Using social media to reduce time to fill The cost of recruiting is growing year-on-year.Īlthough there are more hiring platforms and options available, these come with additional costs – for example, social media recruiting. Whereas time to hire measures when a candidate enters the recruiting funnel.įor a full rundown on time to hire, check out the article “ What is Time-to-Hire.” Why is time to fill increasing recruiting costs? Time to fill measures the entire hiring cycle time. While sometimes used interchangeably, time to fill and time to hire are different. Time to fill is the time it takes between the job requisition and when a candidate accept the job offer. The tips below will help you lower the average time to fill a position and save costs when running your business.įirst, what is time to fill? What is time-to-fill? So, prolonging the hiring process means losing out on quality candidates and results in a waste of time, money and resources. For example, when a new requisition for a vacancy is opened and it takes months to fill, it not only wastes time, but it can also cost your business thousands of dollars. This is why it's important to reduce your time to hire to save costs in running your company.Ī deficient hiring practice doesn't just eat into your company time. This is the case both when using an in-house recruiting team or a temp agency.įor example, if you need to hire hourly workers, factors like paying to place adverts and diverting current employees' time to take part in the recruitment process add to the total outlay.

Hiring costs mount up really quickly and it can be very expensive for companies who need to hire for more than one position. According to the Society for Human Resource Management (SHRM), the average cost per hire of respondents from one survey is $4,129 per position.

Linkedin recruiter seat cost