Hiring managers need help finding talent. Nearly 9 in 10 (86%) say finding the right people is challenging1. A slow hiring process adds to this problem. Delays mean companies miss out on top candidates. They accept other offers or lose interest. This is where time to hire becomes key.
Time to hire measures how fast you move from receiving a job application–to the candidate accepting an offer. A shorter time to hire helps companies secure better talent than competitors do. Reducing this time improves the candidate experience. It also saves time and money in the hiring process.
This article will explain what time-to-hire is and why it matters. You will also learn ways to improve it.
What Is Time to Hire?
Time to hire measures how long a candidate can move from applying for a job to accepting an offer. This metric reflects how quickly a company processes job applicants. It starts when the candidate enters the pipeline and ends when they accept the position.
A quick time to hire shows an efficient recruitment process. When the process takes too long, companies may lose top candidates. They move on to other offers. Delays can be costly, with hiring costs averaging $4,700 per hire, according to the Society for Human Resource Management (SHRM). Monitoring time to hire helps companies identify slow points and improve efficiency.
Why Time to Hire Matters in Recruitment
The time to hire impacts both the company and the candidate. For companies, a shorter hiring time reduces costs and increases productivity. Long delays mean higher expenses and important roles stay empty. This creates stress for teams.
From the candidate’s view, long wait times can cause frustration. If the process drags on, they may withdraw or lose interest. Candidates prefer faster, smoother experiences. A shorter time to hire boosts the candidate’s perception of the company.
Reducing hiring time helps businesses save money, fill roles faster, and engage candidates.
Understanding Time to Hire vs. Time to Fill
| Aspect | Time to Hire | Time to Fill |
| Start Point | Starts when a candidate applies. | Starts when the job is posted or approved. |
| Focus | Focuses on candidate experience. | Covers the entire recruitment process. |
| Insights | Shows how fast candidates move through stages. | Shows efficiency of the full recruitment cycle. |
| Impact | Improves candidate experience in a shorter time. | Speeds up the overall recruitment process. |
| Measurement | Calculated from application date to offer acceptance. | Calculated from job posting to offer acceptance. |
Both metrics offer key insights for improving recruitment. Time to hire helps companies optimize the candidate experience, while time to fill ensures overall efficiency in hiring. By monitoring both, companies can balance speed with quality, attract top talent, and streamline their processes.
Definitions
- Time to hire measures how long a candidate can move from applying to accepting a job offer. It focuses on the time a candidate spends in the hiring process.
You can calculate the time to hire with this formula:
Time to Hire = Date Offer Accepted − Date Candidate Applied
- Time to fill measures when a job is posted or approved to when it is filled. It looks at the entire recruitment timeline.
You can calculate the time to fill with this formula:
Time to Fill = Date Offer Accepted − Date Job Posted
How Time to Hire Affects the Candidate Slate?
Time to hire plays a key role in shaping your candidate slate. A slow process can leave you with fewer options while moving too fast can impact quality. The balance between speed and the quality of candidates is essential in building the right slate.
What Is a Candidate Slate?
A candidate slate is a group of qualified candidates ready for interviews. Ideally, you gather several candidates before making a hiring decision. This allows you to compare and choose the best fit for the role. The slate gives hiring managers options and helps ensure a well-thought-out choice.
The Balance Between Speed and Quality
Moving too fast can hurt your ability to find the best talent. While 55% of candidates expect a job offer within two weeks of their first interview, rushing may lead to missing out on a strong candidate who applies later. Balancing the need for speed with ensuring quality is important. You must allow enough time to review and compare candidates.
The Importance of Waiting for a Full Slate
Hiring without a full slate may result in missing out on better talent. A full slate offers a wider selection and increases the chance of making the right hire. Waiting for enough candidates before deciding can lead to a more competitive pool. The average hiring process takes 36 days, so waiting a bit longer for a full slate may be worth ensuring you hire the right person.
When to Avoid Rushing Time to Hire
While you need to hire quickly, rushing can lead to poor choices. If you haven’t gathered a solid slate of candidates, it’s best to wait. Some roles require a more thoughtful approach, especially those needing specialized skills. Rushing the process may leave key positions underfilled or lead to a poor hire, costing you more time and money in the long run.
Average Time to Hire Benchmarks by Industry
The time to hire varies across industries. Different roles and requirements influence how long it takes to fill positions. Let’s look at how these times compare globally and within specific industries.
Global Time to Hire Averages
The actual time can vary depending on the job’s complexity and talent availability. While some industries manage to hire faster, others need more time to find the right fit.
Industry-Specific Time to Hire Averages
Some industries face longer hiring times due to specialized roles, while others can move more quickly. Here’s how time to hire breaks down across key sectors:
Technology & Engineering
In tech and engineering, the average time to hire is often longer, around 49 days. These industries require highly skilled workers, and the pool of qualified candidates is smaller. This makes the process take more time.
Energy & Defense
Hiring takes even longer for energy and defense roles, averaging 67 days. These industries demand highly specialized skills, extensive vetting, and often security clearances. All these factors slow down the time to hire.
What Factors Influence These Averages?
Several factors impact the time to hire in different industries. The level of required skills, the availability of candidates, and the complexity of the role all play a part. More specialized roles need more time to find the right person. Additionally, industries with rigorous vetting processes or security clearances tend to experience longer hiring times.
How to Measure Time to Hire
Measuring time to hire helps track how quickly you move from receiving applications to making job offers. It provides insight into the efficiency of your hiring process.
Time to Hire Formula
To calculate the time to hire, subtract the date the candidate applied from the date they accepted the job offer:
Time to Hire = Date Offer Accepted − Date Candidate Applied
This formula gives you the days to hire candidates from their first application.
Detailed Example of Calculation
Suppose a candidate applied on May 1st and accepted the job offer on May 20th. Using the formula:
Time to Hire = May 20 − May 1 = 19 days
It took 19 days to hire this candidate.
How to Calculate Average Time to Hire
To find your average time to hire, add the time to hire for all your recent hires and divide by the number of hires. For example:
If three hires took 10, 15, and 20 days, the average time to hire would be:
(10 + 15 + 20) ÷ 3 = 15 days
Your average time to hire is 15 days.
Five Proven Strategies to Reduce Time to Hire
Time to hire should be minimized since this enables companies to hire prime talents faster and make progress in the recruitment procedure. Here are five good suggestions that would help you do just that.
1. Track and Analyze Each Stage of the Recruitment Funnel
To shorten the hiring time, the first step is recording time for every phase in the recruitment process. Keep tabs on the length of sequential activities related to the process, such as time to review applications and schedule interviews. These figures will help you analyze these processes to find out what causes delays to arise.
2. Set Frame Goals for Each Recruitment Stage
Sets time targets on how much duration is reasonable for each phase in a recruitment process. For instance, set the least time for a stage such as reviewing CVs or booking interview sessions. Adherence to these time limits keeps the flow going and avoids unwarranted slippage.
3. Focus on Pre-Qualified Candidates
In addition, targeting pre-qualified people helps reduce wastage because a candidate pool is already filled with the individuals who fulfill the criteria you require. Improved applicant screening and job descriptions should lead to less time for weak or unqualified candidates.
4. Leverage Pre-Selection Tools and Assessments
Pre-screening measures such as asking questions or having an assessment should be utilized. Such tools enable the quick pick up of those with the capability; thus, their in-depth interview can only be conducted with reasonable candidates.
5. Utilize Technology to Automate Processes
When automation is utilized, time-consuming work such as sending mass emails, scheduling interviews, or application processing is easier to manage. However, implementing technology such as Applicant Tracking Systems (ATS) seems to optimize recruitment.
Common Pitfalls That Increase Time to Hire
Several factors can slow the hiring process, leading to a longer hiring time. Recognizing these pitfalls can help you avoid delays and improve efficiency.
Slow Interview Scheduling
Slow interview scheduling is a common cause of hiring delays. It often takes 30 minutes to 2 hours to schedule just one interview, as 67% of respondents report. When multiple people need to coordinate their availability, the process can drag out even more. Speeding up communication and organizing schedules efficiently can help reduce this time.
Too Many Interview Rounds
Having too many rounds of interviews slows hiring down. While multiple interviews help assess candidates, excessive rounds lead to longer waiting times and candidate drop-off.
Lack of Communication Between Teams
When HR, hiring managers, and recruiters don’t communicate well, the hiring time increases. Clear communication is vital to moving candidates through the pipeline quickly.
Manual Processes
Manual labor, which includes managing email communication and ceasing operations for scheduling tasks, requires time and heavy investment. These tasks can be done through smart technology.
Waiting for the Perfect Candidate
Holding out for the “perfect” candidate can delay decisions. While finding the right fit is important, waiting too long may cause you to miss good candidates.
Conclusion
Time to Fill is one of the most significant metrics regarding recruitment. Lessening this number would enhance employer branding, candidate experience, and more efficient hiring practices within a shorter time frame. The only way to make the HR process more cost-effective is to look for improvement in the shift of the recruitment stage regarding specific timelines, objectives, and appropriate methods and systems.
Talentino.ai makes it easy to reduce the time to hire. With advanced AI-driven tools, you can automate tasks, pre-screen candidates, and manage the entire recruitment funnel. Talentino.ai helps you hire faster without compromising quality.
Start improving your recruitment process today with Talentino.ai. Reduce your time to hire and find the right talent quicker.
FAQs
- How do you calculate the time to hire?
You calculate the time to hire by subtracting the date a candidate applied from the date they accepted the job offer. This shows how long it took to move the candidate through the hiring process. - What’s the difference between time to hire and time to fill?
Time to hire measures the days between when a candidate applies and accepts the offer. Time to fill measures the total time from when a job is posted to when it’s filled. - What is the significance of time to hire?
Time to hire reflects the speed and efficiency of your recruitment process. A shorter time to hire helps you secure top talent faster and improve the candidate experience. - What is a reasonable time to hire?
A reasonable time to hire depends on the industry, but the global average is around 24 days. It may take longer for specialized roles, but minimizing unnecessary delays is key. - What is the 70 hiring rule?
The 70 hiring rule suggests candidates are a good fit for hiring when they meet 70% of the job requirements. This rule helps avoid unnecessary delays in finding the “perfect” candidate. - What is the 90-day new hire rule?
The 90-day new hire rule evaluates a new employee’s performance within the first 90 days. This period is often seen as a trial to assess if the employee is a good fit for the company.
