Despite the slowing economy, tech hiring engines are still running, as companies need to keep innovating and building to stay competitive. The war on talent has never been so fierce, especially in attracting top quality candidates. The speed of your recruitment process is a huge factor in determining whether the top software engineers accept your offer or move on to join your competitor’s team.
Statistics from PwC show that 49% of candidates turn down job offers due to a poor recruitment process. Employers need to focus on ensuring the candidate experience is accommodating and attractive so as not to lose top quality talent. With speed being one of the main factors, how can we improve hiring speed and shorten a lengthy recruitment process?
Why is speed of hiring important?
The average time to hire for engineering roles is 49 days, according to Linkedin. To stand out from your competition and attract the best tech talent, speeding up the process is a key factor.
Here are 6 top reasons why employers should adopt a faster recruitment process.
- It’s a candidate driven market – With the shortage of local tech talent, everyone is competing with other employers to hire the best software engineers. Instead of the old-school approach of letting candidates come to you and choosing from a big pool of applicants who are fighting for your open roles, tables have turned and the best tech talent now “run the show”.
- Quality software engineers are in high demand – Especially senior talent who have 7+ years of experience. According to Builtin.com, the top prospect candidates are off the market in only 10 days.
- Uncertainty for the candidate – If your candidates are kept in the hiring process for too long, it causes doubt and uncertainty for them about the company, and they may withdraw from the process.
- Lower performing talent remain – The grass is not greener on the other side. Hiring managers may hesitate to decide quickly on a great candidate for fear of missing out on other good candidates. However, chances are other companies also acknowledge your quality candidate, and will hire them before you do. This leaves you with lower performing talent left in the pipeline to choose from.
- Reduce candidate bidding – Extending an offer quickly means the candidate can accept your offer before they are bid on by other employers, thus lowering your salary cost.
- Let candidates move on – Giving timely feedback on those candidates who are not the right fit for your company lets them move on quickly onto other opportunities.
- Drain on internal resources– A lengthy process takes up your team’s valuable time to conduct interviews, reviewing long code challenges, and management of the overall pipeline.
Shorter hiring processes are trending
With increased priority to improve candidates’ recruitment experience, and in particular the length of the process, employers are starting to adopt shorter hiring processes. Our team at VanHack, a leading tech recruitment company that’s helped over 600 companies hire quality international tech talent, has seen first-hand what hiring teams have implemented in their processes.
- Job position determines the process – Firstly, the length of the hiring process depends on the position. It’s great if you can have a super fast process, but more senior engineering roles will naturally take longer – you’d want to ensure this hire is the right fit and they will need to meet with more stakeholders in the company.
- Two-step process – Our talent managers and recruiters at VanHack have been seeing an increase in short two-step processes, consisting of an interview with the HR team and a technical interview, totalling about a week to extend the job offer. Some companies opt for an even more efficient process and complete everything in one day.
- Coding challenge – Companies that implemented a shorter process don’t always have a take-home technical assessment. This is usually replaced by a technical interview with the Tech Lead or Manager, comprised of live coding, answering technical questions, or working together on a problem.
However, many companies still place importance on the value of a code challenge for discerning candidates’ skills. To implement effective code challenges, design them to be completed within 1-2 hours max. If it’s a lengthy assignment, candidates need to set aside time to complete it over the weekend, which adds about a week to your process.
💡Hot Tip: An example we’ve seen employers give their candidates is a 30 minute React challenge.
Technical assignments that can be finished quickly are the most effective, since you can quickly see results and assess whether you’d like to move forward with the candidate.
- Get the best candidates – For non-senior engineering roles, we consistently see that a faster process leads to the best candidates. Experienced recruiters and hiring managers also will know right away whether they want to work with a candidate or not – so it’s time to evaluate your process and shorten where possible.
Remarkably fast hires
At VanHack, we’ve seen some remarkably fast hires. These cases prove that short recruitment processes are possible and more employers are adopting strategies for expediting the hiring process.
- A FinTech company in the US recently hired a Senior Infrastructure Engineer within two days of posting the role on VanHack. The candidate started onboarding the very next week.
- A JaaS company in Europe hired a Data Engineer in one week, where the interview and technical assessment were completed in one day and the job offer was made the week after.
- A marketing data company in Canada hired their VP of Engineering within 24 hours of posting the position.
Build your diverse tech team, fast
VanHack helps connect companies to a diverse global talent pool of close to 400,000 software engineers. Our team does the hard work of vetting and ensuring they have certified English skills, and shortlists candidates best suited to your open roles.
Whether you’re looking to relocate software engineers or adopt a remote-first working culture, VanHack can assist. Having processed over 800 successful applications, we take care of all the immigration and visa application paperwork for relocations. We also offer partner solutions that cover foreign compliance and payroll services for remote employees, saving you valuable time and resources.
The average time to hire is 41 days for employers who partner with VanHack, with some even seeing their developers come on board in as soon as 2 weeks. Discover how we can help you hire quality software developers, streamline your hiring process and diversify your team.