CFO is focused on reducing Cash Cycle, Who is focused on reducing Recruitment Cycle?

As a recruitment firm executive, I have been keenly focusing on reducing our recruitment cycle since it affects my firm’s cash cycle. However I feel so lonely in my crusade against long recruitment cycles since I don’t find any corporate executive focused on reducing his organisation’s recruitment cycle. Neither do I see any independent body such as NASSCOM evangelizing recruitment cycle reduction.

Perhaps fear of wrong hire is the primary force deterring companies from valuing benefits of a lean talent supply chain with short cycles. I would like to suggests methods to reduce recruitment cycles without compromising on quality of hire.

  • I come across several companies that have series of interviews for investigating the same skills. When we trust employees with company secrets and business critical decisions, why wouldn’t we trust an employee to rightly gauge the skills?
  • There are several HR consulting firms that offer predictable and consistent psychometric tools to gauge suitability of a candidate. Wouldn’t use of such tool make life of candidate easier, more transparent and faster!
  • Systematic telephonic interviews conducted by Gallup consulting is all too popular. In simily, interviews could be outsources thus reducing TAT. Also tapes of such interviews could be heard by the hiring managers during their leisure.
  • Companies could use their corporate sites to provide more information about the company and allow candidates to explore more ways to find out whether they want to be working in the company they are applying rather than taking an offer and then researching whether they would want to join.
There are several other ways, but essentially, what I would like to convey is that one could adopt faster processes for recruitment without reducing quality of hire.

In spite of having good recruitment processes, we would have bad hires, and its essential to have an established process of eliminating bad hires systematically. If we could reduce TAT of finding and eliminating bad hires then A nimble short TAT recruitment process would further compliment the talent supply chain.

While companies indulge in lean management of other passive assets, they fail to attribute justifiable thought to wards management of human assets and talent supply chain.

People are the greatest asset of any company and it is imperative that a nimble and time efficient recruitment cycle is adopted to manage this great asset.

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