What is Time-to-fill?
Time-to-fill is a metric which measures the average number of days it takes to fill a position, from job requisition to job acceptance.
Time-to-fill is a recruitment metric that measures the amount of time it takes for an organization to fill a job vacancy from the moment the position is opened to the point when a suitable candidate is hired and starts working. It is a key performance indicator (KPI) that provides insights into the efficiency and effectiveness of the recruitment process.
Time-to-fill is calculated by taking into account the number of days or weeks between the job opening date and the candidate's start date. It includes various stages of the recruitment process, such as job posting, sourcing candidates, screening and interviewing applicants, conducting background checks, negotiating offers, and onboarding.
A shorter time-to-fill is generally desirable for several reasons:
- Reduced Vacancy Costs: Vacant positions can lead to decreased productivity, increased workload for existing employees, and potential disruptions to business operations. By minimizing the time it takes to fill a vacancy, organizations can mitigate these costs and maintain optimal staffing levels.
- Competitive Advantage: In a competitive job market, talented candidates may receive multiple offers and have the flexibility to choose the most attractive opportunity. A shorter time-to-fill increases the chances of securing top talent before they accept offers from other organizations, giving the recruiting organization a competitive edge.
- Improved Candidate Experience: Lengthy and protracted recruitment processes can negatively impact the candidate experience. Candidates may lose interest, become frustrated, or accept other offers if the process takes too long. A streamlined and efficient time-to-fill enhances the overall candidate experience, improving the organization's employer brand and reputation.
- Time and Resource Efficiency: A lengthy time-to-fill can strain internal resources, including HR personnel and hiring managers who are involved in the recruitment process. By optimizing the time-to-fill, organizations can allocate their resources more effectively, reducing the burden on HR and ensuring a more efficient hiring process.
It's important to note that achieving a shorter time-to-fill should not compromise the quality of the hiring process. It is crucial to maintain thorough candidate screening, assessment, and selection procedures to ensure the right fit for the organization.