Key Performance Indicators For Internal Recruitment
Joseph Henry
Recruiting Insurance and Public Policy professional across the UK and US marketplaces. Founder of RecSurance.
Understanding the impact you are having as a Recruiter is important for any In-House Recruiter. Especially if you are the first In-House Recruiter.?
Tracking and measuring your KPIs will give you the ability to demonstrate your value and understand what is going right and what is going wrong in a Recruitment process.
There are a range of key performance indicators for internal Recruiters.
Internal Recruiter Key Performance Indicators
Time-to-hire: How long does a role take to fill from sign-off to offer acceptance by the candidate?
Cost-per-hire: How much does the Recruitment department spend per candidate hired into the company?
Time-to-interview: How long it took to go from sign-off on a new vacancy to the first interview being conducted.
Offer-to-Acceptance ratio: How many offers are made versus how many are accepted.
Acceptance-to-Probation pass ratio: The number of people passing probation versus the period starting at the company.
Applications-per-job: How many candidates apply for roles with the company?
Interview-to-offer ratio: - How many interview candidates does it take to get an offer?
Each of these KPIs will tell you different things about how your Recruitment processes and campaigns are operating
The big three Key Performance Indicators that all internal Recruiters should track are:
These are going to affect the main business in the following ways:?
Other Key Performance Indicators?
The above KPIs are the ‘core KPIs’ that are focused on the Recruitment process as it walks through the different stages of the Recruitment process.
However, as you progress you add additional indicators
Candidate Performance Indicators
Length of service by application source - How long the candidate has been working at the company/organisation?
Probation success rate by application source: Percentage of candidates pass probation based on application source.
Marketing and Advertising Indicators
Views per application - How many people viewed your adverts versus those made applications? Tracking this over time can help you decide if your advertising or advertising preference needs to change.?
This is a great way to test job titles and headlines.
View per application: How many people view a position per application?
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Views-per-interview: How people viewed your adverts per candidate interviewed.
Views-per-hire: How many views do adverts generate for every candidate hired??
Advertising Spend Per Application: How much is spent on advertising versus each application??
Recruitment Agency PSL Key Performance Indicators
The following Key Performance Indicators are designed to assess the performance of the Recruitment agencies you are working with
My one thought when working with Recruitment agencies is not to judge them too harshly on their jobs briefed-to-hire ratio. Focusing on the Briefed versus Interviews ratio and Offers made ratios.
Both of these ratios will tell you about how good the candidates are finding.
Jobs briefed versus Interviews: How many jobs the Agency has worked on versus how many interviews they have generated?
2nd Interview Percentage: What percentage of interviewed candidates progressed to the second round by Agency?
Jobs Briefed versus Hires: How many jobs the Agency has been briefed on versus how many candidates they have hired?
Job Briefed versus Offers Made: How many jobs has the Agency been briefed on versus how many offers have been made
Agency Acceptance Percentage Rate: What is the percentage of candidates who have accepted roles at the organisation?
Candidate probation success/fail percentage: What percentage of candidates from a particular Agency passed probation??
Agency Candidates Hired Percentage - This will track the percentage of candidates hired via Agencies' other means (internal Recruiters, advertising, referrals).
Recruitment Cost Metrics
Total Spend per Hire: - how much is being spent per candidate hired into the organisation.
Total Spend per Interview: - How much has been spent per interview generated by the organisation.
Total Advertising Spend: - How much has been spent per role advertised by the organisation.
Total Recruitment Spend versus Budget: How much has been spent on Recruitment versus the budget? This is a great tool to help you see how the budget is progressing over the year.
Agency Spend as a Percentage of Budget: How much of your Recruitment budget is being eaten up by Recruitment agencies? Useful for long-term tracking to spot trends.
Key Lessons with Recruitment Metrics
As an internal Recruiter metrics will matter. They are a way for you to provide answers to questions from management, to confine to those around you that a good job is being done and to help identify problems.
There is always the problem/issue that you can get caught up in paralysis by analysis by obsessing over far too many metrics.
My advice would be to start small and build over time the amount of data you track. Initially keep it simple.