Quality vs. Quantity – is Less More When it Comes to Talent Acquisition?
The age-old question of quality vs. quantity can be argued in relation to many different subjects. However, today we are discussing how it relates specifically to the world of talent acquisition.
It’s no surprise that recruiting and retaining top talent is a leading priority for organizations globally and is arguably the most challenging task of HR managers today. With fierce competition and ever-evolving online outlets, the role of filling positions is a time consuming and expensive task. However, with Recruitment Marketing Technology platforms on the rise, the days of using lengthy excel spreadsheets and sorting through unqualified applicants are very quickly becoming a thing of the past.
Recognizing that time is money, a common goal amongst HR departments is to reduce the time spent to fill positions and in doing so, the cost. But the question is: what is more important to focus on? quality candidates or a mass quantity of candidates?
The answer is simple: quality = less time & money spent.
In order to reduce the time spent, you need a streamlined process that provides you with the RIGHT candidates quickly. By choosing a candidate relationship management (CRM)solution that is quality focused, you will be sure to reduce the time and cost in multiple areas of your recruiting process.
Here are three examples of how a quality focused CRM platform can help reduce the time and money spent on talent acquisition:
- Time to hire – using a CRM solution decreases the average time to fill a position from 56 days down to 16-36 days on average
- Recruiting/ Headhunting Costs – using a well developed talent pipeline decreases the need for broad human resource marketing activities, thereby the costs
- Staff Turnover Rate – candidates are better suited for positions as they will be well aware of the company culture and will have evaluated their personal fit prior to interviewing, thereby lessening the risk of leaving within the first year
The IntraWorlds Engage solution focuses on nurturing potential candidates by way of targeted content and progressive profiling, which helps increase the quality of candidates and decrease the time spent in doing so.
Click here to learn more about IntraWorlds effective solution for engaging, managing and retaining quality candidates.