Time to Hire
Date created: Mar 28, 2019 • Last updated: Sep 27, 2019
What is Time to Hire?
Time to Hire is the amount of time it takes a Human Resources team to hire a selected candidate. It measures the speed and efficiency of your HR team and can be an indicator of competition in the hiring market.
Formula
How to calculate
Sarah applies for a customer success position. Although many other applicants have been interviewed, Sarah continues through the hiring process and is identified as a candidate to which an offer will be made. She accepts the offer 10 days after having applied. Time to Hire = Accepted date - date having entered the pipeline = 10 days
Time to Hire
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What is a good Time to Hire benchmark?
Less than 10 days
More about this metric
A good way to measure the efficiency of a Human Resources Team is to look at how long it takes to hire a candidate. This metric can help you understand how well the team executes when the right candidate applies, including how quickly HR identifies them and how long it takes for the candidate to accept the offer.
This metric may also demonstrate if there's a bottleneck in your hiring process and how quickly your HR team moves when they find the right candidate for a position. Understanding deficiencies can help you make the right decisions to improve your hiring process.
Compared to Time to Fill, which can often be 45 days or more, you need to move fast, once you’ve identified your ideal candidate. Top talent does not remain on the market for long. Your process and the training and availability of your hiring managers needs to shine.