Time-to-hire is a key recruitment metric that measures the duration it takes to complete the hiring process for a specific position. It typically begins when a job opening is first approved and ends when the selected candidate accepts the job offer.
Measuring time-to-hire involves calculating the number of days or weeks it takes to move from the initiation of the recruitment process (which begins when a candidate applies) to the candidate's acceptance of the job offer.
It helps organizations assess the efficiency of their recruitment process, identify bottlenecks, allocate resources effectively, and make data-driven decisions to enhance hiring practices.
To calculate the average time-to-hire, add up the time-to-hire for all job openings and divide by the number of job openings.
While time-to-hire measures the duration from the beginning of the recruitment process to the candidate's acceptance of the job offer, time-to-fill focuses on the period between posting a job vacancy and a candidate's acceptance. time-to-fill includes the time-to-hire metric but is more specific to the time it takes to fill a specific vacancy.
Reducing time-to-hire often involves streamlining the recruitment process. To do this, organizations can optimize job posting strategies, leverage technology to automate administrative tasks, , enhance collaboration among the hiring team, maintain a talent pipeline, and continuously evaluate and improve recruitment procedures. These actions collectively contribute to shorter time-to-hire periods.