Before getting into the specifics of what metrics to choose, we’d like to tell you why you’ll need talent metrics or recruiting metrics as most will identify it as. Let’s start with a simple logic, given that you are lost in an island with no cell phone network and you do not know the local language. You want to find your way back to the mainland. Sooner or later you will find your way back to the mainland. But don’t you think it would have been a lot easier if you had a map in the language you prefer? Using Recruiting Metrics in hiring process is as simple as simple as that. You hire people, analytics helps you in putting together a workforce much faster AND increasing the quality of hire by 62%, a survey says.
The process of hiring isn’t an easy process, it is a mix of HR and sales — with a strong shot of marketing. Getting in touch with the right candidates (Sourcing), if they get through the test, telling them why it is important for them to work for the company (through candidate experience) and finally getting them onboard. Hence, metrics in themselves do not make a recruitment strategy; however, their efficient and tactical use facilitates effective recruiting process.
Generic Metrics such as channel and recruiter performance can be tracked through any hiring tool you are currently using such as a Candidate Relationship Management System or an Applicant Tracking System.
Modern Video Interview tools offer deeper insights into hiring metrics during the process that are not tracked currently. While considering business growth, these metrics are as important as generic metrics if not more critical.
These metrics are:
These data points can be used to gauge the effectiveness of the hiring process, bottlenecks if any, efficiency of methods use and brand perception amongst candidates.
Father of Modern Sciences, Galileo once told, “Measure what is measurable and make measurable what is not so.” Many business heads measure everything except the effectiveness of hiring. There’s no need to furnish any data to show that hiring has direct impact on the competency of the workforce. High-performing employees are to the organization as oxygen is to the human body. If your company doesn’t bring enough in, it’s going to suffocate, slowly and painfully. Tracking these hiring metrics can definitely help recruiters find a better working salesforce.