We’ve heard it again and again from clients over the last year. Competition for top talent is tougher than ever before. Many employers are going up against big box retailers like Amazon and Walmart in the battle for employees. So to stay on track, it’s more important than ever before to hire quickly.

Our recommendation is to aim to make your hires within 5 days of posting a job.

But in order to be successful in your recruitment, it’s important to recall that the quality of your hires still matters even if you speed up the hiring process. Remember, a bad hire can cost you 30% of that employee’s first-year salary, so rushing into hiring the wrong person may carry more risk than its worth.

So how do businesses that need to hire fast do so without negatively affecting the quality of hires they’re making? We’ve outlined eight helpful tips to get you hiring faster and more effectively.

1. Respond to all applicants immediately after they apply

Communication is key throughout the hiring process. In fact, a CareerPlug survey of recent job seekers found that applicants consider prompt and frequent communication with their potential employer to be a major positive factor in the candidate experience. But as a business owner with a lot on your plate, you can’t be glued to your inbox all day.

So how do you pursue a great candidate who applies before another employer does? By using an applicant tracking system that automatically sends interview invitations to your ideal candidates. You can also automate sending polite rejection emails for applicants who don’t check all your boxes.

The best candidates have a lot of options, so hiring managers should hire with urgency before their top prospects move on to other offers. You can put your business at a significant advantage if you contact candidates sooner than your competition.

2. Recruit heavily from employee referrals

Instead of only recruiting from job boards, it’s very likely that some great applicants are right under your nose. That’s why an employee referral program can be a huge asset to your business and recruitment strategy and can help you speed up your hiring process.

Our 2024 Recruiting Metrics Report also discovered that the best source of high-quality applicants is employee referrals, who are 11 times more likely to become a hire than candidates who apply from job boards.

Recruiting internally through referrals is a great way to speed up your recruiting because these applicants already exist within the network of your employees. Think about it: your team already knows your company and what an ideal candidate should be, reducing the time it takes you to vet each candidate and gauge their interest. Plus, employee referrals are hired at greater rates than job boards, can be onboarded quicker, and have higher retention rates. Talk about a win-win!

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