This is how to effectively reduce the Time to Hire
The “Time to Hire” forms part of a business’s KPIs and is gaining in importance. But what, exactly, is behind all this? And how can the use of a modern applicant management solution positively influence these crucial key figures?
The extent to which the shortage of skilled workers is affecting businesses in all sectors is shown by a 2017 survey from the University of Bamberg. It states: “all of the Top 1000 companies in Germany are forecasting vacancies”. However, due to the tense status of the employment market, not all companies will succeed in filling these vacancies.
Skills shortage reduces company performance
This sustained lack of staff is not without consequences: The huge issues in gaining employees mean that businesses are confronted with poor company performance, resulting in low turnover. Time plays a crucial role here. The longer a business takes to fill a vacancy, the worse things are for its finances. The overall goal of many HR departments is to reduce the Time to Hire so that a business can be spared serious economic damage arising from long-term issues in filling vacancies. After all, only those who go out and gain the best talent have the opportunity to bring their own business to the fore.
Time to Hire: a definition
The “Time to Hire” forms part of a business’s KPIs and is gaining in importance. In essence, the Time to Hire describes the timespan between the initial search for staff and a successful recruitment. But how can this be reduced? After all, a qualified pre-selection of candidates takes time. Here’s the good news: with a few powerful tools in HR software, recruiters can significantly reduce their Time to Hire in this and other areas. This starts even at the initial stages of recruitment. For example, employers should make it as easy as possible for talented people to find out about them quickly and comprehensively. Businesses with a well-organised career page are at a clear advantage. They allow potential candidates to take a look into the company culture, making their decision on whether to apply for a vacancy easier.
Consider the requirements of mobile applicants
This saves valuable time at the start of a recruitment process and increases the chance of receiving a tailor-made application. This is true in any case if the vacancies, which can also be found on the portal, describe the role in question in as much detail as possible. This helps talents determine more easily whether a job would suit them, which in turn minimises the risk of candidates applying without any real knowledge of the role involved and HR having to cope with a large quantity of applications that don’t fit. All of this is time that can be saved! Another important factor is that both the career homepage and the vacancies have a responsive design. Otherwise, employers run the risk of intimidating mobile applicants if the career site and vacancies do not perfectly match the dimensions of the terminal device on which they are contacted. Too high a bounce rate can be fatal for an optimal Time to Hire.
How good HR software reduces the Time to Hire
Here’s the good news: Employers can make things easier on all these points using the Applicant Tracking System (ATS). For example, the Carerix applicant management system contains a career website and vacancies that point towards all these benefits. Simply link to the in-house system per interface. Done! In addition, candidates can also quickly and easily apply using One Click Application and use their fingertips to transfer the data from their LinkedIn or Xing profiles over to an employer applicant management system.
Prompt response to candidates
As soon as candidates have submitted their information, Recruiter will pick up the ball, ensure a smooth recruitment process, and promptly provide a reply to talents. After all, applicants who receive a confirmation email in good time assess the application process around 10-20% more positively on the whole than those who receive this feedback later, or not at all. This has emerged from the second part of the “Adventure Job Search” study by CareerBuilder and the Macromedia Hochschule Munich. As part of the study, 1465 candidates in Germany aged between 14 and 65 were surveyed. “In these times of e-commerce, applicants are expecting a certain level of comfort and particular standards in terms of online application processes. User friendliness along with fast application processes are part of this, as is the acknowledgement of online applications, says Karsten Borgmann, Managing Director of CareerBuilder. High-performance applicant management software can provide support here too: It not only automatically keeps recruiters informed of applications received, but also holds other refinements that guarantee an accelerated recruitment process. This means that communication with the candidates can be managed directly from the system once an application has been received. Talents receive immediate feedback on every open question.
Minimise the risk of incorrect staffing decisions
A further plus point: The HR department can forward the information entered regarding the talents to the line manager or the department responsible at the click of a button. Within the tool, all those involved can discuss who is eligible promptly and independently of time and location. This results in a considerable time advantage over the classic meeting. In order to minimise the risk of incorrect hiring decisions while retaining the shortest possible Time to Hire, the Thalento algorithms are a factor that can help with candidate pre-selection. Thalento is a global supplier of e-assessment and talent solutions. With the integration of Thalento® into the Carerix platform, users now have a high-performance, efficient range of pre-screening options relating to the competencies, behaviour, skills and motivation of candidates. For example, a range of cognitive tests are available:
- Scope test: Measures abstract logical thinking, to what extent an applicant independently processes information, makes links and recognises logical patterns.
- S test: Determines to what extent a talented person has the ability to process numerical information and make links.
- A test: Determines to what extent a candidate can process linguistic information and make links.
In addition, proficiency checks such as the PNO test can help determine which planning and organisational skills a talent has. An SNA test, meanwhile, provides an insight into how careful a candidate is. The results are available to users in transparent and easy-to-interpret reports. These can be used as a basis for making a decision, which goes hand-in-hand with a reduced Time to Hire and while remaining well-founded. A win-win situation on all fronts and the perfect foundation for mutual understanding.