Slow Hiring Process: Enlightening Clients on its Effects

In this series of posts, we have covered how staffing firms can help to navigate a slow hiring process. As candidates are likely to get frustrated, it’s important to focus on candidate experience and doing your part to keep the process on track. However, as your firm is doing the heavy lifting, your clients likely don’t understand the full implications of their slow hiring process – most of which are counterproductive. As we explore the facts that you can enlighten your clients with, secure your firm with a Staffing Liability Insurance policy.

Slow does not equate to higher quality hires.

According to ERE Media, you might assume that taking more time to make a hiring decision would result in better hires, simply because you had more time to gather information, to gather feedback, and to mull over the finalists. Unfortunately slow hiring has the opposite effect. The longer you take, the lower the quality (i.e. the “on-the-job performance” of new hires) will be. The primary reason for this drop-off, as mentioned in the first section, is that with an extended hiring process, all of the top candidates will likely drop out, leaving only weak ones to choose from. Remind your clients that they are competing with other similar firms for the same pool of qualified candidates, so time is money.

Loss of revenue.

Without the people to fill the positions, your client loses out on an opportunity to create and capture revenue. While they might think they are saving money in terms of not having to pay someone a salary for a short time, this only puts extra pressure on existing employees to pick up the slack.

Spending more to acquire the candidate.

The longer your clients wait to hire, the more likely they are to have to bid for the candidate. The market favors job seekers, so if your client wants to secure the best talent, making a prompt move will work in their favor.

About World Wide

For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage we have available to protect your staffing business, give us a call at (800) 245-9653 to speak with one of our representatives.