Are you losing the top 10% to your competitors?
Updated: Feb 19
Top talent in Canada and the US gets hired by recruiters within 10 days. If your company is taking longer, you're losing talent to your competitors. Things move fast in the digital age, if you have a drawn-out hiring process you might be giving your competition the edge. According to a report from Human Capital Benchmarking, the average time to hire across industries is 42 days, with some companies taking more than double that. Candidates expect to have an offer within 5 days of their first interview, which leads to many companies losing talent to their faster competition.
Interviewing is one of the most time-consuming activities when it comes to finding new candidates. The average recruiter spends more than two-thirds of their time scheduling and conducting interviews. Close to 45% of recruiters are unable to bring a new candidate onboard within two weeks of sending an offer letter. Scheduling is one part of the process that can really start to drag things out. Getting a hold of all the people that need to be involved, finding a time that works for everyone, and repeatedly rescheduling takes employees away from other important tasks. All of these factors end up costing companies time, money, and talent. More than 74% of recruitment professionals report that last-second changes and rescheduling are the #1 challenge they face when looking for new talent.
So how can you fix the problem?
One easy and inexpensive way is to use automated scheduling software. Most companies offer free trials and premium packages. Some great options are Picktime, Square Appointments, Hubspot, and Calendly. Interview scheduling software can speed up the most time-consuming part of the process from 1 hour to just 1 minute! It allows you to block off specific times for appointments and makes for an improved candidate experience. One study found that 54% of Gen Z candidates wouldn't complete an application if the recruiting method was too difficult, and 26% said that lack of technology throughout the process would completely deter them from accepting an offer.
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