share your job postings or offer incentives for bringing in quality candidates.

5. Use digital options available to you to reduce time and costs
One positive outcome from Covid-19 is the increase in the use of video platforms for meetings, conferences and as is the case in recruitment, undertaking interviews.
Digital interviewing allows recruiters to screen candidates anywhere, at any time. This can help reduce expenses like travel while also reducing time-to-hire rates.  There are many options available to you however if you only recruit occasionally, ZOOM is a cost effect platform to schedule and undertake Candidate interviews. 

Paul Callinan
Paul has been recruiting for over 20 years in the Hunter Valley.

In any given day, Paul can be heard recruiting for any kind of role from a CEO position to a Boilermaker.A straight-shooter, Paul will give you the right advice. 
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Outsource what you can.
Lastly, if you are a small to medium business without a HR Department, you might consider outsourcing the recruitment process to a Recruitment Organisation.  As a recruiter, we have systems in place, and a ready-to-work candidate pool that will more likely benefit your business.

 If you or your company are searching for new staff, get in touch with one of our recruitment specialists to find out how we can benefit you. 
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