The study of more than 2000 Australian workers by recruitment firm Robert Half reveals that slow recruitment meant that more than one third (39%) of Australians become disheartened during a lengthy recruitment process and were lost to the process.
And a further 33% lose interest and actively pursue other roles, while 30% question the company’s ability to make decisions.
“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,” says David Jones, senior managing director at Robert Half Asia Pacific.
According to Jones, 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)".
Jones cautions that with 32% of Australians identifying the long wait before hearing back from an employer after an interview as the most frustrating part of the job search, hiring managers need to keep lines of communication open during the recruitment process.
And the research also reveals that almost 4 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 4 (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,” Jones says.
“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.”
The study also found that when asked how long is too long for a hiring process — from the day they are initially interviewed for a job to the day a job offer is extended — 1 in 3 (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,” Jones concludes.