June 8, 2023, Cleveland, OH —Recent research by global talent solutions business, AMS and The Josh Bersin Company indicated that global time-to-hire rates are rising. The Talent Climate series, a set of quarterly reports will explore the current turbulent world of talent, providing up-to-date and in-depth insights, trends and solutions on how to tackle changing global conditions. The first in the series focuses on global “time-to-hire” rates. In 2022, this key metric of the talent industry stood at 43 days but has risen a full day in just the first quarter of 2023.
However, there are steps organizations can take even in a challenging market and the talent solution experts at AMS have released their top six tips to reduce time-to-hire:
- Harness the power of data: use talent intelligence to drive your hiring strategy. Analyze historical hiring data to understand where and how to engage talent and gain insights on competitors, skills and locations to develop a broader pool of quality talent.
- Refine your employer brand: develop a tailored and segmented employer brand approach that appeals directly to your target talent. Recognize that a one-size-fits all approach simply doesn’t resonate in a competitive market and consider your candidate value proposition to help create customized messaging for different talent segments.
- Proactively reach passive talent: invest in specialist candidate sourcing capabilities to actively identify, approach and engage with passive talent to allow recruiters to build meaningful connections with candidates.
- Focus on small but significant improvements: deliver an exceptional candidate experience to attract and retain top talent. Offer a consumer-grade experience by simplifying the application process and ensuring mobile compatibility. Even small improvements can make a significant impact on the speed and success of the hiring process.
- Innovate and automate: embrace tools to automate and streamline your hiring process. Automated interview scheduling and other tools can save time and speed up the process, giving your business a competitive advantage.
- Deliver a human experience: prioritize candidate care and build meaningful relationships throughout the hiring process. Investing in human connection will reduce dropout rates post-offer acceptance and minimize the need to restart the hiring process.
Jim Sykes, Global Managing Director of Client Operations at AMS said:
“Changing demographics, job seeker sentiment and skills availability are all contributing to rising time-to-hire rates globally. However, even in the face of macro-changes to the global Talent Climate, our experience tells us there are still things organizations can do to improve their time-to-hire rate and accelerate access to talent. Ultimately, harnessing the power of data and talent insight has to be the bedrock of every talent strategy, without that they won’t have the detail they need to truly make an impact on their talent processes, and they’ll struggle to put the right talent in the right roles, as quickly as they would like.”
Read the report in full here: The Talent Climate Series - AMS (weareams.com)