Time to hire is one of the key recruiting and hiring metrics. Time to hire metric measures how quickly a company can select and hire the best candidate.
What is time-to-hire?
Time to hire is one of the key recruiting and hiring metrics.
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Time to hire metric measures how quickly a company can select and hire the best candidate.
Time to hire is the number of days passed since a candidate entered your pipeline until the day you hire a new employee.
Difference between time to hire and time to fill
Time to hire and time to fill are often used as synonyms, but this is wrong! Time to hire and time to fill are two different metrics which measure different things.
Time to fill answers the question: How long is your whole recruitment process, from creating a new job opening to hiring someone?
Time to hire answers the question: After you have candidates (sourced or applied) for a job opening, how many days does it take to hire someone?
Time to fill is the time of your whole hiring process, while time to hire is the duration of your selection process.
Thus, time to hire is always shorter than time to fill.
A formula for calculating the time to hire
Here is the formula to calculate your time-to-hire:
Average time to hire
A recent survey conducted by Spark Hire for their 2018 Growth Hiring Trends Report surveyed 500 talent acquisition professionals in the United States.
They found that:
- 49% of companies reported that it takes them 7 to 14 days from receipt of an application to offer letter was the norm,
- 24% of companies reported that it takes them 15 to 30 days to make a hire.
Learn more about time to hire
If you want to learn more about time to hire, check out our detailed guide: Recruitment Metrics: Time-to-hire .
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