Time To Hire Calculator is simple and ready-to-use excel template to calculate Time To Hire HR metrics for a single and multiple employees for Time to Hire Calculator.
Time To Hire Metrics
Moreover, Time To Hire is number of days between a position opening up and signing a job contract by the candidate or accepting the offer.
So, It is used to evaluate efficiency of the recruitment process and also provides insights into which job position takes more time to fill.
Formula To Calculate Time To Hire
The formula to calculate Time To Hire are as follows:
Date Of Signing Contract – Date of job position is opened
If there are multiple job opening then it will calculate in the following way:
- Calculate number of days for each position.
- Add number of days for all positions.
- Divide the total of days by the number of positions.
Hire right Background Check Time
We have create a simple and ready-to-use excel template with predefine formulas for Time To Hire HR Metric.
You just need to enter dates and number of employees for the required position. It will automatically calculate the Time To Hire for a single as well as multiple employees.
Average Time to Hire
- Time To Hire For Single Employee
- Time To Hire Multiple Employees
1. Time To Hire For Single
Thus, time to hire is nothing but difference between date of an opened job posting and date of contract signing by candidate.
In this section, you just need to enter 3 things:
- Firstly, Job Title
- Secondly, The date on Which job posting opened up or approved by the management
- Thirdly, The date on which the employee accepted your offer or signed the contract.
That’s it. Applying given above given formula it will calculate the Time To Hire for that particular post for you.
2. Hiring Time for Multiple Employees
Moreover, When there are multiple job openings in company like a new start-up or the opening of a new department etc. then this section can be used.
There are 6 columns in this section:
Sr. No.: Job Posting Serial Number.
Job Post: The title of job posting.
No. of Posts: The number of posts for each job posting.
Date of Job Opened: Date on which job posting opened or approved by the management.
Date of Contract Signed: Date on which candidate signs the job contract/accepts the job offer.
Time To Hire Individual: This is TTH for an individual post. If there are multiple posts in single job posting then it will multiply it with that number.
Time to Hire Formulas
Total Number of Day / No. of Employees
This calculator will be helpful to HR Assistants, HR manager as well as HR professionals.
5 Important Things To Do To Reduce Time To Hire
- Determine staffing needs
- Try to reduce notice periods
- Recruit internally
- Write detailed job description including benefits
- Use application tracking Software