The national average time to fill open positions is now about 25 days, the highest on record. One reason is that employers are using more screening methods and pre-hire tests. In addition, as skill requirements for jobs increase, interview processes lengthen.
For executive positions, the hiring period can be 50-60 days or more. And yet, the best candidates can be scooped up in a matter of two weeks or less. So, even if your time to hire at the executive level is average, you could be several weeks late to the dance where the top candidates are selected.
At TriStarr, a recruiting agency (or “headhunters”) in Lancaster, PA, we want to share a few reasons why a drawn-out hiring process can interfere with your recruitment goals:
- You’ll still be running the race for the most sought-after candidates—but the race will be over. Employed top performers who re-enter the job market can receive multiple recruitment offers. They might be in the job market for just a few days. So, while you’re in the midst of your hiring process, the most in-demand prospects are accepting quicker offers from your competitors. This forces you to further prolong the hiring process.
- You won’t guarantee yourself a higher quality of hires. You might think with more time to gather information on candidates and finalists, you’ll land better employees. But, not really—actually, the longer the hiring process, the lower the quality of your employees. That’s because, with an extended hiring process, the strongest candidates drop out, leaving weaker ones remaining in your candidate pool.
- You might have to pay a higher salary. When employed top performers re-enter the job market after being with one company for several years, they may not be aware of their true value. So if you contact and hire them first, before your competition can make a bid, they will more likely accept your initial salary offer with minimal negotiating. With a drawn-out hiring process, however, other firms will begin recruiting them as well. A bidding war may ensue, with the candidate’s salary demands increasing.
- You’ll lose top candidates to your competitors. Your firm might have a great reputation in your industry, but if you can’t make quick hiring decisions on in-demand candidates, they’ll go with competing firms that are quicker to meet their needs. The cost of losing those battles can be extremely high because competitors’ productivity rates will rise quickly, while your firm’s productivity, with the position still open, will be lower.
I’m confident we can help you save time in finding, interviewing and assessing the right candidates for a high-level position with your company. Contact us here at TriStarr, a recruitment agency in Lancaster, PA, as well as an administrative employment agency and HR consulting service.
With more than 60 combined years of experience as a recruiter and temporary staffing agency, we find the candidates who are a great fit almost every time. And, though it’s rarely necessary, we back our recruiting with our Good People Guarantee.