With the increasing competition across all facet of industries and organization, the last thing any business want is getting its recruitment process wrong. The consequences of onboarding or hiring the wrong person into your company are best left to your imagination as it can deal your brand a devastating blow and throw a wrench in the working of your company.
To save yourself the heartbreak and cost of employing the wrong employee, you need a recruitment strategy — a plan that will help you spot the right talent for your organization.
As we hinted earlier, if you get your recruitment process right, there is no limit to how much your business will grow.
Understanding how to effectively attract the right talents and retain the best of them will position you to reap the benefits of an effective recruitment — improved staffing, improved performance, and increased profit margin.
What is the recruitment process?
If you are not sure what the recruitment process entails, it is simply the process of finding suitable candidates to fill or occupy positions in an organization. Recruitment involves a series of closely knitted processes: attracting qualified talents, conducting interviews, selecting the most suitable, hiring and onboarding the best candidate to fill vacant positions.
The recruitment process is followed through in stages, and you need to master all of them to ensure successful recruitment. To not leave anything to chance, most companies who are looking to undertake recruitment delegate the responsibility to either an in-house recruitment team or an external agency. That way, they’d be sure of hiring the right employee.
How long does the hiring process take?
Because of the several stages involved in recruitment and the resources that go into planning recruitment, one can understand why the hiring process takes so much time.
Because staffing requirements differ from company to company and organizations vary in size, scope, and structure, no two recruitment processes are the same. Every organization needs to create a unique template for its staffing needs.
Companies always adopt unique strategies for attracting and sourcing talents or suitable candidates, conducting interviews, vetting, and hiring the best employee. Part of the recruitment process involves establishing a vacancy, creating a job description, and advertising the role (either for internal or external recruitment).
How does the recruitment process benefit organizations?
Executing an effective recruitment process benefits businesses and organizations in many ways:
1. Improving productivity
The recruitment process can help improve productivity by hiring new staff with fresh ideas that will boost productivity and spur the organization’s growth.
2. Saving recruitment cost
Having an effective recruitment process means that you don’t have to spend much on hiring. An internal recruitment team will help you to shave off a significant amount of recruitment costs.
3. An effective recruitment process attracts larger talent pools
In recruitment, the famous maxim is that the larger the talent pool or applications from suitable candidates, the higher your chances of selecting the right candidate.
Having a larger talent pool also ensures a quick turnaround when organizations need to hire more hands. As such making it easy for companies to scale and propel their business growth.
Finally, an effective recruitment process makes it easy to fill vacant positions or roles quickly. What that does for the organizing is that it makes it appealing for suitable candidates in the future.
Measuring the success of the recruitment process
To determine whether your recruitment process is yielding results, you need to keep track of important recruitment metrics. Tracking important recruitment metrics helps you evaluate the recruitment process and measure the ROI of hiring the right employee.
Some of these metrics include time to hire (how long does it take to fill a vacancy), quality of hire (qualifications and suitability of the new employees), cost per hire (cost of recruitment and onboarding new hires), and retention rate pr(how long do employees spend on the role).
If you are having challenges with your recruitment process, evaluate all metrics to find any loopholes. Understanding the problem will help you decide on what recruitment strategy to adopt.
Times are changing fast, and the recruitment process is not left out on the fast-paced change sweeping across all facets of human endeavor. As a result of changing recruitment landscape, organizations will have to reinvent their recruitment strategy.
Running an effective recruitment process means staying abreast of trends that affect recruitment, such as candidate control, the role of social media connectivity, candidate attraction, and tapping into the teeming population of millennials. If you need expert guide on fine-tuning your recruitment process, it’s always best to contact a recruitment specialist so you don’t leave anything to chance.