HATCHME / BEST HIRING PRACTICES
The Benefits of a Developing a a�?One-Day Hiringa�? Programme
In an article we published earlier, the writer discuss the detriments of being slow in your hiring. You may think that making quick hiring decisions would lower the quality of your hire, but the reality is that it doesna��t. The very best candidates are in very high demand.
These candidates are decisive individuals, and are likely to accept another offer before most corporate processes are only one third completed. If youa��re skeptical, simply have an intern call your top candidates each day and ask them if theya��re still available. Youa��ll be surprised to learn how quickly they are gone.
One-day hiring is a condensed hiring process all interviewing and reference checking and you make an offer before the candidate leaves the building. The effectiveness of one-day hiring has been demonstrated many times and is routinely used when hiring interns.
While one-day hiring is not a panacea to all your hiring problems, you need to have this option available when either a top candidate applies or for jobs where your data shows that available candidates are quickly out of the market.
The Many Benefits of One-day Hiring
- Quality hiresA�a�� You wona��t lose top candidates. It will produce new hires with the same or better on-the-job performance and retention. There is just no data that shows that a longer time to fill has a positive impact on hire quality.
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- Quicker time to productivityA�and reduced costs a�� Because open positions will be vacant for fewer days, your new hires can be on the job much faster. Less a�?position vacancy daysa�? obviously pleases hiring managers, recruiters, and even teammates. Furthermore, the cost of a vacant position can be very high.
- Encourages candidates to accept quickerA�a�� Holding same-day interviews and making same day offers gets your candidatea��s attention as it shows you are decisive, a feature top performers demand. Getting a call immediately after applying and being invited almost immediately is so out of the norm that it impresses candidates and it makes them feel important. Prolonging the hiring process irritates candidates and it can make them think that you dona��t respect them.
- You get decisive hiresA�a�� Because same-day hiring rewards candidates who know precisely what they want in a job and a firm, you are likely to get hires who are a great fit. In addition, because one-day hiring requires candidates to make a quick decision, your new hires are likely to be decisive on the job also.
- It reduces opportunities for candidates to change their mindA�a�� In-demand candidates who are working are highly likely to get a counteroffer from their current boss. Getting them to say yes before they leave dramatically reduces the chance of them even listening to a counteroffer from the current boss.
- A low candidate dropout rateA�a�� For qualified jobs, if you call top candidates immediately and schedule your one-day interviews within a week, you can reduce your candidate dropout rate to essentially zero. This is critical because there is nothing worse in recruiting than having a top candidate apply and show interest, only to lose them because your hiring process takes too long.
In todaya��s war for talent, it is essential that small and medium-sized enterprises (SMEs) gain a competitive edge in areas where they can compete effectively with large multinational corporations (MNCs). It is essential that SMEs are able to hire the right talent quickly before they are snatched up by the larger businesses.