Every employer would like to hire a new employee as soon as possible when the position becomes vacant, but did you know the real, staggering cost of hiring vacancies? Hamilton Recruitment pegs that cost at $27,000 for a two-month vacancy for a job vacancy involving someone with a mid-level salary of $50,000 per year.
Since it takes an average of 42 days to fill a job, a two-month job vacancy is actually not at all uncommon during the hiring process.
Are there ways to hire more speedily than the average 42 days and cut the soaring hiring costs associated with job vacancies? Here are some tips to fill job vacancies as fast as possible and cut the accumulated costs of hiring vacancies.
Make your job description clear
According to Agilus, one of the best ways to fill vacancies more quickly is to create a clear and effective job description, possibly asking the hiring manager to create the description: “After all, they know exactly what they are looking for in their next team member. Making the job description as precise and accurate as possible will help you get only serious applicants who are comfortable with the job duties mentioned and possess the necessary qualifications as well.”
Try an applicant tracking system
Jobs Scan explains an applicant tracking system “provides recruiting and hiring tools for companies. Among other functions, these systems collect and sort thousands of resumes.” If you are trying to hire quickly, organizational tools like applicant tracking systems can be a boon, eliminating some of the time it would normally take individuals to sort resumes.
Use a pre-employment test
Since resumes only provide a limited amount of information about a candidate, pre-employment tests are a useful way of quickly and efficiently screening out candidates who are not the best fit. Pre-employment tests can consist of personality questionnaires, job knowledge tests, culture fit assessments, soft and hard skill assessments. Pre-employment tests can be an effective way to screen candidates quickly before reaching the interview stage.
Work with HR experts familiar with temporary hiring
HR experts who have experience with hiring temporary staff can help employers avoid any pitfalls with rushed hiring decisions. While you want to fill vacancies quickly, you don’t want to waste money by hiring unskilled or unsuitable candidates. As Ranstad explains, “Doing anything faster than normal can increase the likelihood of errors, and hiring urgently is no exception. When you need to fill a position fast for the good of your business, existing employees and clients, it's easy to overlook minor details that could become major headaches later.” HR experts accustomed to hiring temporary employees can help you navigate through the process of hiring urgently with as few errors as possible.
Use a novel hiring solution
Geekbidz is a new, AI-based hiring solution that promotes efficient hiring by allowing job candidates to rank their skills, then pairing employers who use Geekbidz with the candidate whose skills best fit their job description. Geekbidz eliminates the resume and interview steps from the hiring process, thus speeding up the process and making this hiring solution an excellent option for employers aiming to fill costly job vacancies faster.
Keep a Number of Solutions in Your Arsenal for Filling Job Vacancies Quickly and Efficiently
The costs of unfilled job vacancies are remarkable, quickly soaring to tens of thousands of dollars in a matter of a couple months. By anticipating vacancies and planning ahead, however, you can put yourself in the best position possible to hire as quickly as possible. Remember, writing a clear job description, buying applicant tracking software, keeping pre-employment tests on hand, consulting HR experts, and becoming familiar with new AI-based hiring solutions are all important tools in your plan for filling vacancies quickly and successfully.