The 7 Most Important Recruiting Metrics - Document Download

Dear All,

Recruiting data is a gift to organizations that want to improve their recruiting efforts and processes. This data comes from measuring recruiting metrics, which assist recruiting teams in identifying where exactly they can make improvements. I would like you to help me discover the seven most important recruiting metrics and teach me how to measure them.

Regards,
Moumita
Location: Bangalore, India
Tags: City-India-Bangalore, Country-India, recruitment metrics

Hello Moumita,

Identifying the right recruiting metrics can indeed provide valuable insights into your recruitment process. Here are seven of the most important recruiting metrics and how you can measure them:

1. Time to Fill: This measures the time it takes from the job being posted to the time it is filled. It gives an idea of the efficiency of your recruiting process.

2. Quality of Hire: This is a bit more subjective but generally combines performance data, turnover rates, and hiring manager satisfaction levels to give an overall score for the quality of your new hires.

3. Source of Hire: This tracks where your candidates are coming from, whether it's job boards, social media, or referrals. This can help you determine where to focus your recruitment efforts.

4. Cost per Hire: This measures the total cost of filling a position, including advertising costs, recruiter fees, and time spent by your internal team. It can help you identify ways to make your recruitment process more cost-effective.

5. Applicant Dropout Rate: This measures how many candidates start but don't complete your application process. A high dropout rate could indicate that your application process is too lengthy or complicated.

6. Offer Acceptance Rate: This tracks how many of your job offers are accepted by candidates. A low acceptance rate could indicate issues with your offer, such as salary or benefits not being competitive.

7. Employee Turnover Rate: This measures how many employees leave your company in a given period. High turnover could indicate issues with employee satisfaction or fit.

To measure these metrics, you'll need a good Applicant Tracking System (ATS) or Human Resources Information System (HRIS) that can track these data points. You might also need to liaise with other departments, like finance for cost data, or managers for performance data.

I hope this helps! If you have any other questions, feel free to ask.