What are the most relevant data points to track in recruiting analytics?

2 Quality of Hire

Quality of hire is the measure of how well a new hire meets or exceeds the expectations and requirements of the role and the organization. It reflects how effective your recruiting process is in attracting and selecting the best talent for your business goals. A higher quality of hire can increase your productivity, retention, and performance. Quality of hire can be assessed by various indicators, such as turnover rate, performance ratings, feedback, and goal achievement.

3 Source of Hire

Source of hire is the channel or platform that generates the most qualified and successful candidates for your vacancies. It reflects how efficient your recruiting process is in reaching and engaging your target talent pool. A better source of hire can reduce your time and cost per hire, and improve your employer brand. Source of hire can be tracked by various methods, such as referrals, job boards, social media, career sites, and recruitment agencies.

4 Diversity of Hire

Diversity of hire is the representation of different groups and dimensions of diversity in your workforce, such as gender, ethnicity, age, disability, and culture. It reflects how inclusive and equitable your recruiting process is in attracting and selecting talent from diverse backgrounds and perspectives. A more diverse hire can enhance your creativity, innovation, and customer satisfaction. Diversity of hire can be measured by various metrics, such as diversity ratios, diversity scores, and diversity indexes.

5 Cost of Hire

Cost of hire is the total amount of money spent on recruiting a new hire, including internal and external expenses. It reflects how economical and sustainable your recruiting process is, and how well you can allocate your resources. A lower cost of hire can improve your profitability, competitiveness, and return on investment. Cost of hire can be calculated by dividing the total recruiting expenses by the number of hires in a given period.

6 Candidate Satisfaction

Candidate satisfaction is the degree of satisfaction and engagement that candidates have with your recruiting process, from the first contact to the final outcome. It reflects how positive and memorable your candidate experience is, and how well you can build trust and loyalty with your talent pool. A higher candidate satisfaction can improve your employer brand, referrals, and retention. Candidate satisfaction can be evaluated by various methods, such as surveys, ratings, reviews, and net promoter score.