Are you measuring the top 5 recruitment metrics?
To put it crudely, the recruitment process can be a pain in the butt. When you think about it, it’s just a complex and lengthy marketing strategy that’s supposed to help companies attract the best talent and eventually find the one who best fits the?company-culture . With 70% of hiring managers stating recruiting departments need to become more data-driven to improve long-term business impact, the need for accurate hiring metrics has never been greater
What are recruitment metrics?
Recruiting metrics (sometimes called ‘hiring metrics’ or ‘staffing metrics’) are measurements used to track hiring success and optimize the hiring process .
When used properly, these recruiting metrics help your hiring team evaluate your recruiting process, the success of your hiring strategies , and whether you’re hiring the right talent for your company.
Now that you know what recruitment metrics are, let’s look at the 5 top recruitment metrics.
Top recruitment metrics you should be measuring :
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1. Quality of hire
The quality of hire is defined as the value a new hire adds to the company. Specifically to the organisation’s long-term success. 40% of?recruitment thought leaders ?rank quality of hire as their top priority. But it is also the most difficult recruitment metric to measure, and the main reason for that is the span of time it will take to asses the quality of performance and results the new hire will bring during their tenure. This may take several months to even years.
The formula for calculating quality of hire is:
New hire retention = (number of new hires who remained employed for the measurement period) / (number of new hires at start of measurement period) x 100
2. Time to fill
Among the top recruitment metrics is Time to fill. It is the amount of time taken to locate and recruit new employees to fill a position. It represents the number of calendar days until the company fills the open position. Generally, the process usually begins with either....
Executive Member, Corporate Relations and Placement Committee || IIM Ranchi, MBA '26 | Entrepreneur | Marketing Specialist | Brand Building |
1 年Gianna B. Do you think hiring metrics will help increase the efficiency of the hiring process?
Executive Member, Corporate Relations and Placement Committee || IIM Ranchi, MBA '26 | Entrepreneur | Marketing Specialist | Brand Building |
1 年Alnajm Alsafy In your opinion, how important it is to analyse hiring metrics in order to find the perfect fit?
Executive Member, Corporate Relations and Placement Committee || IIM Ranchi, MBA '26 | Entrepreneur | Marketing Specialist | Brand Building |
1 年Rania Moussa Don't you think analyzing hiring metrics will help organizations find the perfect candidate?
Lead Product Evangelist - peopleHum #hrtech
1 年Minal Bhandari Don't you think adapting to the new-age recruitment technology will expedite the hiring process by leaps and bounds?
Lead Product Evangelist - peopleHum #hrtech
1 年Palak Mehta Do you think cost per hire is an essential and most commonly used hiring metric?