This white paper provides crucial ideas on how companies can fill their vacancies with greater speed and accuracy. Read now, and make your hiring faster with these strategic insights and breakthrough technologies.
Velocity in talent hiring simply refers to how quickly the vacancies are filled and the time taken for hiring, from posting a job up to acceptance of an offer from the candidate. Velocity of hiring is a powerful concept in the fast-paced world today. The faster we can hire, the sooner we can deliver to our customers. Organisations that are growing very rapidly and expanding their share of the market need to hire fast so that they have enough employees to handle the speed of growth. A growing company needs more people in all departments and must onboard people as quickly as possible.
The desired speed of hiring can be achieved only if the company is able to attract a suitable number of relevant candidates to apply, get them scheduled for interviews and other selection processes, get their background checks done in time, and make an offer to them. Of these, the background check component has become a key bottleneck as candidates are being hired even without a face-to-face interview and therefore the risks of a wrong hire run higher.
The adoption of HRTech is giving a major edge to companies in their pursuit of speedier hiring. The increased speed of hiring assumes much greater importance, as a slower recruitment process delays delivery of business results, makes the candidate experience less pleasant, presents competitors with an edge in hiring them instead, and overloads the existing staff with additional pressured tasks. In the technology era, lower speed in any department, including hiring, puts a business at a substantial disadvantage with respect to more nimble rivals.
As per a survey released by Robert Half, 57% of job seekers lose interest if the hiring process is taking too long. Thus, the velocity of talent hiring is something that all stakeholders in the process desire — employers, candidates, existing employees, and HR / Talent managers and professionals.
In this report, we discuss:
- Spotlight: Velocity of hiring and Veremark
- How does velocity impact business results?
- How can the speed of hiring be increased?
- Spotlight: Speeding up background screening
- Spotlight: How velocity impacts different industries
- Technological innovations to speed up hiring
- Key takeaways from the McKinsey report and how hiring velocity is the solution
- Seizing the opportunity by increasing the velocity of hiring
- The velocity of hiring: Outsourcing tasks vs in-house capabilities