HOW TO REDUCE TIME TO HIRE
Lengthy recruitment processes are hard on morale and the bottom line. We’ve all heard the old adage time is money, but when it comes to recruitment it’s so much more. Every day you're without an employee could be causing a knock on effect across the business, reducing hiring managers’ confidence in the staffing process and creating a poor candidate experience. Not to mention the amount of money that can be wasted on misguided recruitment efforts.
Hays Talent Solutions have supported businesses to avoid such costly mistakes, or address a number of talent problems by reducing their time to hire through a multitude of process efficiency initiatives, such as:
Process automation to beat the skills shortage
Whilst process automation that comes from implementing VMS software is great for reducing time to hire when you first start out in recruitment outsourcing, it's often only the beginning. When one of our clients, a multi-national financial service provider, noticed they were missing out on some of the best talent in a key area because the top candidates were receiving offers from their competitors before they could get them to sign on the line, Hays knew it was more than just the pay and benefits on offer that needed to be addressed.
Faced with servere skills shortages to stop the competition beating this credit card giant to the post Hays implemented a 48 hour SLA to produce and issue contracts to candidates. Despite the company having implemented one of the market's broadest talent management platforms the current workflow wasn't up to the job. Hays developed a process outside of the system, using office and automated macros to build the contract. Meaning all hiring managers had to do was complete the form, and Hays would take care of the rest.
The process was simplified and streamlined, which led to reduced errors and faster time to hire. In fact the process was so successful it was extended to other areas and geographies. Not one to rest on our laurels we're exploring how much more we can automate using the talent management system, but that's a work in progress so we'll have to get back to you on that one.
Process review to deliver competitive advantageSometimes a simple workaround isn't enough. Sometimes you need to go completely back to the drawing board.
The ability to respond to a client's demands, at the drop of a hat, is the hallmark of success for any business. When your one of Europe's leading IT infrastructure service providers it's essential. This requires a complex and costly 'bench' of skilled technicians, available on demand, whose every assignment, even if just a few hours long, is tracked with precision. So when they wanted to implement a new finance system Hays worked with them to ensure not only did this improve staffing cost controls, but that job requisition and approvals we're improved too.
We don't just wait for a client to come to us with a need or requirement, we're constantly looking for opportunities to improve the way we deliver the best talent to our clients more efficiently. By providing our clients with real time management information, around service quality, delivery and cost, not to mention taking the opportunity to reconfigure the workflows of job requisition, approval and distribution, we supported our client to improve the technology they use to recruit and manage their talent, and their ability to deliver to their clients too.
Some years on and the relationship has gone from strength to strength, with the company's high volume, niche skill set, requirements meaning constant innovation is required to maintain competitive advantage. Outsourcing has enabled the business to achieve a direct hire fill rate of 98% direct fill rate for contractor placements, and 79% permanent fill rate. Reducing their reliance on agencies, cutting out the middle man and therefore improving their time hire.
It isn’t all about long-term big contracts, sometimes it’s just a helping hand to help you meet that milestone.
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