Acquiring top talent takes a specific set of skills and near the top of that list is time management. One cannot successfully recruit without properly managing time throughout the hiring process. While we view our own time as valuable, it must be remembered that a candidate's time is valuable too.
Assigning a Timeline to Your Hiring Process
After identifying a hiring need, before the recruitment process even begins, a great habit is to set a timeline for the various stages of your hiring process (ex. first interviews, skill assessments, final interviews, reference checks etc.) with established deadlines and expectations assigned to each stage. Not only does this help to maintain the sense of urgency that filling the role requires but it also holds you, as the hiring manager, accountable to the candidates who are going through the hiring process.
Why It's Better to "Fail Fast" With Candidates
Without a structured timeline, and with so many different priorities needing attention, it is easy to put hiring on the back burner. But there are risks associated with a very slow interview/hiring process.
Missing the chance to hire a great candidate: A candidate who is considering multiple opportunities might accept a different offer from another organization if they are not seeing quick progress with your organization.
Large amount of time being invested with no results: If your interview process is slow, and you realize after an extended period of time that the candidate you've been considering isn't the best fit after all, much time has been wasted with no results.
Having to re-start from scratch: If a long interview process does not lead to a hire, there is a high chance that any remaining candidates have lost interest or moved on to other opportunities and the search process must be re-started.
Having an established timeline makes the hiring process more efficient and holds the hiring company more accountable to the candidates. A candidate's time is valuable and when this is recognized, it creates a positive candidate experience and can boost your employer brand for future hires.