Four For Friday: Recruiting Metrics 101
One of the biggest challenges talent acquisition managers and teams face is figuring out which recruiting metrics they should measure. Tracking the wrong metrics can cripple a recruiting team and possibly ruin an analytical approach to talent acquisition.
So which metrics should your team measure? That’s a question that has many answers, but to get you started on the right path we have compiled a few articles that discuss various recruiting metrics. Welcome to Recruiting Metrics 101, the theme of this week’s Four For Friday.
One of the more polarizing recruiting metrics is time to fill. However, it is a metric that is here to stay. But as Bob Corlett, President of Staffing Advisors, explains, time to fill “encompasses too many factors to be a useful guide to action on its own.” Bob goes on to provide a few ways to make this metric useful:
- Break down what you are measuring—try measuring the following pieces of time to fill instead:
- Time To Market
- Time From Market To Slate
- Time From Slate To Hire
- Time From Hire To Fill
- Use metrics to plan your actions, not just report on them
Learn more about how to better use time to fill by reading Bob’s post on the HR Examiner blog.
Chuck Out Your Crappy Recruiter KPIs (Greg Savage)
“Now, let me be clear on this. I LOVE KPIs. I believe you can’t manage what you don’t measure. But I also believe the way recruiters have KPIs imposed on them is wrong, and often demotivating. And often the wrong stuff is being measured anyway, especially as the market changes the way it currently is,” says Greg Savage. This short video and blog post from Greg explains how to better use metrics in recruiting.
5 Recruiting Metrics Every Founder Should Track (Forbes Entrepreneurs)
“A good startup recruiting system is one that leads to great hires and gets more efficient each new hire,” says Keith Cline, Founder of VentureFizz. Keeping track of recruiting metrics is an important way to achieve this difficult goal. Keith provides the following five metrics you should focus on:
- Applicant source quality: Resumes-to-interviews
- Applicant interest: Proactive outreach-to-response
- Candidate-company fit: Interview-to-hire
- Closing the deal: Offer-to-acceptance
- Beating the competition: Time-to-hire
Learn more about each metric in Keith’s post on the Forbes Entrepreneurs blog.
6 Metrics to Measure ROI from Your Recruiting Program (Recruiting Blogs)
Looking to make improvements to your recruiting process? Measuring and analyzing key metrics is a great way to see what you are doing well and what needs work. This article from Recruiting Blogs provides the following six metrics that will help your team:
- Interviews Per Hire
- Cost Per Hire
- Performance Of New Hires
- Turnover Rate
- Candidate Satisfaction
- Quality Of Source
Check out the article to learn more about each metric.
Interested in recruiting analytics and the future of big data in talent acquisition? Sign up for the Data Driven Recruiter blog.