As the analysts among us know, open requisition to offer refers specifically to the time between the initial posting of a job description to hiring channels and the official job offer to a qualified candidate. Open
Open Req to Offer Has Been Getting Longer For Years
According to research, between 2010 and 2015 the open
In some cases, an increased open
In relatively calm conditions like these, a steadily growing open
2017 is Expected to Be Even Worse
Dropping unemployment rates in high-activity areas and the general momentum of the trend is expected to continue in 2017: Don't expect open
The Tools Aren't the Problem...Volume is
The confusing factor in this growing open
- Low search radius: Companies aren't looking far enough to more mobile works.
- Obsession with assessments: Companies, especially larger businesses, have added multiple tests and assessments to the hiring process, stringing it out further.
- Hiring by committee: Hiring decisions have been moved away from single HR management calls and into lengthy, often fruitless internal debates.
- Too many choices: All those hyper-efficient tools have paralyzed some HR teams, who spend too much time examining all available choices and too little time making a selection.
- Reach exceeding grasp: Today's online tools have made some companies too eager to find "top talent" and as a result they let many qualified applicants slip through their fingers as they search for a perfect, often unattainable, fit.
- Compensation woes: Companies slow to catch up are offering compensation packages and benefits that simply don't interest today's workers, leading to lengthy hiring times as most candidates head for greener pastures.
Hiring Processes Must Be Reworked
These issues leave us with a clear indication: It's time to rework the hiring process and cut down on time spent finding the right talent. Companies that continue to see growing open
- Work with an outside agency to overcome inner barriers: Is there a particular process giving your team trouble due to internal challenges? Cut down on your time by
handingpart of the process over to experienced external staffing agencies. This is why ICS specializes in vetting candidates and guaranteeing the right skills – sometimes internal processes can grow too stagnant, and an outside firm can provide the best solution.
- Solidify job descriptions: Job descriptions should not change once the hiring process has begun.
- Set a deadline: Set a firm deadline based on best practices in your industry. As the deadline approaches, consider lowering expectations and skill requirements. If the deadline has passed and no candidate is available, switch to an internal training strategy.
- Limit applicant pools: If numbers are a problem, set a limit on how many applicants will be received before moving to the next step. Create similar limits as candidates pass through the hiring process to move things along more quickly.
- Match compensation for your location: Take a look at what your competitors are offering in their packages. Remember that direct compensation is more valuable to today's employees (compared to additional benefits), and adjust the offering as necessary.