Slow recruitment times are causing Australian companies to lose out on top candidates. An independent survey of more than 2000 Australian workers, commissioned by specialised recruiter Robert Half, gives a detailed insight into what jobseekers are thinking during the hiring process and what they believe is the ideal waiting period before they decide to move on to other opportunities.
Hiring managers who fail to make timely decisions are confronted with a number of consequences, most notably losing candidates. More than one third (39%) of Australians become disheartened during a lengthy recruitment process. A further 33% lose interest and actively pursue other roles, while 30% question the company’s ability to make decisions.
David Jones, Senior Managing Director at Robert Half Asia Pacific said: “Because companies want to be sure they hire the best candidate for the role, they often unnecessarily draw out the hiring process, adding days or even weeks to the recruitment process. But this often results in companies losing top candidates.”
“Many jobseekers are acutely aware of their market value and are often in contention for several roles, with many top candidates not willing to wait too long during the hiring process, thereby highlighting the importance of an efficient and timely recruitment process as the best way for companies to secure the right candidate (and not lose their preferred candidates to the competition).”
With 32% of Australians identifying the long wait before hearing back from an employer after an interview the most frustrating part of the job search, hiring managers need to keep lines of communication open during the recruitment process.
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Almost four in 10 (38%) Australians are only willing to wait one to two weeks for an employer to inform them of their status before they lose interest in a role, and one in four (25%) even lose interest within the first week.
“The importance of proper communication during the hiring process cannot be underestimated, as waiting to hear back from a prospective employer can be one of the most anxious parts of the process for jobseekers. Timely communication – both for successful and unsuccessful candidates – at every stage of the hiring process also holds advantages for the organisation itself as it can cement a company’s reputation for being professional and fair,” added David Jones.
When asked how long is too long of a hiring process – that is, from the day they initially interviewed for a job to the day a job offer is extended – one in three (30%) Australians say 15-21 days is too long and 28% even felt a timeframe of 7-14 days is too lengthy.
“By streamlining the hiring process, limiting the number of internal stakeholders, and distinguishing ‘must-have’ and ‘nice-to-have’ skills, businesses are able to optimise the hiring process, while not losing top candidates in the process,” concluded David.
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