Time-to-hire is a metric that measures the length of time it takes for a company to fill an open position, from the posting of the job to the acceptance of an offer. This metric is important because it can have a significant impact on a company’s bottom line. A long time-to-hire can lead to increased recruitment costs, lost productivity, and a poor candidate experience. In this article, we will discuss seven ways to improve your time-to-hire score.
A clear job advertisement
Having a clear understanding of the ideal candidate will help you to be specific in your job post and ensure that it is attractive to the right people. To make your job post effective, it should include:
- A detailed description of the requirements and necessary skills for the role
- Information on the specifics of the job, such as location or remote work arrangements
- An overview of your organization, including its values, culture, and history, to give potential candidates a sense of what it’s like to work there and why it would be a good opportunity.
Furthermore, the format of your job advertisement is just as important as the content. The design should be user-friendly and easy to navigate, with bullet points and lists making the information easily readable. With over 50% of job searching being done on mobile devices, it is essential to ensure that the advertisement is optimized for mobile viewing. This will ensure that candidates have all the information they need to apply and they can do it in a convenient way.
Streamline your recruitment process
One of the most effective ways to reduce time-to-hire is to streamline your recruitment process. This can be done by automating repetitive tasks, such as scheduling interviews and sending out offer letters, and by simplifying the application process for candidates. By reducing the number of steps and the time it takes to complete each step in the recruitment process, you can significantly reduce your time-to-hire.
Implement a referral program
Utilizing a referral program in the recruitment process can have a significant impact on time-to-hire. According to research, employees hired through referrals are brought on board 55% faster than those sourced through career sites. By utilizing an internal referral network, it’s possible that employees are aware of someone seeking to explore new opportunities. Encouraging colleagues to identify new hires or explore their networks for great candidates can increase buy-in among staff who see their importance as decision-makers in the company, as well as reduce the time-to-hire.
Referrals are an excellent way of finding outstanding talent swiftly because nobody will recommend someone they don’t believe can do a great job, as it will reflect poorly on them. This means that referrals are a reliable way of finding qualified and motivated candidates who are likely to excel in their roles.
Technology can play a big role in reducing time-to-hire. By using an applicant tracking system (ATS), you can automate many of the recruitment processes, such as resume screening and scheduling interviews, which can save a lot of time. Additionally, using video conferencing technology can make it easier to conduct remote interviews, which can also help to reduce time-to-hire.
Prioritize candidate experience:
A positive candidate experience is key to reducing time-to-hire. Candidates who have a good experience with a company are more likely to refer other candidates and will be more likely to accept an offer if one is made. To improve candidate experience, make sure to respond to candidates in a timely manner, provide feedback and keep them informed throughout the process.
Be flexible with your requirements
Sometimes, a long time to hire is caused by a lack of qualified candidates who meet all of the requirements for the job. To reduce time-to-hire, consider being flexible with your requirements. For example, if a candidate has most of the qualifications for the job but is missing one or two, it may be worth considering them for the position.
Build a talent pipeline
Building a talent pipeline is another effective way to reduce time-to-hire. This involves identifying and building relationships with potential candidates before you have an open position. By having a pool of qualified candidates that you can draw from when you have an opening, you can reduce the time it takes to fill the position.
Improving your time-to-hire score can have a significant impact on your company’s bottom line. By streamlining your recruitment process, using technology, prioritizing the candidate experience, being flexible with your requirements, and building a talent pipeline, you can reduce the time it takes to fill open positions and improve the overall efficiency of your recruitment process.