Hiring the right people is essential for your organization’s success. Recruitment can be a challenging process we handle for our clients, so they can focus on running their businesses. Like any effort, measuring results is critical to determining the success we’ve achieved and what approaches we need to change.
Here are some metrics we consider:
This measures the time it takes to fill a job vacancy, from job posting to offer acceptance. Time to fill doesn’t include the interview process. If this number grows, it could mean problems with the hiring process or candidate quality.
This is the time it takes from a candidate entering the pipeline to the point they’re hired. It measures how quickly we process a candidate and deliver results for our clients.
Submittals per recruiter is the monthly number of job candidates submitted to a client. This metric helps us evaluate a recruiter’s productivity. It can also improve the time-to-hire by identifying bottlenecks and making improvements. Lots of submittals, but few offers means we’re sending the wrong people or the client, and we are miscommunicating about what they want in a candidate.
This measures the performance and retention of new hires. It is among the most critical recruiting metrics because it directly impacts our success. This can cover retention rates, how quickly an employee becomes productive, and supervisor reviews. This helps us identify the best candidate sources and the most effective recruiting methods.
Candidate Net Promoter Score (NPS) measures how much a candidate likes or dislikes the application and recruitment experience. It shows how likely candidates are to recommend our clients and us to others. If candidates are happy, they’re more likely to recommend us, and our clients, to people they know and provide positive reviews on social media. If the score is low, we’re not meeting expectations.
This is the percentage of candidates who accept a job offer. This metric is critical for assessing the effectiveness of the recruitment process in attracting and selecting suitable candidates. If the rate is high, we’re recruiting the right people. If it’s low, we’re not matching the right people with the available opportunities, or the organization’s compensation, benefits, or culture aren’t competitive in the job market.
The sourcing channel cost shows the average cost per hire from each channel. It helps us decide which medium to attract candidates is the best investment. One that may cost more but delivers more successful candidates may be a better buy than a low cost-low success method.
If your organization has a position to fill, SkillConnect360 can help you find excellent candidates who will be a great fit for the job and your organization. Call us today at 212-507-9350 or complete our contact form to start the conversation.