Reducing Time-to-Hire: Effective Strategies for Faster Recruitment
Recruitment is more complex than it seems. It’s not just about interviewing candidates and picking the best fit. It’s about using effective recruitment strategies from the moment you open a position to when you onboard a new employee.
Many companies measure the time-to-hire—the duration from job posting to offer acceptance. Why is this important? Every day a position remains open, it costs your business. Existing staff pick up additional work and recruitment itself is expensive. Accelerating this process can save you time and money.
In this blog, we’ll discuss everything you need to know about time-to-hire and why hiring a manpower agency in the Philippines can speed up the process.
What is Time-to-Hire?
Time-to-hire is a recruitment metric that measures the number of days between when a candidate first enters your talent pool and when they accept a job offer. The formula for time-to-hire is as follows:
Day the candidate accepted your job offer – day the candidate entered your talent pool = Time-to-hire
Let’s say you opened a position on Day 1. A candidate applied for it on Day 3 and accepted your offer on Day 15. Therefore, your time-to-hire is 12. There’s no standard time-to-hire but note that quality candidates are often off the market in 10 days.
A shorter time-to-hire suggests a smooth recruitment process—it creates a positive candidate experience, reduces costs, and helps you secure top candidates before your competitors. On the other hand, a longer time-to-hire indicates potential inefficiencies or bottlenecks, leading to lost talent.
Time-to-hire is often interchanged with time-to-fill but they’re considerably different. The former focuses on how efficiently you identify and hire the top candidate. Meanwhile, time-to-fill measures the speed of the entire recruitment process, from the moment you open a job position (even before it’s published) and continues until the position is filled.
Factors Affecting Time-to-Hire
While you want to fill a position quickly, many factors can influence how long it takes to hire an employee. Some of them are the following.
● Job market conditions The overall economic climate and competition for talent in your industry can significantly impact the time-to-hire. A tight labor market with a high demand for specific skills can extend the hiring process.
● Company’s recruitment processes The efficiency and effectiveness of your internal recruitment processes are crucial. Lengthy approval processes, multiple rounds of interviews, or outdated hiring technologies can slow things down.
● Candidate availability and responsiveness The pool of qualified candidates and their willingness to engage in your hiring process can affect time-to-hire. A shortage of skilled candidates or slow responses from applicants can lengthen the recruitment timeline.
Strategies to Reduce Time-to-Hire
While some hiring challenges are beyond your control, you can still significantly reduce your time-to-hire. Here are some recruitment process optimization strategies you can adopt.
● Optimize job descriptions
Studies show that 42% of employers had to rewrite their job posts due to a flood of unqualified applicants. This figure highlights the importance of posting clear and concise job descriptions.
Before advertising an open position, clearly outline the key responsibilities, qualifications, and expectations to ensure candidates understand the role. Avoid jargon and be specific about what’s essential versus desirable in terms of skills and experience.
For example, instead of saying “good communication skills,” specify “ability to communicate technical information clearly to non-technical stakeholders.”
● Leverage technology
If you want to hire quickly, make technology your best friend. You can use applicant tracking systems to automatically sort resumes and schedule interviews. You can also meet candidates via video conferencing apps to save time and resources.
Additionally, consider using programs for cloud document management and virtual signatures to make it easier for candidates to submit requirements and eventually sign their job offer and contract.
● Streamline the interview process
Just like you wouldn’t want to spend hours queuing at the grocery or bank, candidates appreciate a speedy hiring process. In fact, 78% of them might drop out or think about dropping out if the process is too long or complicated.
Instead of multiple rounds with different teams, consider consolidating interviews to include all relevant stakeholders at once. For example, conduct a panel interview with HR, the hiring manager, and a senior team member to make a quick, informed decision.
You can also train interviewers to focus on asking relevant questions and maintain structure and punctuality.
● Maintain a talent pool
Don’t throw away resumes as soon as you find ideal employees. You can contact previously shortlisted candidates to save yourself from sorting through new resumes and interviewing new faces.
Nurturing relationships with past applicants or passive candidates can reduce the time you spend on sourcing when a vacancy opens. It also ensures you have qualified candidates ready to consider new opportunities.
● Work with recruitment agencies
If you don’t have the time or staff to focus on recruitment, consider working with a recruitment agency instead.
They have a broad network of pre-screened candidates and understand the specific needs of your industry. They can also quickly match you with qualified candidates, saving you the time and effort of sourcing and initial screening.
How Staffhouse Recruitment Agencies Can Help in Reducing Time-to-Hire
Staffhouse International Resources specializes in streamlining the recruitment process, helping you fill positions faster and more efficiently. With access to a vast database of pre-screened, qualified candidates, we can quickly match you with the right talent.
We also use the latest recruitment technologies, automating tasks like candidate sourcing and communication to save valuable time. We can be your reliable partner in reducing your time-to-hire, ensuring you secure top talent before your competitors do.
Accelerate Your Hiring Process with Staffhouse Recruitment Agency
Don’t let a prolonged hiring process hinder your business growth. Staffhouse offers expert solutions to expedite your talent acquisition. Our team specializes in identifying top-tier candidates swiftly, utilizing advanced recruitment technologies and a deep understanding of the Austrian job market.
Ready to streamline your hiring process?
Contact us today to discuss your recruitment needs and discover how we can help you find the perfect candidates faster.
