Time-to-Fill is the duration it takes to complete a job vacancy from the moment it's posted to the moment a candidate officially accepts the offer and starts working.
Measuring time-to-fill involves calculating the number of days or weeks it takes to move from the initial job posting to the candidate's acceptance of the offer. It's essentially the timeline from recruitment initiation to successful placement.
It provides insights into the efficiency of your recruitment process, helps in resource allocation, and aids in workforce planning. Additionally, it can identify bottlenecks and areas for improvement in your hiring process.
To find the average time-to-fill, add up the time-to-fill for multiple job openings and then divide by the number of job openings.
Time-to-hire measures the period between a candidate's first interaction with your organization (e.g., application submission) to the moment they formally accept the job offer. Time-to-fill tracks the period between the job posting and the candidate's acceptance.
Reducing time-to-fill often involves streamlining the recruitment process. This can be achieved by optimizing job posting strategies, using technology to automate administrative tasks and improving collaboration among the hiring team. Additionally, maintaining a talent pipeline and continuously assessing and refining your recruitment procedures can contribute to shorter time-to-fill periods.