And Why It Is Meaningless!
We just finished our annual Healthcare Recruitment Metrics Benchmark Study. While demand for talent has skyrocketed over the last 6 months, our benchmarks year over year remained relatively consistent (FYI – I expect that to change this coming year).
So what was the Average TTF this year? 49 days (last year it was 48).
Average Time to Start? 67 days (66 last year).
That is across all job families for respected health systems around the country.
So why do I believe this metric is somewhat meaningless?
Because it doesn’t truly reflect what is going on within the organization (I wrote about this last year).
While average TTF is 49 days, 74% of all positions are being filled in 25 days! While the other 26% take 115 days to fill.
Think about that. For 3 out of every 4 hires, a typical recruitment organization is very fast. While the other 1 out of 4 times, it takes close to 4 months to fill a position!
These data points have been very consistent since we started tracking this 5 years ago and is one of the key underlining reasons why hiring manager perceive that positions aren’t filed “fast enough.”
The reality is . . . 76% of the time – we do it very fast. It is the other 24% that form their perceptions related to “speed.”
Now to be fair, many of these positions have a high cost of vacancy and are critical to the organization. So they should be concerned about speed. I will discuss HOW to reduce TTF for these positions in a future blog.
But to say that recruitment just doesn’t do things fast enough usually is an inaccurate, blanketed statement.
While I know most organizations want to track overall average TTF and TTS, I would encourage you to start isolating how well you perform across all job families and ensure managers understand the true story with respect to Speed.
If you are interested in our Benchmark study, and how you can use this data to manage client expectations and perceptions – let me know. We can be your advocate for change in your organization!