A recent study by Oorwin, an AI-enabled ATS and Talent Intelligence Platform, found that the average time companies take to hire a candidate is 32 days. The study also revealed that the average time to reject a candidate is 16 days. To calculate the average time, the company used the time from the initial call with the candidate to the final approval or rejection time.
Today, over 1000 Enterprises and Recruitment Firms are using Oorwin to scale up their hiring process. Out of the millions of applicants tracked on the platform, the study considered a randomized sample set of about 12,200. Considering the sample set, at a 99% confidence interval, the time to confirm a candidate ranges between 29.8 to 35.6 days, while the time to reject a candidate ranges from 13.8 to 19.4 days.
According to Ravi Daparthi, President & CTO of Oorwin, “The study is a first of its kind and will help recruiters set realistic expectations in terms of time to fill a position. Companies often don’t plan ahead for future openings and end up rushing to take decisions at the very last minute. Considering that most candidates would have to serve about a month’s notice – we can safely say that companies should budget 2 months to get an employee onboard from first advertising the position.”
“It is also going to be beneficial as a benchmark to evaluate a recruiter’s performance. This is the first of many such studies that we plan to conduct. Our goal since inception has been to make the recruitment process better and more efficient – it’s just another step in that direction,” adds Daparthi.
Oorwin is an AI-powered recruitment platform that aims to transform the traditional practices in recruitment to improve quality of hire, increase recruiter productivity, and boost revenue. We bring all recruitment, HR, and staffing sales functions under one roof by integrating ATS, HRM and CRM into one intelligent platform designed to increase efficiency, collaboration, and transparency across the organization. Oorwin is also integrated with over 100 related productivity tools, job boards, accounting softwares and VMS tools – making it centerpiece in a recruiters software stack. Customers across the United States, India, Singapore and the United Kingdom are continuing to increase recruiter productivity, generate more sales, and improve employee satisfaction using Oorwin’s unique, intelligent and integrated platform. To learn more, visit www.oorwin.com.
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Story first published: Thursday, December 8, 2022, 10:34 [IST]