What is Time to Fill?
Time to fill is a metric that measures the amount of time it takes for a company to fill a job opening, from when the job is posted to when a new employee starts work. It is similar to time to hire, but it takes into account the entire recruitment process, including the time it takes for a candidate to accept an offer, complete onboarding, and start working.
This metric helps organizations to understand how much time they are spending on filling a position, and it can be used to identify areas where the recruitment process can be improved. A shorter time to fill can indicate a more efficient and effective recruitment process. In contrast, a long time to fill may tell a problem with sourcing, recruiting, or hiring.
Like time to hire, time to fill can also impact the employer brand; taking too long may discourage candidates from applying for or accepting job offers. Overall, time to fill is a key metric for measuring the effectiveness of the recruitment process and identifying areas for improvement. By tracking and analyzing the time to load, companies can optimize their recruitment process and increase the chances of attracting and hiring the best candidates for their open positions.
Why is time to fill important?
Time to fill is important for several reasons:
- Efficiency: A shorter time to fill indicates that a company’s recruitment process is efficient and streamlined. This means that the company can fill open positions quickly, reducing the costs associated with a vacant position and increasing productivity.
- Competitive Advantage: A shorter fill can also give a company a competitive advantage in attracting top candidates. Candidates often look for a quick and efficient hiring process, and a company that can provide that will be more attractive to them.
- Cost Savings: The longer it takes to fill a position, the more it can cost a company in terms of recruiting expenses, lost productivity, and other costs associated with a vacant position. A company can save money on these costs by reducing filling time.
- Employer Brand: A longer time to fill may indicate a poor candidate experience, which can hurt the company’s employer brand. This can discourage potential candidates from applying for or accepting job offers in the future.
- Identifying areas for improvement: Time to fill can help identify areas of the recruitment process that need improvement. If the time to fill is consistently longer than desired, it may indicate a problem with sourcing, recruiting, or the hiring process. By analyzing time to load, a company can pinpoint specific areas that need to be addressed to improve the recruitment process.
How do I measure time to fill?
To measure time to fill, you can track the duration from the job posted to the date a new employee starts work for each job opening. This data can then be used to calculate your company’s average time to fill. There are a few different ways to do this:
- Manual tracking: You can manually track the time to fill by recording the date the job is posted and the date the new employee starts work. You can then calculate the time to fill by subtracting the start date from the posting date.
- Automated tracking: Some Applicant Tracking Systems (ATS) can automatically track the time to fill. Integrating the ATS with other systems, such as HRIS or payroll, can be done.
- Spreadsheet: You can use a spreadsheet to track the time to fill. This can be done by creating a spreadsheet with columns for the job title, posting date, start date, and time to fill. You can then use formulas to calculate the time to fill automatically.