A delayed recruitment process is one of the biggest challenges for SMEs. As companies compete in an increasingly limited talent pool, it is quite challenging to hire the top talent within the timeframe, geography, and budget. Considerably, a lengthy hiring process and delays in decision making are the major factors that result in delayed hiring.
What does it mean?
In SMEs, the recruitment and HR managers alone can not decide to hire a candidate. They will take more time for background verification, initial screening, and conducting a face-to-face interview. This further delays the hiring process, and even sometimes, the candidate could reject your offer.
As talent acquisition has a direct impact on productivity and deliverables, it is essential to optimize the hiring process to on board the skilled resources quickly.
Things come to those who wait, but only what’s left from those who hustle!
– said Abe Lincoln, Acts of the Apostles.
Optimized recruitment process: The sooner, the better
If your recruitment lifecycle is not optimized and takes longer than usual — you can’t nurture applicants, fail to deliver nimble candidate experience, and miss out on top talent.
On the other hand, the delayed recruitment process damages your reputation and affects your team morale and deliverables.
As the hiring across industries froze amid pandemic, companies must revamp their hiring strategies to onboard the best talent. So an optimized recruitment process and access to a large talent pool is the need of the hour.
According to a few studies, top talent will be available for only ten days in the job market. This further raised new challenges for recruitment managers to reach and nurture potential skilled candidates and hire them before someone else takes over.
As stated above, the sooner, the better doesn’t mean you have to rush to hire a candidate immediately after his initial screening. Instead, cut down a few unnecessary steps that can cause delays in hiring.
Let’s discuss the impact of the delayed recruitment process and how an IT staffing company can help you overcome the challenges.
What are the factors affecting time-to-hire?
SMEs usually operate with a limited number of employees in-house. When they post a job vacancy, hundreds of applicants send their CVs. As they wear multiple hats and responsibilities to accomplish, it is impossible to verify and validate all the applications in less time. It further affects the hiring process and time-to-hire.
On an average, a corporate job post receives 250 resumes [source].
2. Level of skills and seniority:
Roles that require higher levels of technical skills tend to take more time than entry and mid-level positions. Unclear role definition, skills gaps, and targeting wrong candidates can even exacerbate the hiring process. Hiring for senior-level positions involves many layers of competency check and background verification — further delays the recruitment process.
3. Limited resources:
Limited access to the talent pool, time, and budget are the most common challenges that many recruiting and HR managers and HRs face. On the other hand, due to a legacy recruitment process, companies might lose an opportunity to hire a skilled candidate. This further affects the hiring paradigm and stretch time to hire resources.
Impact of the delayed recruitment process on business growth:
Unlike established enterprises, SMEs spend more time on candidate screening. With the tedious and old-school hiring strategies, the time-to-hire tends to stretch from weeks to even a few months.
If your average time to hire a resource takes more than three weeks, you would probably need an optimized hiring strategy to attract the right talent.
Delays in tech talent hiring will impact your business in multiple ways including, cost, culture, opportunities, and growth.
Let’s have a look at how the delayed hiring process hurts business operations.
1. Loss of top talent:
When highly skilled candidates enter the job market, they are likely to be inundated with numerous opportunities. And, the top performer prefers a company that can hire him within ten days or two weeks.
As a result, companies with the long-hiring process would lose the cherry on top. And, of course, it ends up with underperforming or above-average candidates in their team.
Many hiring managers and employers think that a slow hiring process would result in better hires, verification, and feedback. Unfortunately, the delayed recruitment process has the opposite effect. The longer you take, the lower the quality will be.
2. Decreased productivity and revenue:
In some companies, everything is interrelated and needs to work collaboratively to drive results. Let us assume you have a project in hand and are struggling to fill a key position for months.
What are the possible scenarios you might face over time? Either you lose the project, or your existing team has to wear different hats.
Neither of the cases is good for a growing company in the initial stages.
As the project development time is directly related to the available tech resources, one must speed up their process to fill the talent gaps. The more time you take to fill a position, the more it can hurt your productivity and revenue.
3. Damages company reputation:
Everything is online now. Especially applicants check for Glassdoor and Google reviews before applying for a job and attending an interview. As said above, the longer your hiring process, the more chances you would lose top-performing candidates.
Any negative feedback or experience from a candidate can considerably ruin your company’s reputation. Above all, word of mouth has a significant impact on your employer brand.
If someone starts talking negatively about your company, remember, you don’t get the right response from qualified candidates.
4. Rising costs in terms of time and money:
This is another serious problem many SMEs face due to hiring delays. When a position is unfilled for a long time, you continuously invest in the advertisement, conducting interviews, and spend more time on application verification.
If your recruitment process requires an excessive number of interviews, the cost of hiring will increase exponentially high. As long as your position is open, you need to invest an extraneous amount of time and cost on finding and nurturing candidates.
For example, who makes $60,000 a year cost their organization an average of $20,400 a year.
How does a tech IT staffing company solve delayed hiring challenges?
- Are you struggling with a slow hiring process to attract the top talent in the market?
- Are you facing challenges with an applicant’s turn around time?
- Does the long hiring process jeopardize your growth opportunities?
If your answers are Yes, you’re not alone facing the above challenges. Many SMEs have been facing challenges due to a lack of experience, expertise, and optimized process. Therefore, collaborating with an experienced IT staffing company can help you reach out to skilled candidates and hire them quickly before someone else does.
Unlike the traditional hiring process, IT staffing companies don’t start from the scratch. They maintain a pool of skilled and pre-qualified candidates — further reducing time to reach and nurture candidates.
The Global Recruitment Process Outsourcing Market size is expected to reach $14.5 billion by 2026, rising at a market growth of 19.7% CAGR during the forecast period [source].
Benefits of IT staffing outsourcing for recruitment managers:
Here are the top 4 benefits of collaborating with an IT staffing company for SMEs.
1. Candidate assessment:
An IT staffing company can help you assess a candidate both technically and culturally. A few IT staffing companies leverage video interviewing platforms to assess a candidate — further brings transparency and efficiency in the recruitment process.
2. Quick hiring:
As the IT staffing company maintains a pool of qualified candidates, you can handpick professionals quickly than in the traditional process. Along with quick hiring, you can get access to talent anywhere across the globe.
3. Reduced training costs:
Hiring an intern and training him in compliance with your project needs is a time and resource-intensive process. Instead, an IT staffing company can help you hire candidates with prior experience to kick start your development as early as possible. This will help you save time and training costs.
4. Compensation and other benefits:
In case of temporary and contract to hiring, the IT staffing services provider will take care of remuneration and other monetary benefits — further take pressure off your plate.
Amzur’s IT staffing solutions:
The tech talent shortage is everywhere, and hiring the right fit has been a growing challenge across industries. It is no secret that having a team of skilled professionals is a boon for any company.
Due to a plethora of reasons, SMEs found it challenging to hire in-demand tech roles either on a permanent or temporary basis. As digital transformation and cloud migration are at a fast pace across industries, the surge for specialized skills is growing now.
Every company has unique tech talent requirements. Therefore, it’s imperative to consider an IT staffing company that can offer flexible IT staffing solutions with proven domain expertise and experience.
If you are in search of such an IT staffing services provider, Amzur can be your IT staffing partner in Tampa, Florida. In our 15 years of journey, we offered customized staffing solutions for companies of all sizes, from various industry verticals.
Unlike the traditional hiring process, we leverage a video interviewing platform to ensure transparency and efficiency. Our certified talent acquisition experts and consultants from various disciplines with profound experience help you get the best talent on board within your timeframe and budget.
Be it a DevOps engineer, mobile app developer, AI/ML expert, ERP developer, or QA specialist, Amzur can source experts with the right skills set. We evolve with our client requirements and strategize the approach to offer an improved candidate experience.
Want to get access to pre-screened high-quality and peer-reviewed IT candidates? Amzur helps you with bespoke talent acquisition strategies to ensure the right cultural fit for your organization.