Time to hire

Time to hire is a key metric used in recruitment. It tracks the number of days between when a candidate applies for a job and when they accept the offer. This gives you insight into how efficient your hiring process is at two critical stages: attracting candidates and making your decision.

While time to hire is often used interchangeably with "time to fill," they can actually be treated as distinct metrics that provide different insights. Time to hire measures the time it takes from when a candidate first enters your recruitment pipeline (either through an application or sourcing) to when they accept your job offer. It shows how quickly you identify and move your best candidate through the hiring process.

To calculate time to hire, think of Day 1 as the day the job is posted. If your best candidate applied on Day 10 and accepted the offer on Day 30, your time to hire would be 15 days (30 - 10 = 20).

Reports from HR firms like The Josh Bersin Company and AMS show that the average time to hire has reached a new high - now averaging 44 days, one day longer than in 2022.

So, how can we improve time to hire? The key is efficiency. Here are a few areas to focus on:

• Intake meetings: Getting alignment with the team and hiring managers early on ensures everyone’s on the same page about the job's requirements.
• Job descriptions: Crafting a clear, concise job description will help attract the right candidates from the start. Be mindful of words that might inadvertently discourage candidates, as some terms can have hidden biases.
• Screening candidates: Screening takes up 63% of the hiring process, according to People Hum. You can save time by using AI-powered resume tools. Having a well-defined set of criteria for evaluating candidates will also speed up this step.
• Training hiring teams: Recruiters and hiring managers can improve their efficiency by receiving training in structured interviews and bias-free recruitment, helping them identify top candidates more quickly.
• Using templates: Customizing email templates for communicating with candidates will save you time on scheduling and responding to queries, helping reduce both time to hire and time to fill.

By improving these areas, you'll likely see a faster, more efficient recruitment process.