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- speed vs. process: the 10-day talent showdown 🏃♂️⚡️
speed vs. process: the 10-day talent showdown 🏃♂️⚡️
why your process could be sabotaging your success
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Happy Monday HR friends!👋
In today’s edition, we’re pondering “time to fill” and “time to hire” metrics?🧠
Which one is best for your company? Does it matter? Is it too fast? Too slow? And could the wrong focus metrics be skewing the success/failure of the whole process?
We hope today’s edition sparks some new ideas, and we’ll have more HR brain fuel at the start of next week !✨💪
PS. Do you have an open HR job role or something cool to share with 24,000 HR professionals? You can read more here on how we can help you do just that!
In Today’s Edition
🪄 The "Tric" With Hiring Metrics
🛋️ Can you speed up your hiring process without losing quality?
📚 Human Readsources: AI growth brings opportunities and inequality risks, Cost-of-living crisis impacts UK workers' jobs, Vail Resorts cuts HR jobs, restructures operations.
Top candidates go quick
Remember how fast Dwight got that new job at Staples!
In today's hyper-competitive talent market, a startling reality emerges: while the average position takes 44 days to fill, top candidates are typically off the market in just 10 days. This widening gap between availability and action is forcing companies to fundamentally rethink their recruiting metrics and strategies.
For talent acquisition leaders, this disconnect isn't just a numbers game – it's a strategic imperative that directly impacts business performance, team morale, and bottom-line results. The cost of a slow hiring process extends far beyond just lost candidates; it ripples through the entire organization in the form of decreased productivity, overworked teams, and missed business opportunities.
HR professionals find themselves at a critical crossroads, needing to balance comprehensive workforce planning with the urgency of streamlined recruitment processes. This is where understanding the nuanced difference between time-to-fill and time-to-hire metrics becomes not just useful, but essential for modern talent acquisition.
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🪄 The "Tric" With Hiring Metrics
Tracking recruitment metrics can feel like trying to solve a Rubik's cube blindfolded. And time-to-hire and time-to-fill serve totally different purposes. So using the wrong one is like measuring your coffee in kilometers.
Time-to-fill gives you the big picture from requisition to acceptance, while time-to-hire zeros in on how fast you move once candidates actually apply.
Here's why this matters: top talent is typically off the market within 10 days, but most companies are taking 44 days to fill positions. Yikes.
If you're focused on the wrong metric, you're probably losing amazing candidates while patting yourself on the back for hitting irrelevant benchmarks.
For your sanity (and success), use time-to-fill when you need to plan workforce strategies and budget for recruitment cycles. But when you're trying to snag those unicorn candidates before your competitors do, time-to-hire is your BFF.
Pro tip: Track both, but prioritize time-to-hire for high-impact roles where talent competition is fierce. Your future self (and hiring managers) will thank you.
🔗 Relevant links
👀 TLDR
TLDR: ⏰ Time-to-hire vs time-to-fill? Track both, but time-to-hire is your bestie for snagging top talent fast (they're gone in 10 days!) while time-to-fill helps with big picture planning. Know the difference, use them right!
⚡ Takeaway and Try
- 🚀 Implement a "10-Day Hiring Sprint" system where each role has a strict timeline with daily checkpoints. Create a streamlined workflow that prioritizes speed without sacrificing quality, including same-day feedback requirements and pre-scheduled interview slots. Track time-to-hire, candidate dropout rates, and hiring manager satisfaction to ensure effectiveness.
- ⏰ Launch a "Response Time Revolution" program requiring all candidate communications within 24 hours. Set up automated acknowledgment emails, calendar holds, and decision notifications to maintain momentum. Monitor candidate engagement rates, feedback scores, and acceptance rates to measure improvement.
- 📈 Create a "Hiring Efficiency Dashboard" that tracks both time-to-hire and quality-of-hire metrics for each position. Build a scorecard comparing speed versus performance ratings at 90 days, calculating the true cost of delayed hires. Measure retention rates, performance scores, and hiring manager satisfaction across different hiring timeline segments.
- 📱 Deploy a mobile-first "Quick Response System" allowing hiring managers to provide candidate feedback via smartphone app. Set up push notifications, simple rating scales, and voice-to-text comments to eliminate delays. Monitor hiring manager response times, decision-making speed, and overall process satisfaction.
☕ The Break Room: What's Your Take?
📊 Which hiring metric do you actually track and trust? |
📚 Human Readsources
🏢 AI Revolution Could Impact 40% of Global Jobs (The Economic Times) - AI market growth raises opportunities and concerns for global workforce.
⚖️ Cost of Living Crisis Cripples UK Worker Performance (HR Magazine) - Cost of living crisis severely impacts UK workers' job performance.
📊 Vail Resorts Cuts 64 HR Jobs in Efficiency Push (Vail Daily) - Vail Resorts cuts HR jobs amid efficiency transformation plan.
Thanks for reading to the end and we hope today’s edition sparked some new ideas for your workplace! 🧠
We know you’re super busy and really appreciate you letting us into your inbox a few times a week. 😀
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