Executive search firm GlobalHunt MD Sunil Goel said “In start-ups and new age businesses, life moves very fast and scenario changes every fortnight and therefore it is important to show the result to the investors. So, it may not be viable to invest half of the time in recruiting,” To overcome this Now Job street has just got into fast lane with a new concept called ‘speed hiring’, wherein suitable candidates are filtered out in flat 12 minutes! Sounds Weird right!

Here we post how this ‘speed hiring’ concept is implemented and how the person is selected for a job.

What is the aim of Speed Hiring?

Aimed to ensure that the companies in new-age sectors like e-commerce and other startups spend less time in their recruitment processes, the HR managers have evolved this new hiring tool that is finding favour with firms like Snapdeal, Ola Cabs, Quikr, Foodpanda, Practo and WNS.

How the person is Selected?

Typically, ‘speed hiring’ involves candidates being tested for their cognitive abilities in just about 12 minutes and offer letters are given to the suitable candidates.

The Cognitive Ability Speed Test (CAST), developed by assessment platform CoCubes Technologies, carries 50 objective type questions on English grammar, ratios, percentage and inductive reasoning to assess the cognitive abilities of the candidates.

Experts view about Speed hiring

• CoCubes’ Co-founder and CEO Harpreet Singh Grover said, “While CAST is definitely more popular among start-ups with large-scale hiring, larger established companies like WNS and Allianz Cornhill are also using it”.
• Puneet Rathi, Head – Advisory & Knowledge, SHRM India said, ‘Speed hiring’ is catching attention of many recruiters for whom ‘time is money’ in today’s fast paced world, experts said. “In-demand talent doesn’t wait. Firms are beginning to realise that top performers lose interest if their hiring process is too slow and drawn out.”
• IT outsourcing firm GlobalLogic’ Associate Vice President (HR and L&D) Rajiv Naithani said, “Speed hiring at fresher level helps organisation in big way when companies are looking for immediate absorption of talent pool at junior level.”
• Saurabh Nigam, Vice President (HR) at e-commerce major Snapdeal, which used the CoCubes’ platform said, “In the last six months of implementation, with over 22,000 assessments, CAST has shown correlation of 81 per cent with offer ratio and has helped to provide a seamless experience for the candidates”.
• Chakraborty said,”Some of these industries are still recovering from the excess (and some obsolete) fat that had got accumulated in the middle layer on account of speed hiring,

‘Speed hiring’ is catching attention of many recruiters for whom ‘time is money’ in today’s fast paced world.