According to many human resources experts, firms that fail to conduct hiring practices in a proper way could be losing out to industry competition.

In a recent article for Business Insider, Brooklyn Bridge Ventures founder Charlie O'Donnell states that even when companies find the right candidate, they can miss their chance to hire the person because of a failure to communicate in a timely way. He recommends that when conducting the interview process, it should take place over just a few days if there is more than one conversation involved, and that offers should be made shortly after.the meeting or meetings have taken place. Otherwise, competing firms could scoop up the talent if a hiring decision isn't made quickly enough.

"If you can't pull the process together to make a quick decision, you're not only going to lose people, but you're going to signal that you can't move quickly on other decisions as well, whether or not this is really the case," he writes.

Some firms have begun turning to technology to help with hiring practices. In one recent case, social media company HootSuite used The Resumator in order to fill its open positions, Forbes reports.

Content provided by executive search organization, MRINetwork.

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