According to experts on Linkedin, the average time it takes companies to hire, after finding the right candidate, is steadily increasing to the level of forty days to make the right offer to an appealing candidate.
Many companies point to the fact that skill shortages are behind the problem, but a large part also falls on those companies taking too long to reach their decision. Whilst being cautious in your hiring process is a must in today’s economy, being slow in the overall hiring process stands to have far costlier repercussions as competition for talent in the financial space grows.
Let’s discuss why hiring faster through a recruitment company Manchester is the best path forward.
Speed is of the Essence
As everyone knows, the best candidates in finance are in extremely high demand. That has opened up every ideal candidate to multiple offers as every company looks to land the crucial employee in their financial team.
As companies stall in their decision-making, the chances of losing interest from the candidate ride higher. A corporate recruitment company cannot realistically keep a candidate on hold for a company to act. That does not mean that the entire recruitment process should be sped through and you abandon your standards – it just means there is room for adjustment so that intelligent decision-making can be reached much quicker.
Increasing the pace of the hiring strategy will keep you in the competition for landing that perfect candidate in a period when the employee does not have the time to wait for an offer. Remember, they don’t have to.
Always keep in mind that whilst you are consulting with business leaders to make an offer, the candidate is already sourcing alternatives and in talks with other employers.
Better Employee Experience
Being slow in the hiring process does not just affect future hires, but also existing team members on your finance team. Many existing employees will have the added workload that an unfilled position should be doing, filling the gap whilst the company makes up their mind.
That is taking a lot of time away from their employed roles to pick up the slack caused by indecision on the hiring team and management, which ultimately leads to dissatisfaction with the job. Eventually, that could lead to the loss of existing employees and even more strain on the hiring team, or severe burnout or stress levels causing focus to reduce.
When staff members get overwhelmed, mistakes get made through the need to rush through tasks. If one area of your business looks for faster decision-making, it will be with your existing finance team.
Recruiting faster is not about lowering a standard. It is more about optimising your process. Working with a qualified recruitment company Altrincham help you with finding the right candidate faster and secure the interest of all parties to land that ideal talent. Contact the team at Imperium today to help increase the speed of your hiring process.