Top talent is harder to come by. Attracting and retaining valuable employees is now a focus for many industry leaders. A recent survey by HR consultants, Manpower, revealed that almost 40 percent of employers worldwide are experiencing a talent shortage.

The first impressions of a potential employer can determine the outcome of a hiring process. Poor procedures when trying to lure a top candidate can be costly. Dr. John Sullivan of ERE.net explains that a delayed response to a candidate will soon send them to a competitor with a culture that values its human resources. According to Sullivan, slow hiring damages corporate recruiting more than any other issue, and the potential costs can reach tens of millions of dollars each year.

• Most candidates will be lost late in the recruitment process, when a company has already accumulated search, screening, and interviewing costs. Top candidates may receive multiple offers and, according to Sullivan, many are in the job market for only 10 days. They are in demand and competitors will quickly take them off the market. Companies must hire fast.

• A compounding effect of slow hiring is that, as the best candidates drop out, only the weaker candidates are left. Slow hiring equates to the hiring of average talent. Additionally, productivity suffers if a company has vacant positions.

• Poor hiring practices will damage an employer’s reputation. The way that your company treats job seekers reflects the company’s culture and business decision-making processes. Top talent is attracted to dynamic industry leaders with clear direction. Reputation matters. Talented individuals will attract other talented workers to an organization through word-of-mouth and company review sites such as Glassdoor.com.

• Partnering with a staffing firm can speed up your hiring and improve your chances of acquiring top candidates. Professional recruitment firms know how to find the best candidates and quickly get them on board. We can help you to improve your employer reputation so that you can hire the best candidates early in their careers.

Contact a Morris Bixby Group staffing professional to discuss how we can improve your reputation, speed up your days-to-hire, and help you secure the best workforce while reducing your recruitment costs.