Four For Friday: The Most Important Recruiting Metrics in 2016

Four For Friday: The Most Important Recruiting Metrics in 2016

Michael Altiero

Recruiting Metrics in 2016Every Friday, The DDR shines a light on the best data-centric articles and resources from across the internet, social media, and industry.

2015 was a big year for data-driven recruiting and HR analytics. The importance of analytical decision-making in talent acquisition looks to have finally received mainstream attention. This momentum from last year will certainly carry over into 2016, as more and more research and studies are done on this subject.

One area in particular that has received a lot of attention is recruiting metrics. And one question is universally asked: Which metrics are most important to recruiting success? The articles in the first Four For Friday of 2016 provide answers to this question.

Quality of Hire Top Metric for 2016 (SHRM)

“The quality of hire measurement is the most valuable metric employers use to track their recruiting function, finds new research from LinkedIn.” Nearly 40% of talent acquisition managers from across the globe agree that it is the most important metric for performance. Other interesting findings from LinkedIn’s study include increased investment in employer branding and the use of employee referral programs. Learn more in Roy Maurer’s post on the SHRM blog.

4 Recruitment Metrics Every Company Needs To Measure (Coburg Banks)

James Ball, Founder and Owner of Coburg Banks, explains how recruiting has been transitioning from gut-based decision making to a more analytically driven approach. “Whilst you should never underestimate the importance of a candidate ‘feeling right’, analyzing key recruitment metrics has become a very important part of a modern HR team’s tasks,” says James. He then provides 4 important recruiting metrics your team needs to measure:

  1. Cost-Per-Hire
  2. Time-To-Hire
  3. Quality-Of-Hire
  4. Staff Retention & Turnover

5 Must-Have Metrics For Recruitment Success (Talent Culture)

“Like a stock market trader, the successful recruiter needs a balance of experience and data to land great talent,” says the Ian Cook, Director of Product Management for Visier. However, they say that HR and talent acquisition may be measuring the wrong metrics, which can do more harm than good. They provide the following 5 metrics that you should be tracking and why they are important:

  1. Qualified applicants-per-requisition
  2. Offer Acceptance Rate
  3. Resignations and involuntary turnover for less than 3 months service
  4. New hire performance by lead source
  5. Vacancy rate

Making Transactional Recruiting Metrics Transformational (Staffing Industry Analysts)

“Recruiting strategies should measure more than just the traditional metrics that have been around for decades. While these metrics are still essential (they provide a baseline and key starting point for a strategy), they don’t show the whole picture,” says Jim McCoy, VP of ManpowerGroup Solutions. Jim says that instead of focusing on transactional metrics and strategies, recruiting needs to create transformational ones instead. These 6 factors will help your team do just that:

  1. Flexibility
  2. Innovation
  3. Agility
  4. Multi-Speed Readiness
  5. Feedback Loops
  6. Governance

Learn more about each in Jim’s post on the Staffing Industry Analysts blog.

Interested in recruiting analytics and the future of big data in talent acquisition? Sign up for the Data Driven Recruiter blog.

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