Companies spend considerable time and money on recruiting and often don’t get the results they want. Bottlenecks and an inefficient hiring process are significant factors in losing top candidates.
According to a recent survey, nearly 60% of job seekers have abandoned an application process because it took too long. Companies miss out on exceptional candidates and risk damaging their reputation and employer brand.
8 Key Recruiting Statistics To Improve Your Hiring Process
- 66% of candidates want to hear more from employees about the company. Encourage employees to share their experiences on social media.
- Candidates are twice as likely to open cold emails if they have interacted with your brand. Build your employer brand through social media and word of mouth. Be human and personalize cold emails.
- The average time to hire fluctuates based on industry and role. The average time to make a new hire is 27 business days, but top candidates are off the market within 10 days. A Glassdoor survey reports that it typically takes 10 to 53 days. According to LinkedIn, the time to hire is one month, and SHRM found that 36 days is the average time to hire. Optimize your recruiting process to move quickly on top talent.
- The average cost per hire has risen to $4,000. To make smart hires consider cultural fit, not just experience. Unfilled positions are very costly.
- 64% of applicants would share negative experiences, and 27% would discourage others from applying. Provide a positive candidate experience and communicate decisions respectfully.
- 60% of candidates quit lengthy applications. Don’t make your process too long or complicated. Over 75% of professionals are passive candidates, so build relationships even when not actively hiring.
- Recruiting is becoming more like marketing. Treat candidates like leads and share relevant content. Create a marketing plan to attract talent.
- Investing in employer brand can reduce turnover by 28%. Focus on providing an excellent end-to-end employee experience from hiring to onboarding.
How else can companies streamline their hiring process and secure the best candidates?
One solution is to partner with a recruiting firm like INNOVA People. By leveraging their expertise and resources, companies can optimize their hiring process and avoid losing top talent.
Here are some ways INNOVA People can help:
- Targeted sourcing: INNOVA People has an extensive network of qualified candidates and can quickly identify the best fit for your organization.
- Streamlined screening: By conducting initial screenings and interviews, INNOVA People can save your team valuable time and ensure that only the most qualified candidates move forward.
- Efficient communication: INNOVA People is a single point of contact, keeping candidates informed and engaged throughout the hiring process.
- Market insights: With their deep understanding of the job market and industry trends, INNOVA People can provide valuable guidance on competitive salaries, benefits, and hiring strategies.
By partnering with a recruiting firm like INNOVA People and implementing these streamlining strategies, companies can significantly improve their hiring process and secure the best talent in the market. Don’t let a lengthy hiring process cost you your top candidates – take action today to optimize your approach and build the strong team your organization needs to succeed.
