What is Your Recruiting Firm’s Time-to-Fill Ratio?

You probably know the old axiom by heart: “Time kills all deals.”

It applies to just about every business situation, including those within the realm of recruiting. If the interviewing and hiring process drags on for too long, the chances of the company hiring one of your candidates becomes less likely.

With that in mind, we recently posted a poll question in the Members’ Area. That question is as follows:

What is the average time it takes for your firm to make a placement, from securing the job order to the candidate’s first day of work?

Results:

The choice of answers that we provided is listed below, along with the percentage of recruiters that selected each one:

• 1 to 25 days — 3.5%
• 26 to 50 days — 39.6%
• 51 to 75 days — 40.3%
• 76 to 100 days — 12.5%
• Over 100 days — 4.2%

Analysis:

It was a close race, that’s for sure. The time-to-fill ratio of “51 to 75 days” won with 40.3% of the vote. However, “26 to 50 days” was right behind at 39.6%. That’s less than a one percent difference between the two answers.

In third place was “76 to 100 days” at 12.5%. At both ends of the spectrum were “1 to 25 days” (3.5%) and “over 100 days” (4.2%). So with some simple mathematics, we can calculate that the overwhelming majority of successful placements by recruiters within Top Echelon Network (79.9%) take anywhere between 26 and 75 days.

Conclusion:

Do Network recruiters want their searches to take this long to complete? Of course they don’t! However, there are certain factors involved over which they have no control. Instead, they only have a certain amount of influence over them.

Kudos to those recruiters who have a time-to-fill ratio of 25 days or less. While they are in the minority, that’s an impressive average.

However, for the majority of placements made by recruiters in Top Echelon Network, at least one month is needed to complete them, and in some cases, it takes two months. Finding quality, qualified candidates is one of the reasons it’s taking this long to fill job orders.

That’s why it’s so important to rely upon your Network trading partners for the candidates you need. Not only will these candidates help you to fill your job orders, but they’ll also help you to fill them more quickly.

And everybody loves a better time-to-fill ratio!