Time to hire and time to fill are two common recruiting metrics that you can use to measure the efficiency of your hiring process.
Though they may seem similar, and are often used interchangeably, they refer to different aspects of the hiring process.
Time to fill measures the time it takes from the moment a job opening is posted to when an offer is accepted by a candidate. This metric covers your entire recruiting process, including posting the job, sourcing, and screening candidates, conducting interviews, and extending an offer.
Time to hire measures the time it takes from the moment a candidate enters the recruiting process (applying for a job) to the moment they are officially hired and start working. This metric only considers the time spent on the actual hiring process, such as reviewing CVs, conducting interviews, negotiating compensation, and processing paperwork.
Although time to fill encompasses the entire recruitment process, while time to hire focuses solely on the actual hiring process, both metrics are important for understanding the efficiency of your hiring process and identifying areas for improvement.
Time to hire and time to fill can be influenced by several factors, including the availability of qualified candidates, the complexity of the job, the effectiveness of your recruitment process, and your decision-making process.
A shorter time to fill or time to hire can be an indicator of an efficient and effective hiring process, while a longer time to fill or time to hire can be a sign of issues such as a lack of suitable candidates or a slow decision-making process.
Exploring ways in which to improve your time to hire or time to fill? Read our 10 Top Tips to Improve Your Time to Hire. Alternatively, fill out the contact form below and we’ll get right back to you.