AIHR Learning Bite: What is Time to Hire?
Time to hire measures the time between the moment your prospective hire enters your pipeline through sourcing or application, and the moment they accept your job offer. This metric indicates how fast you’ve spotted your best candidate and moved them across the job’s pipeline.
To calculate time to hire, let’s call the day you opened a specific position ‘Day 1’. Then, if your best candidate accepted your job offer on Day 25, and they applied on Day 10, your time to hire is 25 minus 10, so 15.
The moment the best candidate applies, your hiring team should be ready to identify them. It’s always best to aim for the shortest time to hire possible.
To reduce your time to hire, start by identifying what causes it to be higher than you’d expect. You can get started by breaking down your hiring process, calculating time to hire per team, and training your hiring teams.
- Calculate time to hire per team and if there’s one particular team that inflated your average time to hire, talk to the hiring manager to discover the cause.
- Start training hiring teams.
- Build a talent pipeline ahead of time.
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Click here to read our in-depth article on recruitment metrics.