A general definition of recruitment metrics is something like this, “standards of measurement that HR and Recruitment professionals use to identify, analyze and present important information regarding the hiring process.” Recruitment metrics are extremely important in both assessing the effectiveness of the recruitment process and in looking at the ROI (return on investment).
Traditionally recruitment metrics focus on two areas; cost per hire and time to hire. They are both looking primarily at only the impact to hire someone.
However, those metrics generally do not include a multitude of important data points that decision-makers need to know. For example things like candidate satisfaction and hiring manager satisfaction can help determine wholes in a process.
You can also use recruitment metrics to optimize the hiring process looking at things like distance to work, difficult of commute, and demographic data on what schools and courses provide the best employees.
Another are you can draw psychometric data from for your metrics would be on things like work ethic, career decision-making and employee loyalty to see who is successful in your company so you can find more like them.
The types of metrics you can use in your recruitment process are practically limitless.
Based on a recent survey I saw on LinkedIn, If we use metrics correctly, they achieve the following additional benefits:
- Advance the relationship between recruitment and the hiring managers — align the RIGHT objectives
- Provide credibility to the recruitment department by displaying that they understand the overall business goals and objectives
- Define what is important and expected of each recruiter
- Drive consistency in delivery of recruitment services to the organization
- Provide a platform to measure recruiter accountability and performance.
Does your recruitment process have actionable metrics that can drive data-driven decision-making?
If you are having trouble with your recruitment metric, connect with me and I’ll help you make sure you are measuring the recruitment metrics that are key to your business.
HR & Recruitment Analytics – The recruitment and retention of top talent is the biggest challenge facing just about every organization. DMAIPH is a leading expert in empowering HR & Recruitment teams with analytics techniques to optimize their talent acquisition and management processes. Contact DMAIPH now at firstname.lastname@example.org or connect with me directly to learn how to get more analytics in your HR & Recruitment process so you can rise to the top in the ever quickening demand for top talent.