The commitment that employees have toward their employers, and vice versa, is essential to accomplishing business goals while ensuring a healthy and productive workplace. Businesses can evaluate their time to fill and time to commitment metrics to streamline their hiring processes and fill open positions faster.
In this post, we’ll discuss how your business can improve hiring practices to help achieve your business goals and increase your new hire commitment.
New employee commitment is essential to establish a healthy company brand and a thriving culture where your employees can succeed and reach their potential. Some important metrics to keep track of as you dive into filling open positions are your company’s time to fill and time to commitment.
Below we’ll look at the difference between time-to-fill and time-to-commitment and how each metric will provide unique insights into your hiring process.
To calculate your company’s average time to fill, simply add up the days from your determined start point, such as the day the job was posted, to the day the candidate accepted the position, then divide by the number of jobs you’ve filled. This metric will lend valuable insights into how efficient your hiring process is. It’s important not to include positions that your company is always looking to fill. These positions will inflate your time to fill and mislead your hiring team.
Time to commitment is crucial when trying to fill entry-level jobs where qualified candidates are interested predominately in job security and salary. Therefore measuring your time to commitment, will shed light on bottlenecks in your hiring process. In a tight labor market, a controlled time to commitment can be the difference between filling open-positions and losing a quality candidate to a competing offer.
Thankfully the solutions to reduce your company’s time to fill and time to commitment are right here so you can reduce both efficiently. Below are some ways in which you can accomplish ideal time to fill and time to commitment metrics:
There are many ways in which a business may hit the ideal time to commit and time to fill metrics. But a successful business that wants to fill open-positions quickly will use a variety of these techniques.
At Crosschq, we find active employees that fit your culture and are to hit the ground running. Crosschq 360, Recruit candidate referral network, and data-driven Analytics will all help you establish a winning recruitment strategy that significantly reduces your time to fill and time to commitment.
To learn more about Crosschq, contact us to schedule a personalized demo.