The UK talent market is the tightest it’s ever been, with unemployment falling to its lowest level of 3.7% in the first quarter of 2022, whilst the volume of job openings hit a new record of 1.3m in the same time period.
Reduced availability of talent combined with record breaking vacancies has had a monumental impact on recruitment – including the time it takes to hire talent.
In 2017, Glassdoor reported that the average time to hire in the UK was 27.5 days, compared with the global average of 23.7 days. In 2021, LinkedIn reported that the average time to hire in the US was 41 days – whilst they have not yet published the latest average for the UK, HR Leaders surveyed for Totaljobs’ Hiring Trends Index estimate that their average time to hire in Q4 of 2021 was 30.1 days, an increase of ½ a week from 2017.
So, how do you get that time to hire down, whilst also maintaining the rigour that a recruitment process needs to ensure the right talent is selected?
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