In a candidate driven market, speed is essential.
In the most recent episode of High Growth Matters, Nick Vossler tells us how he reduced his employer's time-to-hire by 32% in one quarter while maintaining a 92% candidate NPS.
Nick is currently a senior recruiter at OpenComp and has spent time recruiting GTM and technical roles at companies like HouseCanary and recruiting firms like Connery Consulting and Michael Page.
This blog has been adapted from that conversation and covers:
- Streamlining the hiring process without compromising quality
- Establishing a talent pipeline
- Strategies for accelerated recruiting
- Comp tools that help
Don’t miss the full episode: Accelerated Recruiting: How a Series A Company Decreased Time to Hire by 32%
Streamlining the recruiting process without compromising quality
Nick changed the trajectory of OpenComp’s hiring process in the span of a single quarter. In Q1, the company averaged 65 days-to-hire. By Q2, this number had dropped to 33 days.
The accelerated timeline has had a huge impact on the organization, brand perception and candidate experience, starting with people engagement.
“Big brands have the luxury of established track records and reputation that can keep people engaged for a long time,” Nick says. “But you don’t have that at a startup — it's important to demonstrate you’re very interested in a candidate.”
Before Nick helped cut the hiring-process time nearly in half, the acceptance rate of his employer was at about 50%. Pulling from his experience in sales, Nick holds onto the belief that time kills deals, so he accelerated OpenComp’s timeline. Acceptance rates rose from approximately 50% to 67%.
Want to hear more about the benefits of a quicker hiring process? Nick divulges details on the comp tools, systems and processes that were effective for his company. Listen to the full episode of High Growth Matters to learn more.
Establishing a talent pipeline (while avoiding bottlenecks)
Without a streamlined hiring process, organizations often have problematic bottlenecks.
For example, once a candidate interviews, without already-established next steps, the candidate can often be passed around from interviewer to interviewer.
While it’s essential to be thorough when making hiring decisions, unclear processes can have adverse consequences for recruiting and hiring. Further, clear and repeatable hiring strategies and methods can help to eliminate bias.
“When you have something established that’s focused, aligned and repeatable, it removes a lot of bias,” Nick says. “You’ll also get a better gauge as to who's the more desirable talent.”
Strategies for accelerated recruiting and hiring
There is no cure-all for an inefficient hiring process. But there are several comp tools and strategies Nick suggests to streamline your operations.
1. Implement candidate and employee experience surveys
Before you can change your hiring process, you have to understand exactly where your strengths and weaknesses lie. Then, in addition to addressing any inefficiencies or problems, you can use the opportunity to urge candidates and employees with great experiences to share them publicly.
2. Focus on Glassdoor reviews
Most serious candidates research organizations and previous candidate and employee experiences before investing their time in an interview. Glassdoor reviews matter much more than many business leaders think.
“If candidates have bad experiences, you’re going to get bad reviews,” Nick says. “But if there are consistently good reviews, that lends a lot to your brand recognition.”
The best way to encourage candidates and employees to share their positive experiences is to share the importance of the ratings with them. Nick focuses on building pride in company ratings so that every employee feels the culture is something they own.
3. Build cohesive branding
According to Nick, creating a strong brand that resonates with people can decrease the time required to find and attract candidates, while also increasing inbound flow. So, instead of digging through LinkedIn and similar platforms, candidates with an affinity for your brand come straight to you.
“Instead of burying yourself in sourcing work, you’ve got qualified people coming to you,” he says. “You’re going to get better candidates a lot sooner.”
4. Limit candidate decision-making time
While you don’t want to make candidates uncomfortable, limiting the time an offer is out can streamline hiring processes and ensure better organizational alignment. Nick suggests offering a week for decision-making, which may vary depending on your hiring context.
“You have to find a balance and establish mutual respect between employee and employer,” Nick says. “Allowing too much time when recruiting opens the door for your offer to be leveraged — and a candidate with true alignment won’t need that much time.”
Try OpenComp's comp tools for free.
To hear this episode, and many more like it, you can subscribe to The High Growth Matters Podcast on our website, Apple Podcasts, Spotify, or just search for The High Growth Matters Podcast in your favorite podcast player.