The ROI Of InstahiringAshley Cavanaghon 9 December 2021 at 5:00 pm RecruitingDaily

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According to AIHR, the average time to hire in the U.S. and most of Europe averages between 24 and 28 days, though it can be much higher. That begs the question: What happens to budget and productivity when the hiring manager has to wait up to five weeks, or more, just to get someone in the door? And that’s before we consider the onboarding process. That’s a lot of lag time.

In Nightmare No. 2, almost half (49%) of job seekers in critical fields like technology turn down an offer because of an initial bad experience. Ouch.

It’s time for a different way to hire.

The Right Technology is Critical

A survey from LinkedIn found that 68% of recruiters believe implementing the right technology is critical to their success. Technology won’t replace recruiters, of course, but it will help them work more efficiently and avoid busy work. For example, by 2025, LinkedIn said, asynchronous video interviewing will reduce the screening process from three weeks to 48 hours.

Also, 85% of responding recruiters believe that engaging passive talent will continue to be critical when it comes to maintaining a flow of candidates.

Meanwhile, respondents to a survey by Jobvite found an increased focus on efficiency, including automation and artificial intelligence, to significantly improve the recruiting process. One expert compared the process to either casting a wider net to find enough candidates or looking for a needle in a haystack when searching for the most qualified. If a recruiter does something five times a day, it should be automated, he said.

There’s a Pattern Here

In order to stay ahead of the competition, recruiting teams in 2022 and beyond need process efficiency and access to innovative technology like:

Lightning-fast mobile capability.
Automation of repetitive tasks.
Secure online assessment tools.
Access to remote, video, synchronous, and asynchronous interviewing.
Evergreen candidate data that can be accessed and reused.

And it looks like HR leaders agree. Some 74% of respondents to a PwC survey said they plan to increase their spending for HR tech in order to meet human capital challenges.

The Market has Pivoted Again

Which means another challenge for recruiters. This has been the year of “The Great Resignation,” where workers resigned in droves, unemployment ran amok, and gaps in the workforce popped up all over.

But in 2021’s waning days, we’re seeing a new phenomenon: “The Great Rehiring.” While that’s good news, it also means recruiters who couldn’t find candidates because of mass resignations will now have difficulty managing the flow of candidates as rehiring initiatives gain traction.

It’s a good problem to have in the post-pandemic marketplace. But it means recruiters will need every resource available to maintain their pace and quality.

The Concept of Instahiring

Talview introduced the concept of “Instahiring” to address issues surrounding time-to-hire as the key metric in recruiting and hiring. Talview has since added AI-powered solutions for hiring and assessments, and live proctoring solutions to ensure integrity during the hiring process.

The Instahiring process and app combine all of the technological and process requirements recruiters need to compete in an ever-changing race for talent.

The Talview Measurement Platform automates the time-draining repetitive tasks that slow recruiters down in their most important objective – hiring great candidates. The app specifically targets mobile-first users and integrates into most applicant tracking and learning management systems.

Talview uses its RAR technique – Remote, Automate, Reuse – to address the pandemic’s challenges. Enabling anytime/anywhere hiring, the platform is designed to cater to the “mobile-first” internet user of the 21st century, who understands how to use virtual methods of communication.

Remote

In the past, remote interviewing wasn’t the first option that recruiters considered unless they were multinational, or circumstances required it. Global restrictions changed that quickly. Today, hiring teams must have the resources to respond in real-time to recruiting needs.

At the same time, remote interviewing through mobile devices allows for real-time synchronous connections between candidates and hiring teams.

With the state of the post-pandemic workforce, remote work isn’t a new concept. After all, it’s been a buzzword for the last 18 months. Today, Talview helps employers gather as much information as they need in hiring, which can then be used to build talent profiles and pipelines.

Automate

Automation is one of the most critical things that HR and hiring teams can do to improve time-to-hire results. With AI interviewing, auto-scheduling and automation of repetitive tasks, Talview takes automation to another level.

Reuse

Starting over every time a position needs to be filled is obsolete. Reusing data that’s already on file eliminates duplication of work and enables easier analysis of data.

The Bottom Line

Using Talview’s Instahiring approach, recruitment time can be reduced by 66% by providing candidates a mobile-friendly, real-time, efficient experience. To get a sense of how your process stacks up, check out Talview’s convenient tool to help busy people teams determine the possible ROI of their current processes – and how much they can improve by adopting the Talview Measurement Platform.

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According to AIHR, the average time to hire in the U.S. and most of Europe averages between 24 and 28 days, though it can be much higher. That begs the… Read more
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