Sponsored by Hiring Hub, an award-winning UK-based tech company that helps businesses find and hire the best talent, faster.
Recent research by online recruitment marketplace, Hiring Hub, has found that nine out of ten UK businesses are making compromises when hiring, with one in three candidates described as “less than ideal” for the role.
For business owners, this is clearly a costly mistake, but Hiring Hub’s research shows it’s happening almost as a matter of routine, which is having a dramatic impact on business growth, productivity, and the UK economy as a whole.
There are approximately 700,000 jobs waiting to be filled in the UK at present. With an average of six candidates interviewed for a role, each for an hour, this equates to 4.2 million hours spent interviewing candidates. But that’s just half the story.
The study also found that only 48% of the whole recruitment process is spent actually getting to know the candidate in interviews. The other 52% is spent managing recruitment agencies and vetting CVs. That’s a total of 8.7 million hours. Or 362,500 days, each year.
If one in three aren’t ideal, you are looking at 2.6 million wasted hours.
With that in mind, it’s no surprise Britain is lagging well behind other advanced economies when it comes to productivity and growth. But that doesn’t need to be the case.
Hiring Hub have identified 5 ways you can improve the outcome of your recruitment process today, so you can avoid making a compromise and hiring unsuitable candidates.
Author: Simon launched Hiring Hub in 2011 with co-founder, Sara Jones, intent on making it easier for companies to find and recruit talent, faster. It has raised £1m of growth capital, which has helped Hiring Hub develop into one of the most exciting and talked about technology companies in Britain; it was ranked #34 in the UK’s Top 100 Startups and was included in both the Future 50 and Accelerate 250. In addition to Hiring Hub, Simon Chairs the Conservative Party’s Northwest Business Council and is an ambassador for the National Apprenticeship Scheme.