Time to fill is, in literal translation, a term that conceptualizes the time to fill an opportunity within the company. It is a relevant metric, as it allows HR to understand the average time it takes to start and conclude a new contract – which can be constantly improved to be faster and more effective.
Did you open a new opportunity in your company? So don't post it on the communication channels, yet! First, take a few minutes to understand the importance of monitoring the time to fill.
Believe me: it will make all the difference for you to continuously qualify the selection process in your organization. All because this metric has to do with the time that your human resources specialists take from the first stage to the conclusion of a contract.
Do you want to know more about it? So, read on and start considering the time to fill among its main HR metrics!
What is time to fill?
The translation of the term in English can be something like “The time to fill a position”. In practice, this is exactly what happens.
The concept reflects the period between the approval of a job opportunity at the company and the “yes” of the candidate selected by the HR sector.
This alone helps to check the average time your company needs to replace a vacancy. If we are talking about a managerial position whose replacement in the short term is essential, a time to fill long can hurt the company, agree?
Just as a short cycle has everything to add more value to your brand. Less time for HR specialists, a positive experience for candidates and less time with low productivity as a result of the possible embezzlement of recently dismissed employees.
Time to fill X time to hire
It should be noted before proceeding that the time to fill is constantly confused with another elementary HR metric: time to hire.
All because they are similar – and even complementary -, but they are far from being the same thing. The time to hire, for example, consists exclusively of the time in which the chosen candidate, once the process has been completed, has been contracted minus the number of days since its application.
As we have seen, the time to fill encompasses a longer period of time. Basically, the entire cycle of a new admission to the company, which, consequently, expands the factors to be observed aiming at its constant qualification.
It is worth emphasizing, however, that both concepts are fundamental metrics that can be part of your HR report!
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Importance of time to fill
The importance of time to fill is linked to the time invested in hiring. As we said before, this can define a quick filling of the vacant position or ensure that the transition between a dismissed or retired employee is quick and goes without any unforeseen circumstances.
When this metric is added to the time to hire, for example, it is possible to observe the stages of the selection process that are most lacking and how much the job description for a job opportunity is aligned with the profile of professionals who apply for offers in your organization.
How to calculate the time to fill index
Just as the time to hire formula is simple to calculate, the time to fill it also does not require high skill with numbers. See below how to calculate the time to fill of your company:
TIME TO FILL = number of days between the opening of the selection process and the filling of the position in question.
Simple, right? What you can do to add more values to this index is to create a overall average of days taken to the company's opportunities. Then, just add the time to fill of each process and divide by the number of opportunities that are being taken into account.
Keep in mind, too, the possibility of monitor a time to fill for each type of position or department. After all, some areas may require more tests – and time, consequently – until the ideal candidate is defined. And this can interfere with the accuracy of the individualized metric.
How to reduce the company's time to fill
Now that we know what it is and the importance of time to fill, let's understand what the HR sector What can you do to bring about a gradual reduction in that time interval? Follow our tips below!
1 – Automate processes
Management software and also social networks, among other tools, can automate a series of tasks that wear out your team.
With this, through pre-defined data, these steps are carried out automatically, while its professionals can dedicate themselves to more analytical tasks – able to improve, even, the power of filtering and selection of candidates.
It is also good to remember that these complete management tools actively help in the construction of a curriculum database that can facilitate the search for the ideal candidate – imagine, having someone who has everything to do with the opportunity already in your curriculum base?
2 – Update the CV database
Complementary tip: if you don't constantly update your talent bank, you will hardly find good candidates there. Especially if your turnover is low.
Therefore, always try to find out about the situation of the professionals that your company really keeps an eye on (LinkedIn, for example, is a good tool for that). That way, in the face of a need, you can potentially reduce the time to fill.
3 – Map the profile of all positions
Each opportunity in the company requires a profile, certain skills and a specific posture and behavior. Upon learning of this, your HR manages to put together a complete job description and still has all the information at hand for carrying out a job. recruitment process flawless!
4 – Identify unnecessary steps in the selection process
Do all interviews need dynamics? Do all positions require a test of English, grammar and mathematics?
Evaluate all stages of the selection process and find out how to optimize it to the point of not making it excessively long or superficial. This is the secret to quickly identifying the best candidates for every opportunity in your company!
And, finally, an extra tip: are face-to-face interviews really necessary? Through online interviews, your team – and the candidate – can have more positive and quick experiences so that decision making and time to fill, be smaller!
Bet on the management software to optimize processes!
All your company needs to have a shorter time to fill and a well-planned selection process is the right tools to facilitate the HR work routine.
Meet the Human Resources platform and how it can help your company optimize the functions of the HR department. With the HR Consultant UK your company will have access to benefits such as:
- reduce the time in your employee dismissal admission processes;
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THE HR Consultant UK it is the only one that delivers an incredible experience and still solves the real problem that the customer has. Talk to an expert and find out how to reduce your HR costs by 30%.
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