Time to hire represents one of the key metrics in recruiting. It shows how much time an HR needs to fill in an open position with a suitable candidate. The question here is how quickly rather than how efficiently. Efficiency is a different subject, where the emphasis is on the quality of hire.
Time to fill is often regarded as a synonym for time to hire, which is a mistake. To make it clearer:
Usually, where there are metrics there are formulas, and this is no exception.
Time to hire = Day the candidate accepted the offer - day the candidate entered the pipeline.
Okay, that’s enough math for today, let’s get back to recruiting and how you can improve your time to hire.
It seems like the recruitment process has never been so complex as it is today. First of all, there are resumes, motivational letters, and other documents that applicants share with you. On top of it, there is always a temptation to include the latest tech - personality surveys, team resonance tests, social media checks, etc.
It became very easy to add more recruitment steps, but each of them increases the time to hire, sometimes significantly. All of that additional information needs to be processed, which again takes time.
It is great to have data-driven hiring, but on the other hand, always remember to calculate time to hire and try to optimize whenever possible. This is probably the easiest way to reduce your time to hire - don’t forget to cut your recruitment steps once in a while.
Your time to hire is in a tight relationship with the way the applicants perceive your company and the selection process. It might just happen that a perfect candidate for the position lost interest. Nobody likes waiting in long queues, so it’s not hard to understand how those applicants feel. Obviously, that’s something that you want to avoid happening.
It is, of course, easy to say that time to hire should be minimal. But, in most cases, it is out of your control. These days hiring is a team process, and getting the team consensus often takes time. There are external factors as well, like waiting for people to fill all the assessments you require.
It is simply not reasonable to expect that the candidates will promptly respond to each mail that requires them to fill one or another survey. Sometimes it takes days until the majority of your applicants finish a certain step.
So, what can you do instead? Keep the candidates interested through transparency. Make sure that through every step of the selection process, they know their application’s status.
Some recruitment tools can help you do this by creating temporal links for candidates. There, candidates can see where they are in the hiring process and understand what is going on. Don’t forget to post honest status updates for candidates.
For example, there is no shame in saying that hiring is delayed because a hiring manager is on vacation. On the contrary, this gives candidates a peek into the company culture and shows them that you are a real person, just like them.
Simple updates like in our example can help you earn the candidates’ trust and show them that the waiting is worthwhile.
Hopefully you’ve had a good read. Learned something new or gained a new idea for your business. Now, what are you waiting for? It’s time to hire!