Top 9 Recruitment Metrics In 2021
All companies have different hiring processes. But how can you tell if your hiring process is working or not? Is there a requirement to changeyour hiring process? Of course, what works well for one organisation may not necessarily work for others. You need to keep your recruitment stats. If you want to change your hiring process you need to measure and collect data and information about your recruitment process. What recruitment process should you follow?
You need to collect different information to plan your recruitment process. Top recruitment agency follows metrics that help them to improve their recruitment process. Recruitment metrics are the key to keep a check on your recruitment process. It is important to measure your recruitment goals if you want to track your overall recruitment performance and want to improve.
Here let’s look at some of the recruitment metrics and how you can measure them.
When you are hiring a candidate for your job post it is important to ask them how was their experience with your hiring process. What they liked and disliked about your recruitment process? Do you need to change something about your hiring process? How can you improve your hiring process? You need to collect all the feedback from candidates that will help you in the future to improve your hiring process.
You can ask for candidates’ feedback after you are done with the hiring process. Asking for feedback in real-time will help you to get honest replies. As your candidate can give their honest review at the time of recruitment process.
How fast or slow is your hiring process is one of the important factors to measure your recruitment metrics. How fast does it take to fill your vacant post? Is the hired candidate a right fit for your company? Your hiring efficiency will be based on how slow or quick your job is filling. Hiring efficiency is proportional to candidate experience and recruitment cost.
If your hiring process is taking too long to decide whether to select your candidate or not, they will get frustrated and will leave a bad review of your hiring process. Also, the longer your recruitment process takes the more you need to invest.
The number of candidates applying for your job and are accepting your offer and stays will showcase the percentage of your candidate quality. You are looking for high-quality candidates for your company. Which candidates you are hiring with your job application form. Attracting a large number of candidates won’t be count unless you are attracting the right candidate for your job post.
This will tell you if your company is wasting valuable time or money in finding top candidates for their post or making a progress by selecting the right candidate for the post.
Another big factor while doing your recruitment process is the hiring cost per candidate. How much you are investing in posting your job description like ads and job boards and how much you are investing in per candidate? Hiring cost is important in deciding your budget for your annual company hiring. Hiring costs can affect your annual business budget.
Also, the time it takes to complete your hiring process is co-related to your hiring budget. The longer it takes to select or hire a candidate more will be your hiring budget. The lesser the time for your hiring process less money you will have to invest.
How many people are filling your application? How many job positions you have opened for your candidates and how many are getting filled? How many people you are hiring and rejecting? How many candidates are offering your job offer and how many are rejecting? Your recruitment metric is also based on your application data per candidate.
If your applications are filling fast or slow? How long does it take to fill your application? If your job application demand is higher or not? You need to post the right job description if you want to find the top talents for your company.
Hiring Manager Experience
Are the hiring manager and the team is happy with the hiring process? Would they like to improve anything about the hiring process? Candidate satisfaction matters but hiring manager experience also matters. How does the hiring manager feel about the recruit are they happy with it or not? If the candidate is performing well and helping the company to grow then the hiring process can be called successful. This will also make the hiring manager proud cause of hiring the right candidate.
Working with your hiring team will help to improve your recruitment metrics for the company. This will make satisfy the whole recruitment crew and the process.
Now when your candidate is selected for the particular job role it’s time to know their experience with the work. How does your employee feel once they are been selected for your job? Are they happy with the post? Is the employee performing well after the hiring? How long they stay in for your company? All this matters a lot to check your employee experience.
Once the hiring process is done and the company selects the candidate it’s time to keep a check on their experience. Are they feeling the same as the company promised them during the recruitment process or anything needs to be changed?
Recruiting is also about how well you are marketing your job recruitment? People will not notice your job if your market is not good or if it doesn’t reach anyone. How effective are your ads? Which ad channel is performing the best? How much budget do you need for marketing your recruitment process? You need to find out which channel is working the best for marketing your job recruitment.
This will help you to find and improve your recruitment metrics. But an important thing to note is that how many people really respond to your ads? How fast it takes to fill your ads by the type of job marketing you are doing?
Job referral can save a lot of time and money for your hiring process. How many job referrals are you receiving? How do you connect with them? If you know someone from your job community or anyone who can bring you some top talent for your company. How do you communicate with your talent communication or the one you are getting referred to?
It is an effective way to hire your candidate using referrals or hunting top talents. This will make your hiring process easy and will save time. You can directly connect with them. It is also important how you are connecting with your candidates during the whole recruitment process.
You need to track every detail and information about your hiring process to know and understand your recruitment metrics. Top recruitment agency keeps the data of their recruitment process so they can improve their hiring process in the future.
Where your company stands when it comes to the hiring process? How can you improve your hiring process? What changes you must do and how much budget do you need for your whole hiring process? All this will help you to measure your recruitment metrics. Understand your company’s needs and future goals. What type of talent or candidate you are looking for for your company?
Before the hiring process knows every detail you need to know for your recruitment process to improve your hiring.