What data and analytics do you use to improve recruiting outcomes?

1 Hiring funnel metrics

The hiring funnel is the sequence of steps that candidates go through from applying to getting hired. By tracking and analyzing metrics such as application rate, screening rate, interview rate, offer rate, and acceptance rate, you can identify where the bottlenecks and drop-offs are in your hiring process. You can also compare these metrics across different sources, channels, roles, and teams to see what works best and what needs improvement. Hiring funnel metrics can help you optimize your recruitment strategy, reduce time to hire, and increase quality of hire.

2 Candidate experience metrics

Candidate experience is the perception and satisfaction of candidates with your hiring process. It can affect your employer brand, your referral rate, and your retention rate. To measure and improve candidate experience, you can use metrics such as candidate net promoter score (NPS), candidate satisfaction score (CSAT), and candidate effort score (CES). These metrics are based on surveys that ask candidates to rate their likelihood to recommend, their satisfaction, and their ease of applying for your jobs. Candidate experience metrics can help you enhance your communication, feedback, and transparency with candidates, and build long-term relationships with them.

3 Diversity and inclusion metrics

Diversity and inclusion are not only ethical and social goals, but also business goals. Research shows that diverse and inclusive teams are more innovative, productive, and profitable. To promote and assess diversity and inclusion in your hiring process, you can use metrics such as diversity hiring rate, diversity representation, diversity retention rate, and inclusion index. These metrics are based on data such as demographics, turnover, engagement, and belonging. Diversity and inclusion metrics can help you identify and address any biases, gaps, or barriers in your recruitment practices, and create a more diverse and inclusive culture.

4 Recruiter performance metrics

Recruiter performance is the effectiveness and efficiency of recruiters in achieving their hiring goals. It can impact your hiring quality, speed, and cost. To evaluate and improve recruiter performance, you can use metrics such as time to fill, cost per hire, quality of hire, and recruiter productivity. These metrics are based on data such as hiring duration, hiring expenses, hiring outcomes, and hiring activities. Recruiter performance metrics can help you set realistic and measurable targets, allocate resources, reward achievements, and provide feedback.

5 Talent pool metrics

Talent pool is the collection of potential candidates that you have sourced, engaged, or nurtured for your current or future hiring needs. It can help you reduce your dependency on external sources, increase your talent pipeline, and shorten your hiring cycle. To manage and optimize your talent pool, you can use metrics such as talent pool size, talent pool quality, talent pool engagement, and talent pool conversion. These metrics are based on data such as number of candidates, skills and qualifications, interactions and responses, and hires from the pool. Talent pool metrics can help you segment, target, and communicate with your candidates, and keep them interested and ready for your opportunities.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?