Increasing the Velocity of HR & Talent Hiring

July 22, 2022

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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

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FAQs

What background check do I need?

This depends on the industry and type of role you are recruiting for. To determine whether you need reference checks, identity checks, bankruptcy checks, civil background checks, credit checks for employment or any of the other background checks we offer, chat to our team of dedicated account managers.

Why should employers check the background of potential employees?

Many industries have compliance-related employment check requirements. And even if your industry doesn’t, remember that your staff have access to assets and data that must be protected. When you employ a new staff member you need to be certain that they have the best interests of your business at heart. Carrying out comprehensive background checking helps mitigate risk and ensures a safer hiring decision.

How long do background checks take?

Again, this depends on the type of checks you need. Simple identity checks can be carried out in as little as a few hours but a worldwide criminal background check for instance might take several weeks. A simple pre-employment check package takes around a week. Our account managers are specialists and can provide detailed information into which checks you need and how long they will take.

Can you do a background check online?

All Veremark checks are carried out online and digitally. This eliminates the need to collect, store and manage paper documents and information making the process faster, more efficient and ensures complete safety of candidate data and documents.

What are the benefits of a background check?

In a competitive marketplace, making the right hiring decisions is key to the success of your company. Employment background checks enables you to understand more about your candidates before making crucial decisions which can have either beneficial or catastrophic effects on your business.

What does a background check show?

Background checks not only provide useful insights into a candidate’s work history, skills and education, but they can also offer richer detail into someone’s personality and character traits. This gives you a huge advantage when considering who to hire. Background checking also ensures that candidates are legally allowed to carry out certain roles, failed criminal and credit checks could prevent them from working with vulnerable people or in a financial function.