Does this hiring scenario sound familiar?
"Our company needs a part-time executive assistant:
7 days = candidate search
5 days = find time to act on this and conduct interviews
5 days = waiting until CEO can meet top candidates
2 days = discuss and decide, offer Candidate A the job
But Candidate A just accepted another job. So we offer Candidate B the position, only to find that she has been snapped up by another company, as well. Almost three weeks have passed, and we are back to square-one in the hiring process."
Wait... wasn't it just yesterday that you and I were learning the technique of hire slow and fire fast? Yes, I even spoke on that very topic to CEO groups when this was the “winning” equation. But it seems that times are changing.This is a CANDIDATE market.
In many job categories, we are seeing a shortage of great candidates. This means that to “win” the best ones, we all need to take a look at shortening our hiring timeline. Never before has a "hurry-up offense" been such a determining factor in filling a vacancy with the very best person. USA Today recently reported, "Employers who took their sweet time making hiring decisions just a few years ago, are scrambling to snag candidates in as little as a day for fear of losing them to competitors in a tight labor market.” (Read that article. It's an eye-opener!)
What does it mean to quicken the pace of hiring? No, don't skip steps. You need to still run background checks, reference checks (in detail), do personality profiles, and hold multiple interviews. But the time between these steps must be compressed. Here's how...