High quality candidates are never stable. They are in and out of the market quickly. This is the very reason why, you need to increase your hiring speed so that you can claim all the quality candidates pronto! Simultaneously, the quality of hire also improves!
Of course, all the time goes in the screening and evaluation of the candidates, which is crucial. But, a slow hiring process is a colossal waste of time and a major distraction for the potential candidate.
How do we avoid this? Make smaller changes in your existing process to see a drastic decrease in time to hire.