Time Kills Deals: Reasons Why Running a Timely Search Matters
By Serena Moy
How long does it take to hire a new employee?
In most cases, it depends on the size of your organization and the role you are looking to fill. Generally, executive searches can take 12-16 weeks—but many roles take at least 4 weeks.
As a former candidate and job seeker, you probably remember how frustrating it was to work tirelessly on submitting your best application only to go weeks without hearing back. As a leader, you may justify long hiring timelines because you are trying to do what’s right for your organization and find the best candidate, but did you know that extended hiring processes can hurt your organization far more than they help? Here are four reasons why a slow, inefficient hiring process hurts everyone involved.
It’s Stressful On Candidates
Job candidates fall into one of two categories: those who already have full-time jobs and are looking for a new role and those who are unemployed. If they are unemployed, they are probably experiencing a significant amount of anxiety. While they’re not working, they’re not earning money, and their expenses may pile up while their savings dwindle. On the other hand, someone with a full-time job is spending time on top of that to look and apply for another position. They may even take time off of work to interview. Both of these candidates are likely to feel anxious and frustrated if they are forced to wait weeks at a time for a response from a hiring manager, and it may give them a poor impression of your organization.
It Gives Other Organizations an Advantage
Whether they are already employed or not, it is highly unlikely that a job seeker has applied to your posting alone. Every day you delay is another day someone else has the chance to move them to the next stage of the hiring process or make them an offer. Candidates are unlikely to compromise their financial security to wait on an offer from an organization dragging its feet. Even if you and the candidate both enjoyed meeting each other, an inefficient hiring process could cause you to lose them to another employer.
It Reflects Poorly On Your Organization
In any kind of business, efficiency is everything. A drawn-out hiring process makes your organization look disorganized. It might cause candidates to question the competency of your team and whether they really want to work there.
“….in an effort to minimize mishires, many companies have adopted extensive hiring processes…. a bureaucratic method to hiring that we believe is as damaging a form of inefficiency as mishires themselves.” -Tyler Cowen, Co-Author, Talent: How to Identify Energizers, Creatives, and Winners Around the World
A job posting that has been up for too long can also discourage potential applicants. They may wonder why it is taking so long to fill the position and what that says about the company or team.
It’s Draining for Your Team
If you’re hiring, that means there is a gap in your team that needs to be filled. Until you fill that position, the other team members will inevitably take on additional duties to ensure projects continue to move forward. This can contribute to burnout and potentially cause other members of your team to leave.
“It would stand to reason that companies keep their employees healthy for the long run and spare themselves the expense of rehiring and onboarding.” –Isabelle Roughol, Journalist & Media Executive
Even if it is their full-time job, working for months at a time to fill the same role can become tedious and draining for your hiring manager or search committee. They may eventually pick a candidate who isn’t an ideal fit just to fill the role, which can lead to more problems down the line.
Don’t Waste Money on a Drawn-Out Hiring Process
Working with an external recruiting team can take the pressure off your internal team and let you focus your energy on your daily operations. However, not all recruiting firms are created equal. Some can take just as long as your team—or longer—to fill a role, leaving you with an equally inefficient hiring process and additional costs.
Edgility Can Help
Our experts will help you streamline and expedite your hiring process to find the right candidate. We have years of experience building out pipelines of talent and managing an equitable interview process to help keep your search moving forward efficiently. Contact us today to kickstart a seamless hiring experience for you and your future employees.