The UK job market continues to be a candidate-driven landscape. In this competitive environment, a speedy and efficient hiring process is crucial for attracting top talent. This newsletter dives into the current state of time-to-hire in the UK, exploring industry trends, key influencing factors, and strategies to optimise the recruitment process.

Time-to-Hire Snapshot

The average time-to-hire in the UK currently sits around 36 days according to Indeed. However, this figure can vary significantly depending on factors like industry and seniority. 

Industry Standards & Trends

• A Widening Gap: Research by the Josh Bersin Company in 2023 indicates a growing disparity between "easy-to-fill" and "difficult-to-fill" roles. While some positions might be filled within 2 weeks, others requiring specialised skills can remain vacant for months.
• Sector Spotlight: The same report highlights industries like Energy & Defence with the longest time-to-hire (over 67 days), followed by Professional Services (around 47 days). Construction, IT & Telecoms, and Transportation & Distribution are experiencing a hiring surge, with businesses planning increased recruitment in Q2 2024, according to a Totaljobs article.

Factors Influencing Time-to-Hire

• Skills Shortage: The UK currently faces a skills gap in several sectors, making it harder to find qualified candidates.
• Unclear Job Descriptions: Vague job descriptions can attract a large pool of irrelevant applications, extending the screening process.
• Lengthy Interview Processes: Multiple interview rounds with long turnaround times can deter top candidates who have other options.

Strategies to Optimise Time-to-Hire Process

• Streamline Your Process: Clearly define your ideal candidate profile and hiring timeline. Utilise applicant tracking systems (ATS) to automate repetitive tasks.
• Optimise Job Descriptions: Clearly outline required skills and experience to attract the right applicants.
• Prioritise Communication: Respond promptly to candidates at every stage of the process. Keep them informed about timelines and next steps.
• Embrace Technology: Consider virtual interviewing tools and pre-recorded video questions to expedite the initial screening phase.

However, there are several key benefits to ensuring a competitive time-to-hire in today's candidate-driven market:

Attract Top Talent:

• Speed is King: In a competitive market, top candidates often have multiple offers. A faster hiring process gives you an edge and increases the likelihood of securing the best talent before they accept another position.

Cost Savings:

• Reduced Costs: A longer hiring process translates to additional costs like advertising, screening, and interviewing. Streamlining your TTH minimises these expenses.

Improved Employer Brand:

• Positive Candidate Experience: A smooth and efficient hiring process creates a positive impression on candidates. This enhances your employer brand and attracts future talent.

Increased Productivity:

• Faster Filling of Roles: According to an article by Totaljobs, filling open positions quickly gets qualified people working and contributing to the organisation sooner. This reduces productivity gaps and keeps projects on track.

Enhanced Employee Retention:

• Reduced Risk of Drop-off: Candidates who wait a long time for a hiring decision might lose interest or accept another offer. A faster TTH reduces the risk of losing strong candidates during the process according to an article by Elevatus.

Improved Business Agility:

• Faster Response to Market Needs: A streamlined hiring process allows you to adapt to changing market conditions by filling new roles quickly. This agility can give your business a competitive advantage.

Overall Efficiency:

• Focus on Core Business: By optimising your TTH, you free up valuable time and resources for hiring managers. This allows them to focus on core business activities and strategic talent acquisition initiatives.

Conclusion

By understanding the current trends and implementing effective strategies, businesses can significantly improve their time-to-hire and secure top talent in this competitive market.