Recruitment Metrics

 

Recruitment Metrics

This metric category is used to measure your company’s performance in recruiting new employees. The main objective is to speed up the recruitment process to avoid losing any talented candidates. 

To attain this ideal process, the efforts should come from the HR department and be supported by other stakeholders, such as finance or even the legal department. The top recruitment metrics are as follows:

1 Time-to-Hire

This metric measures how long organizations recruit a new employee after the hiring process begins or when the candidates start participating.

The objective of collecting this information is to find if there are lags in the recruitment processes due to misfitting job advertising channels, an insufficient number of recruiters to handle applicants, an irresponsive hiring manager, or an overly complex hiring decision path.

2  Cost per Hire

This metric depicts the total cost to attain one new hire for a position. This total expense includes external costs, such as advertising, job fairs, and third-party agency fees, and internal costs like the recruiter team’s salary and recruitment infrastructure fees.

3  Quality per Hire

This metric measures how a new hire adds value to the company by calculating the average of chosen metrics, such as performance appraisal score, retention (the duration of how long the new hire stays in the company), and 360-degree feedback to gauge cultural fit. This metric is usually tailored based on a company’s standards.

4 Pre-Hire Quality

This predictive metric measures the new hire’s future success through their interviewers’ impressions, aptitude test scores, and skill assessment results. 

Kalibrr HR Metrics Whitesheet report 2022 | Ask Your HR Series