The rationale is that you are introducing a drug resistance marker into these cells and it takes a bit of time before the gene is expressed and sufficient amount of the enzyme is made in order to inactivate the antibiotic being used in the selection. So for example if your antibiotic is a protein synthesis inhibitor and you immediately plated your transformed cell on the antibiotic, you would inhibit protein synthesis needed to make the enzyme that would otherwise confer resistance.
For other drugs it might be less important (like beta-lactams). It is hard to define the optimal time needed because it will depend upon the strain and the growth conditions but for most E. coli strains at 37 deg C usually 45-60 min is sufficient.