28 days. That’s the average length of the hiring process. Or your typical time-to-hire.
Taking too long to fill openings means missing out on potential candidates, not to mention the increasing cost per hire. Experienced hiring managers leave no stones unturned to reduce time to hire as they're aware of risking top talent acquisition. It's worth noting - time to fill and time to hire are not the same metrics.
Time-to-fill answers, "How long until you fill a new opening from start to finish?"
Time-to-hire answers, “How long until you hire someone after he/she has applied for the opening?
A job description may be open for several weeks before a candidate applies. And so, 'time to fill' is usually greater than the average 'time to hire'. Even though its effect on your business profit margin might not be as clear, it's beneficial to reduce time to hire - in order to increase recruiting efficiency, minimize expenses, and produce a better candidate experience.
Measuring time to hire is no easy feat, but once you have the data, you can determine what needs to improve.
Essential Reading: The Recruitment Process Guide for Quick and Effective Hiring
How to Reduce Time to Hire in 10 Effective Ways
1. Outline a structured hiring plan
Hiring a candidate entails knowing what you require in the long run. If a recruiting strategy is not in place, recruiters might find themselves in the middle of sweet nothings. One tends to set a weaker base for their recruitment process without a structured plan. So, sketch out a roadmap of your strategic recruitment to reduce time to hire. This plan may include:
- One, the objectives of your recruitment.
- Second, the qualities of the ideal candidate for workforce planning.
- Third, your value proposition and marketing approach to source candidates.
- Next, your company's decision-making and onboarding procedure.
- The use of technology by choosing a recruitment management system. And finally,
- Your budget for the recruitment.
2. Optimize your sourcing channels
Most recruiters have a preferred method of locating applicants. More than half of respondents (52%) go to their professional network first, while another 28% go to LinkedIn first (Lever). The most typical approaches for candidate sourcing are popular for a reason – they work! – but don't forget to include some lesser-known sources.
Candidates may be more open to outreach messages on nontraditional websites, and profiles on such sites might generate unique data that can be used for personalised outreach. The idea is to gain a better understanding of your target applicants so you can predict where they will be found online. If you're new to job hunting, enlist the help of your coworkers to figure out where to look. Ask them things like:
- Where would you begin a search for this position from the perspective of someone who has been immersed in this domain for some time?
- Where might this group of people be active?
- What companies specialise in similar technologies, products, or services?
Another puzzling quest to find an answer to: Remote Hiring or how to hire someone you've never met in person!
3. Reduce time to hire by understanding your data
For starters, recruiters may be able to reduce time to hire by gathering the right data. This indicates how quickly you identified and advanced your potential candidate through the recruitment funnel.
Let's name the day you opened a specific position "Day 1" for the sake of calculating the time to hire formula. If your candidate applied on Day 1 and accepted your job offer on Day 30, your time to hire will be 30-15, i.e. 15.
To reduce time to hire, begin by identifying the areas of recruitment that are taking longer than expected. Below is a survey report by Yello which highlights the average duration for each stage in an effective recruitment process.
A good alternative would be to automate manual tasks in the process. For instance; our client Ardy Alam - CEO of Garasi.Id, spoke to peopleHum about its "ability to track the process of candidates right from screening resumes, recording interview tests scores for each candidate, ....and being able to leave comments as feedback after each interview". This is then passed onto the next interviewer, aiding in collective decision-making and finally the offer process.
Also Read: Do you trust your gut feeling in hiring process? Maybe stop
4. Prioritise and practise targeted recruitment
Learning how to use Boolean search as a candidate sourcing strategy can be an alternative tactic for candidate sourcing. Recruiters utilise Boolean searches to comb the internet for niche candidate profiles. Boolean search is a type of search that produces relevant results by combining desired keywords with operators like AND, NOT, and OR. It's based on a hypothesis where every variable is either true or untrue.
Begin your quest at home with your silver and bronze medalists - those who failed to pass the first time around. To put it in context, an average corporate position attracts 250 applicants, of whom you will hire one, leaving 249 unsuccessful but interested candidates for future appointments. You can apply the emerging method of text recruiting to reach out to these candidates.
Also, here are some of the top recruitment myths we'd like to bust
5. Focus on building an effective talent pipeline
A well-built talent pipeline strangles the worries of advertising a job opening, grunt work of candidate sourcing and infinite background checks. As illustrated in the report, posting new jobs take about 40% of the time. Building a talent pipeline eliminates the wait, thereby reducing time to hire. Automation of sourcing gives your recruiting strategy a further push.
For instance, when we integrated our Hire module with Green Africa; as per the talent manager, recruitment automation was much preferred instead of "posting jobs online yourself." It becomes much easier to "have the candidates come to you and having the power to say - I don't need to open every CV that comes to me. I can just see it from the (peopleHum) dashboard."
6. Leverage a referral system to promote from within
Referral systems help locate candidates from within an organization's employee networks, as well as speed up the recruitment process and reduce time to hire. One of the most important hacks of an employee referral programme targeted at attracting qualified candidates is offering a referral bonus. Cash rewards, prize rewards, and vacation rewards are some of the most often used referral rewards by businesses today.
Additional resource: Leverage a handful of top recruiting resources to hire better in 2022!
7. Redesign your employer brand and career page
Candidates often visit the career section of your website at least twice during the hiring process: once when they learn about your job opportunity and again when they are contemplating your job offer. This number can certainly be more than twice. If your career website does not persuade candidates to apply for your jobs, they might either decide against applying or reject the offer.
Similarly, your social media presence gives you the identity of a reputed employer. Enhance your social media engagement so that you have an active and positive presence on popular social channels. Look out for the views of recruitment thought leaders who have been sharing ideas on topics similar to employer branding.
Candidates nowadays scan the profiles of their employers to determine positive or negative sentiments about the brand. For instance, our system sends a candidate survey to measure the candidate's net promoter score (NPS), i.e. a gauge of how job seekers felt about their experience with your hiring process, how they were handled, and so forth. This creates a smooth workflow of candidate engagement, further promoting your talent brand.
8. Invest in a good application tracking system (ATS)
About 75-88% of resumes received are unqualified for the position. Screening candidates consume the most time in a recruitment process as seen in Yello's report. 94% of recruiters say the ROI of ATS has positively impacted their hiring process, as per a survey on Capterra.
The truth about application tracking systems is that the entire process is completed in rather seconds. It eliminates the need to manually upload and advertise openings on job boards, without having you screen the unnecessary applications in the application process.
9. Collaborate and partner with hiring managers
Recruiters and hiring managers must educate one another in order to allow speedier collaboration, leveraging their knowledge to provide solution to top recruiting challenges. Examine current procedures in detail and identify possibilities for improvement. For instance, if a job remains open for two, four, or six months, how important is the position to the company?
To reduce time to hire, get more people involved in the hiring process with calendar availability being shared. Embracing team-based recruitment implies that, depending on their availability, colleagues might take on responsibility for specific aspects of the process. This way, you can also eliminate a bunch of hiring biases and save a lot of time hiring if the processes are well integrated.
10. Make the application process easier
According to Careerbuilder, 20% of applicants abandon application forms that take more than 10 minutes to complete.
With the rise of hybrid recruiting, candidates do not want to go through lengthy and laborious application processes. Candidates bank on recruiters to go through their resumes and limit the remaining fields to pertinent, application-related information that isn't included in their CVs. When it comes to application forms, they also tend to aim for flexibility to fill their applications via mobile phones.
Time to hire is among the top recruitment metrics to track for organizations that are losing productivity and revenue for every day a position remains open. A smart choice would be to generate a steady stream of qualified candidate referrals with the help of an ideal recruiting software, further reducing the requirement for cold calls. It helps you to assess a candidate's cultural fit long before the first interview process.
Now that you know how to reduce time to hire, check out peopleHum's integrated recruitment software that assists employers in keeping track of candidates at various phases of the process, with a modern applicant tracking system (ATS) and much more. We streamline the entire, end-to-end recruiting process. Come have a look at our free demo to optimize the recruitment process and enhance the candidate experience.