The time required to fill a position has grown drastically in recent years on a global scale. This shift seems somewhat unexpected in regards to the current war for top talent, but each organization's time-to-hire is different based on a variety of factors involved in each of their different hiring systems.
According to a study by Glassdoor the time it takes for employers to hire is lengthening all over the world and slightly differs based on location.
The average overall job interview process from application to job offer takes 22.9 days in the U.S. But jobs in France, Germany and the United Kingdom each take an average of 4 to 9 days longer than in the United States and Canada.
A company's average time-to-fill a position can be found using this formula:
Time to fill = Total number of days of opened jobs / Total number of jobs
On the one hand, organizations want to screen job candidates carefully in order to find the best match for an open position while reducing the possibility of making a bad hire. On the other hand, they want to fill the opening as quickly as possible.
Many factors go into the lengthening hiring process including an organization's city or location, company size, job title and the various 'screens' candidates have to go through before reaching a job offer.
"There are 86,400 seconds in a day. It's up to you to decide what to do with them" - Jimmy V (American college basketball player, coach and broadcaster)..
We all make poor decisions when it comes to managing our time, so here's a list of 7 alternative activities you could do in the same time it takes the average U.S. employer to fill a position:
- Attend six three-day conferences
- Attend 23 webinars (~1 per day)
- See 44 product demos (2 per day)
- Respond to 6588 unanswered emails (five minutes per email)
- Go on three 1-week vacations
- Run 11 marathons (if you're feeling ambitious)
- Meditate everyday for three weeks
Bring method to the madness
Organizations are making the best hiring decisions they can, but often do not have the necessary resources to make the best possible decision in a timely manner. According to Glassdoor, all of the recent lengthening of hiring processes appear to be driven entirely by economy-wide shifts in the composition of employers, job titles, hiring industries, and company HR policies.
While most factors that contribute to the lengthy hiring process are beyond the control of job seekers and employers, it's important to take the time to understand your organization's unique time-to-hire in order to continue to take the right steps towards making better hiring decisions.
Each candidate's journey is different, but most candidates end up applying to a job on an employer's career site. Employers should make sure that their career site is the destination for candidates to find out why they should want to work for you.
Model your career site content to speak specifically to your ideal candidates in order to rule out candidates that don't fit the bill and to encourage candidates who would be a good match, that they should want to work for you.
Make efforts to constantly organize and streamline your hiring system to keep track of potential candidates, so you can make the best hiring decisions possible.
Want to know how you can position your career site and related talent acquisition efforts to earn your candidates' attention and trust? Download our free e-book below.