Time-to-hire is one of the key recruiting and hiring metrics.
Time to fill metric measures how quickly a company can find and hire the best candidate. In a time of war for talent and low unemployment rates, many companies use this metric as their holy grail. Why is that?
There are 2 main reasons:
Did you know that a whopping 57% of job seekers lose interest in a job if the hiring process is lengthy
Most companies don't know the full cost of a bad hire, so they under-invest and do not apply the resources upfront to avoid one. By some estimations, the cost of hiring the wrong employee can add up to anywhere from 250,000 to almost a MILLION dollars. If you make a bad hire, there is a ripple effect among all who work for you, your product quality and company image.
With a strong economy and companies expanding, the skilled talent they need to grow is getting harder to find, especially within the eye care industry. The number of professionals who say they face recruiting challenges are surprisingly high:
A successful interview occurs when not only the candidate is well prepared for their interview, but when you are as well! Structured interviews are twice as effective in predicting how well an employee will do for you. A structured interview, unlike a free-flowing interview requires that you do your planning, both on the candidate and the position, and create a structured plan for your interview process.