Recruiting Leadership: Metrics and the Mathematics of Success Part 2

In the last Monday Minute I covered some of the key recruiting metrics for campaign performance and budgeting, some of which may bring relief to or even prevent the occasional budgeting headache.? This week I we'll turn inward to department performance metrics, discussing some of the more common KPIs and even some of the less common.?

TTH (Time To Hire)-?

This may go by other names like “Time To Fill”, “Speed to Hire”, but the concept remains the same.? How fast can you fill an open position, or in the case of an “evergreen requisition” how fast you can get from a lead to a hire.? I wrote last year about how? speed is everything, and instant gratification is preferred. (Read Being Fast Makes Them Furious).? The faster you engage candidates the more likely you are to engage them,? the faster you interview and qualify them the more likely they are? to choose you over a competitor, the faster you get them to hired, the less likely they are to ghost you.? The faster you do all of these the shorter your TTH.? So long as you do not compromise a thorough recruiting process, TTH is certainly one of the most important KPI’s for measuring recruiter and team performance, and you should measure both.

LTA (Lead To App ratio)-

How many leads do you need to work to get one turned into a full application.? Now, depending on your structure this job may be handled by a sourcing team, rather than recruiting, some companies even choose to outsource it to and RPO or 3rd party.? Your LTA ratio can determine a few things.? A low number can mean you have a easy to fill job, and/or a very convincing recruiter/sourcer.? A High LTA can indicate the opposite, your job is UGLY, and/or your recruiter doesn’t know how to sell it.? In some instances lead quality can be a factor here, and there is a whole other metric to help figure that one out.

ATH (App To Hire conversion)-

Mentioned also in part 1, this is how many full applications it takes for a recruiter to make a hire.? When measuring it for recruiter & department performance, it is best to set individual and team goals and work to continuously improve through process improvement and recruiter training.? It is important to limit the measurement to the total number of apps that are qualified/screened for the job in this metric if possible.

LPR (Leads Per Recruiter)-

Every recruiter is different. While some can handle a high volume of leads, others are able to deliver just as many hires off smaller amounts. Work with your recruiters to determine the number of leads each requires to get a satisfactory number of hires, then ensure that they receive them. Nothing compromises a recruiters performance more than giving them more or less leads than they need.

Inbound & Outbound Call Metrics-

There are several call metrics that should be monitored closely the following two are (in my opinion) the most important:

Call Duration- The amount of time a recruiter spends on the phone with a candidate.? This varies by recruiter, with some naturally taking more time with candidates( typically having higher ATH conversion rates), and others spending less time (focusing on volume hires).

RONA (Rollover or Reroute On No Answer)- ?RONA is seldom a good thing.? Inbound calls are often the best opportunities you get to engage a candidate.? While some amount of RONA is unavoidable, make sure to cultivate inbound calls only to a level that you are able to manage.? Always encourage your team to return missed calls as quickly as possible, and look for ways to reduce your RONA percentage through best practices.

The following links will take you to previous editions of the Monday Minute that take a deeper dive into Inbound Calls? and Outbound Calls.

These are just few basic metrics that can help you to build a better recruiting department. There are many others equally important to your organization and its goals, that we can cover in later editions.? What is important is the process of measuring performance, setting goals, and striving to outperform through proper motivation, process improvement, and training.

If you need strategy and insights for your recruiting team, please reach out to me at [email protected]? Don’t forget to like, comment, share, and subscribe to The Monday Minute.? Have a great week in recruiting!