Reduce Time to Hire with GoodTime

It happens at every company. A job requisition is opened by a hiring manager, and months later the role still hasn’t been filled. The company has spent thousands in advertising, lots of time (and money) has been wasted, and now the hiring manager is angry with the recruiting team as the work is piling up.

SHRM’s latest benchmark report shows the average time to hire across across all industries and roles was 36 days (down from 42 days the year before). However, looking at the DEI vacancy trend we can see the average vacancy fill time has continued to get longer over time since 2010:

Why Are We Not Hiring Candidates Faster if We Have All These Tools and Technology?

With so much technology entering the recruiting space, you would expect our processes to be much more efficient and effective in 2019. Looking at the time-to-fill process broken down, the majority of the time is spent screening, interviewing and selecting candidates (56%).

The reason why the selection process continues to get longer is because companies are including more people in the process. And even though this puts a strain on interviewers and candidates, this is ultimately a good thing. Having diverse interview panels with multiple team members from different departments has proven to improve the quality of the workforce.

But in this candidate-driven job market, if companies want to succeed they need to rethink their interview process with their candidates in mind. OfficeVibe found that the ‘top candidates’ are off the market in just 10 days – a massive gap for most companies. If companies want to succeed in this candidate-driven job market, they need to modernize their interview process. This process needs to reflect an experience that candidates have come to expect from the way technology works in other industries: a consumer-like experience which is fast, fair, transparent, and culturally immersive.

How GoodTime’s Interview Logistics Platform has helped some of the world’s best brands reduce their Time to Hire while providing an amazing candidate experience

At GoodTime we are driven to make interviews efficient and effective for everyone. Our CEO went undercover as a recruiting coordinator to gain real-world insight into the major pain-points that is occuring in the interview process. What she found was that many companies were having recruiting coordinators spending upwards of 90% of their day scheduling interviews. In this high-stress environment, she herself was making mistakes such as booking meeting rooms that were already reserved, scheduling interviews over important meetings, and having to deal with interviewers cancelling 5 minutes before a candidate was coming on-site. The lightbulb moment came when she realized that even if a company had all the resources to invest in an army of recruiting coordinators to help speed up the scheduling process, companies would still fail their candidates with a poor interview experience.

GoodTime set out to create a best-in-class Interview Logistics Platform which includes the first candidate-driven interview scheduler. But reducing the time to schedule interviews with candidates is just the first step. We’ve worked with many companies to understand how we can make the entire interview process as efficient as possible. As we saw with Google, including more people to make a decision on a candidate is a good thing: But as more and more people enter this process, it can takes over a week to capture this feedback on candidate, leading to a longer time to hire and a poor candidate experience.

We developed features like Roundups that automatically schedules a debrief meeting after each interview with everyone that engaged with the candidate. This way, there is always timely feedback and dedicated time to discuss pros/cons of the candidate. Looking at SHRM’s Time to Fill chart, it takes companies on average five days to decide on a candidate. We want to dramatically lower this to ensure feedback is discussed as soon as an interview is completed so that the recruiting team can inform all candidates of their decision as soon as possible.

The Results

After analyzing years of data, we’ve found that candidates confirm interviews on average in just 4 hours through GoodTime’s candidate-driven scheduler. Compared to the traditional method of playing calendar tetris while you engage in email and phone tag, the average time it takes candidates to confirm this interview is over 2 days. This becomes a huge differentiator for companies as we help them get candidates into the hiring process as fast as possible, while also providing an amazing first impression.

After implementing GoodTime’s Interview Logistics Platform, companies of all sizes have seen enormous increases in efficiencies. Airbnb’s recruiting teams have seen increases in 5x the amount of interviews scheduled while standardizing their processes so they don’t have to track anything manually. Patreon had a huge issue with Time to Hire, and before GoodTime it took the company 76 days on average to fill an engineering role. After GoodTime, they’ve seen over a 50% decrease in Time to Hire.

Want to hear more stories about how we’ve helped companies we love? Our mission is making interviews effective, and we would love to speak with you to show you how we’ve helped companies like Box, Dropbox, and more make their interview process both more efficient and effective!

Learn More about GoodTime Schedule a Demo

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