When it comes to assessing the effectiveness of a business’s recruiting process, it often comes down to two things — the time-to-hire and the quality of those hires. But as the job market continues to expand and more and more candidates are looking for not only well-paying jobs but ones that make them feel valued, offer wholistic benefits, and start off with a stellar candidate experience. Meeting all of these needs makes getting high-quality hires difficult for businesses of all industries.
Demanding recruitment goals can be met by using the right approach to recruitment SaaS — automation. Many businesses have started implementing automation into their recruitment processes to help them more quickly assess candidates to focus their efforts on only the most qualified candidates. Automated recruiting processes can come in many forms, and many businesses are still wary of these technological advancements in the recruiting process.
The truth is if your competitors are using asynchronous interviews and you aren’t, you’re likely going to be missing out on the best candidates every time. So, to show you exactly what kind of improvements you are missing out on by forgoing automation, here are 4 costs of not automating your recruitment processes.
1. Time
The unfortunate truth is that right now in the US employees can spend up to a day of work simply doing all of the administrative and repetitive tasks they need to do in a week — that leaves them with only four days per week to do all of their creative work.
This can be even worse for recruiters; taking the time to manually enter data or sort through resumes can take up to 40% of their time. This leaves them with only 60% of their time to spend on improving recruitment ROI, reviewing candidates, building relationships, and focusing their attention on the most promising candidates.
2. Reduced Productivity
It is no secret that candidates prefer a shorter and more direct hiring process to a long and drawn-out one. After all, wouldn’t you prefer to have an answer quickly so you can continue pursuing other options as well? But, without automation, recruiters are forced to handle tons of manual tasks each day, which reduces the overall productivity of your recruiters.
In fact, nearly 60% of employees estimate that if their repetitive tasks were automated, they would be able to save almost an entire workday (six or more hours) each week. The time that automation can save on these repetitive tasks is time that your recruiting team could spend on tasks that require human creativity — such as improving the candidate experience or improving recruitment ROI.
Which is better, phone interviews or video interviews? See how they compare.
3. Unpredictable Workflows
While manual reporting processes may have worked well in the past — as we continue to introduce more tools, systems, and processes into our general workflows — manual reporting can become confusing and very time-consuming. Because of this, it is much more efficient to automate workflows. This creates a clear structure as well as a sense of routine and improved accountability, which can help you ensure your business is on the right track.
4. Loss of Talent
A long hiring process can not only be draining on your recruiting team but also result in an unfortunate loss of talent that your competitors are hiring instead of you. According to SHRM, the average time-to-fill of a position is 36 days. But, if you take into account that many businesses are utilizing on-demand interview software that helps them to dramatically decrease their time-to-hire by eliminating the need for days spent scheduling interviews, that 36 days it takes you can become way too long of a wait for your candidates.
According to a survey discussed in a Forbes article, 46% of candidates said that if they get no status update a week or two weeks after their interview, they would lose interest and focus on other companies. That is nearly half of your candidates leaving if you have a slow time-to-hire.
So, if you are ready to automate your recruitment process and avoid all of these costs, read about how Qualifi helped Five Star Call Center re-engage 50% of their lost candidates through automation.
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