The Hidden Costs of Hiring Part 2: Are You Taking Too Long to Hire?
Catch up on Part 1 of this series here.
When you’re understaffed the cruel Catch 22 is that you often do not have enough time to find a great candidate for the role you need filled. No time to fill it, but also no way to get ahead and give you more margin without having it filled.
Results of a “Time to Hire” survey released by staffing giant Robert Half in August 2016 show hiring managers who take too long to make a hiring decision after an interview lose out on qualified and interested candidates.
In our own work at McKinley Marketing Partners, sadly, we can attest to this. The best and brightest might only be on the market for a couple of weeks–if not a couple of days.
More than 1000 people who work in office environments were surveyed in the “Time to Hire” survey. Here are the results:
- 57 percent said the most frustrating situation in the job search is the long wait to find out if they got the job or advanced to the next step.
- When asked how long is too long to wait after the initial job interview until an offer is received, 39 percent said seven to 14 days, while 24 percent said 15 to 21 days.
- When faced with a lengthy hiring process, 39 percent said they lose interest and pursue other job openings.
- 32 percent said it causes them to question the company’s ability to make other decisions.
- 46 percent of candidates said they are willing to wait one to two weeks to hear from an employer after an interview before losing interest in the role.
- Only 23 percent would wait up to one week after an interview without losing interest in a role.
Consider Using a Staffing Firm
Staffing firms help you find the right fit for your specific need. Are you a nonprofit leader who needs someone for a specific project? Do you need someone to cover a maternity leave? Or are you looking for someone with a very specific skill set, such as UX design? Staffing firms can help. Some focus on niche areas such as marketing, healthcare, or IT and can fill a company’s needs with the right candidates, quickly.
Recruiters at staffing firms are your secret weapon. Recruiters have a finger on the pulse of industry trends and best practices and are experts on accessing top talent. They will work with hiring managers to find someone who has the right mix of skills, education and experience. Also, if a company has an established relationship with the staffing firm, there is an added bonus: the firm will be able to refer candidates who would also be a good cultural fit.
Staffing firms do a lot of the heavy lifting. We vet the talent, conduct reference and background checks, and even offer medical coverage to our consultants. While an organization may pay a higher hourly rate for these workers, it actually saves money associated with administration, payroll taxes, health insurance, workman’s compensation claims and unemployment benefits. And temporary workers are only paid for hours worked. This allows their workload to be scaled down if a project or product launch slows down unexpectedly.
Try Before You Buy
By using candidates on a contract-to-hire basis, organizations can take a test drive. You can determine if the consultant has the right skills to do the job and if they are a good culture fit. Job descriptions and resumes can only tell so much about a candidate but through observation, everything becomes clear. It’s truly the ultimate hedge against a potential bad hire. If it all works out, you can hire the person as a full-time employee. If not, you each go your separate ways.
Contract-to-hire is a helpful practice for newly-created positions. It can be difficult to gauge what personality or skill set will best fit a brand new role. And there is no baseline for comparison for good or bad performance. The “try before you buy” concept allows for trial and error as the role is defined and morphs. And sometimes a full-time position is created for a specific project but once that project is complete a FT employee is left without a clearly-defined role. Contract-to-hire helps alleviate those challenges.
Contract-to-hire allows for flexibility to keep or convert someone if they turn out to be a great fit and if there is more work to do. Many contractors do end up converting, which is a win-win for both parties. It can also be a plus when headcount is not approved for a department. Contractors can be line items in a budget instead of full time employees until there is money to bring them on full time.
By budgeting properly and by using a staffing firm for your hiring needs, marketers can focus on what you do best while ultimately saving your organization time and money. Using a staffing firm helps you speed up the hiring process, find the right candidates, and gives you all the options and flexibility you need to build your dream team.