Time-to-Fill Has Increased 84% - Why It Matters
A report from Gartner reveals the consequences of hiring managers not acting fast enough and ways they can shift in the future to stop missing out on great talent.
Key facts from the report:
Decisive hiring managers hire 10% more high-quality candidates and 11% fewer low-quality candidates than typical hiring managers.
More than three-quarters of hiring managers today do not act decisively.
Organizations that drive decisive hiring manager behaviors reduce time-to-fill by 17%.
The amount of time it takes a hiring manager to make an offer after interviewing is 33 days — an 84% increase from 2010 to 2018.
This longer decision-making stage is causing a 16% reduction in candidates’ accepting offers.
Because hiring managers are taking longer to make a decision about a hire, they are losing out on top talent. You might interview a candidate who is highly interested in the job they are interviewing for at your company, but they'll take a job with your competition instead because they made an offer while your team waited on final approval and/or budget.
Gartner outlines three shifts recruiting executives and their teams can take to change how they partner with hiring managers and help them drive decisive behaviors to ultimately land top talent:
Diversify inputs to shape future talent needs
In an era of fast-evolving roles and skills, companies should not rely on the hiring manager alone to determine and articulate future talent needs. In fact, Gartner research found that only 31% of hiring managers understand the vision their business leader has for their team.
A better approach is to have recruiting leaders tap into sources beyond the hiring manager to define hiring needs based on the future talent strategy of the organization, not what the manager needs in the short term. Potential sources of information on future talent needs include business leaders, the workforce planning team and the analytics team, which can provide their insight into critical questions, including:
What skills does the business critically need to grow?
What skills and roles are the competitors in this area hiring for?
What will the labor market look like in this location in five years?
Make candidate engagement a shared priority
Hiring managers are not spending their time where it matters — engaging with candidates. This is critical as candidates trust a hiring manager nearly four times as much as they trust a recruiter to provide the information they need to make a decision. To get hiring managers to prioritize candidate engagement, the recruiting function should focus on:
Driving urgency for hiring being a shared responsibility
Motivating leaders by connecting hiring to their leadership role
Enabling hiring managers to easily source talent beyond their existing networks
Align the hiring decisions to expertise
In today’s matrixed work environment, hiring managers have lost direct insight into the roles for which they are hiring. Even with training on how to evaluate candidates, hiring managers are still making slow, poor decisions.
Leading companies recognize that the hiring manager should not be the default decision maker and they are focusing on identifying the best-fit decision maker. Determining the right person to make a hiring decision can be based on skills expertise, but also by understanding who will work closely with the person in the role and who has experience in evaluating candidates for the role. Organizations are finding that instead of the hiring manager making the final decision, skills and/or decision-making experts are often a better fit.