What is Recruiting Metrics?
In every organization, the recruitment process generates valuable data that can be analyzed through recruiting metrics or Key Performance Indicators (KPIs). These metrics provide measurable insights into the effectiveness and efficiency of hiring practices, offering concrete evidence to evaluate recruitment success rather than relying on assumptions.
Common Recruiting Metrics
Since each company has unique hiring goals, the metrics tracked may vary. Below are some widely used and impactful recruitment metrics:
Cost per Hire
Measures the total cost involved in hiring a new employee, including advertising, recruiter fees, and onboarding expenses.
Time to Hire
Tracks the duration between when a candidate enters the pipeline and when they accept the job offer.
Time to Fill
Indicates the time taken to fill an open position, from job posting to the candidate's hiring.
Hiring Velocity
Reflects the speed and efficiency of the recruitment process, often linked to meeting organizational staffing needs.
Qualified Candidates per Hire
Evaluates the number of qualified applicants considered for each position, showcasing the efficiency of sourcing strategies.
Candidate Experience
Measures the satisfaction and perception of candidates throughout the hiring process, influencing employer branding.
Offer Acceptance Rate
The percentage of job offers accepted by candidates indicates the attractiveness of the role and organization.
Quality of Hire
Assesses the value and impact of new hires on the organization, focusing on their performance and contributions.
Source of Hire
Identifies the most effective channels for finding and attracting successful candidates (e.g., job boards, referrals, or social media).
Hires to Goals
Tracks progress toward hiring targets or quotas, helping align recruitment efforts with organizational objectives.