I agree with Ian. The ER series are a tool-holding collet normally expecting a shank to go all the way through. I think work should be long enough to do the same. When the holder is tightened, the collet is pulled into a taper which compresses it equally on to the shank. If the shank is too short, the collet collapses unequally, losing grip and tipping the work in the collet, causing poor run-out. Might even damage the collet.
I sometimes use a stub-mandrel to save metal, supergluing the blank to it, and detaching the job later with a blow-lamp. Superglued joints are remarkably strong apart from a sharp sideways blow.
Dave