Here are recruitment metrics, one of the most important HR metrics!
Which recruitment metrics do you use is of strategic importance. Optimizing recruitment processes, finding the right talent, and increasing the success of your company is much easier with these metrics. Here are the 6 recruiting metrics details you need to know:
The time to fill metric refers to the time it takes to find and hire a new candidate. It is usually measured by the number of days between the posting of a job posting and the hiring of the candidate. The time to fill is affected by the rate of supply and demand for certain jobs, as well as the speed of work of the human resources department.
You can evaluate the demand for an existing post using this metric based on analytics such as applications per job or employment. You can also access data on how many of the job seekers read the advertisement texts and at what point they want to apply. The high number of applications means that it attracts candidates who do not fit the job description.
While situations are different for each industry, it’s good practice to set a benchmark and stick to it. This metric will help you review your marketing efforts and rethink business definition strategies.
The quality of hire metric is about the first-year performance of the hired employee. This metric covers the adaptation process and performance evaluation results of the employee who has completed their first year.
Evaluating the quality of recruitment is one of the most critical metrics. At this point, if you use a data-based method, you can reach the real results of the quality of recruitment. It is very important to make sure that you evaluate the quality of recruitment correctly.
76% of hiring managers say attracting high-quality candidates is their greatest challengeAptitude Research
Reaching the number of applicants who accept or reject a job offer is another important piece of data. Keep in mind that your bid acceptance rate metric is also affected by other factors. If your offer acceptance rate is low, that is, if your candidates do not accept you, it indicates that you offer a substandard hiring experience.
The content of the offer letter and the rights offered may not sufficiently attract the attention of the candidate. You may not have been able to communicate well with the candidate during the recruitment process. This process may have been too long and stressful for the candidates.
An HR specialist must act with an objective understanding to increase offer acceptance rates. When hiring the person you want, be ambitious and focused enough.
Let’s say you have a large number of open positions or you rarely post for a position. Which one is healthier for your company when you compare?
Unfortunately not both.
If you have too many applications for the position, you do not attract the attention of the candidates and do not meet their demands. If you have very few vacancies, it means that your company is not making rapid development and progress. You should evaluate this metric from the perspective of the company’s overall strategies and goals.
Hiring costs are equal to the total amount you spend on hiring in a given year divided by the number of hires you make. Although companies’ recruitment costs differ for each department, you should consider every detail when considering costs. Analyze financially how much it costs you to employ to run the recruitment processes successfully.
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