The hiring managers in all industries including IT use a common catchphrase, “I’ll know it when I see it”. This type of freewheeling attitude during the hiring process can be extremely unfavorable to your company as it slows down the process and results in costing you resources, time, and money. In an era where the IT industry is becoming more and more competitive—and the candidates have a large number of opportunities—you need to act speedily if you want to hire the best talent in the market. If you are continuously drawing out the hiring procedure because you keep searching for that “extraordinary capabilities” in someone, you unknowingly limit your candidate group and also end up losing many highly qualified candidates. As a matter of fact, a slow hiring process can have several measurable and real complications in your company. The following are some of the negative effects a slow hiring process can have on your business.
Losing top tier candidates
To tell the truth, when the companies wait to make a hiring decision because they are in the hope of finding a “better” candidate, what they are really doing is isolating the good candidates that they interviewed at the beginning of the process. The job seekers are never going to put their job searching on hold, and as they are interviewing with your company they might also be interviewing with other companies which may as well be your competitors. If you have interviewed someone who checks most of your boxes but still you keep on searching what else is out there, it might be a really good time to reconsider these urges. You must remember that IT is an industry that continues to be extremely competitive in spite of the economy and the people you are interviewing do not necessarily have limited options.
The cost of not filling the role
It is safe to say that the time consumed to hire someone can also put a lot of pressure on the rest of your services e.g. who will be doing the work that should be done by the searched employee? Are other employees getting more burdened? Does this mean the productivity levels for their own work duties are getting affected? The longer this keeps going on, the more it will affect their productiveness over time. If they start to experience that finding help for their department is not the company’s priority, they can also become displeased in their own job duties and as a result, will start looking for new jobs. When it comes to customer privacy and data security there are some compliance issues that must be addressed. The organizations are vulnerable to data threats and other complications if they do not have a dedicated professional in the open role.
A lack of excitement for the job
You are creating a domino effect of declining excitement when you wait too long on hiring decisions. Many of the job seekers are regularly and actively returning to social media and online job boards to see what is going on in the market. Imagine for a moment that you have applied for a job and after the interview, they told you that you were a good candidate but after that, you did not hear anything from the company. What are you going to feel when you revisit their company website and see that the position you applied for is still vacant? You are more likely to lose interest in that position because of the lack of follow up from the hiring managers.
A negative impact on customers
While your employee efficiency levels are just one of the ways you see the cost of not hiring for an open position to rise, the customers will also be instantly affected by the open position. The customers will start wondering about the reason due to which your services are not being provided at the top level. They will either instantly find another service provider or they might begin to talk about the decreasing quality of your work with others, which can badly impact your reputation in the industry. The customer’s expectations are a top priority for any industry and not filling this role effectively can definitely affect the customer experience.
Are you concerned about the high cost of a drawn-out hiring process in your company?
By talking to the team at Staff Augmentation you can see how we can help you hire and source strong professional candidates.