This coincides with a record high number of job openings: there were nearly 5.8 million in July, up a million since July of last year. As more companies are hiring, there are fewer candidates available, which is making it difficult to hire candidates quickly.
Keeping tabs on the average time to fill can help you be a more strategic advisor to your organization. Armed with this data, you can align expectations with your hiring managers and executive team. They have likely noticed that it takes significantly longer to hire now than it has in the past, and it’s important to share average time to fill data so they understand that this happening across all organizations.
If your organization’s time to hire exceeds the average, you may have a good case to re-evaluate your recruitment process, budget or compensation practices. Your time to hire can cost you candidates, so you’ll want to make sure nothing is standing in your way of being a competitive employer.
You can also use this data to recommend using a direct hire agency. If it’s critical to make a hire in less than the average time to fill, or if you’ve been recruiting for longer than average, you may benefit from calling in a few agencies. There are many benefits to using direct hire agencies, including the following ways they reduce time to fill:
1. Find candidates faster
Direct hire agencies can help you find qualified candidates faster than you could find them on your own. They spend a significant part of their time finding, and developing relationships with, top talent and may have qualified candidates ready to go in their database.
They also have a good handle on where to source candidates specifically for your roles, so you know you’re looking at the best possible candidates on the market. Specialist recruitment agencies, in particular, have a thorough understanding about where to source candidates for your industry or job function.
Agency candidates come pre-screened, so you can get them in for an interview faster, rather than wasting precious time reviewing piles of resumes.
2. Keep candidates engaged
Agencies help you keep candidates engaged throughout the recruitment process. They help manage candidate expectations so the candidate knows your next steps and timing. In the event that you need to update your next steps or timing, they can communicate the changes with your candidate and gauge their reaction and continued interest.
They also keep tabs on where the candidate stands in terms of other interviews, so you know if you’re at risk of losing your top candidate to another offer.
3. Give a strong offer
Direct hire agencies help you put together competitive offers, so you can close your top choice candidates instead of having to start the recruitment process over if your top candidates decline. Agency recruiters will learn their candidate’s motivations and expectations, and can work with you to craft an offer that the candidate can’t refuse.
Agency recruiters will pre-close the candidate to gauge whether it’s an offer the candidate will accept and can help negotiate any final changes. They can also help you navigate any counter-offers by acting as a liaison between you and the candidate.
Each step of the recruitment process increases time to fill, and you certainly don’t want to start over from step one if you can help it.