If you are looking to improve the performance of your recruitment process, it is very important to pay attention to a few features and parameters. One of the essential elements you are expected to take care of would be to take care of the Recruiting metrics. What are these recruiting metrics and what care do you need to take care of them? We will guide you through the steps involved.
What are recruiting metrics?
Recruiting metrics are the measures that help you arrive at the quality of your recruitment activity in a better manner. In fact, a proper measure of the recruitment metrics will help you judge the performance of recruiters, the brand image of your firm as a recruiter and develop effective recruitment marketing.
Yes, just as you need the high level marketing strategies to market your products and services as a business; you also need to go through good recruitment marketing if you really want the best talent to be directed to you.
Efficient recruitment agencies take care of these metrics – and the right kind of metrics to evolve their strategy for attracting the best possible talent. A case in point can be Greenhouse that employs Greenhouse recruiting metrics for evolving efficient recruitment strategies.
Use the Right Kind of Metrics
Instead of going with a large number of different metrics, it would be advisable to go with just a few of the most important ones. It would be prudent to go with the metrics that are actually tied to your business goals and direction.
While it can be an easy task to collect the metrics and analyze them to find the performance of your recruitment process as a whole, the action taken from this analysis is what matters for the betterment of your hiring process. However, Many organizations tend to overlook the importance of learning from what these recruiting metrics suggest you to implement. When there are needs to take actions to improve the performance of your business as a whole, you should apply those improvements. From that perspective, it would be practical to focus on a smaller number of recruiting metrics. That will be a better idea than reporting on all available ones. Choose those metrics that are meaningful for your business.
What are the critical recruiting metrics?
Well, there are several recruiting metrics, but not all of them may have any bearing on the performance of your organization and its recruiting process. Though choosing the exact metrics that are meaningful to your genre of business may be something you can achieve through the internal consultation, some specific metrics that would suit every type of industry include sourcing, quality of hire, and satisfaction rating.
The sourcing metric will refer to finding which source brings the best talent to your organization. Maybe it is social platforms like Linked In, or the conventional channels like employee referrals, social media and job boards. Understanding which channels bring better candidates, you can direct your efforts to those channels.
Quality of Hire will focus on the performance of the new hires, their competencies, and the retention capacities. Tracking this post hire recruiting metric can be a practical option for arriving at the success rate of your hiring process and focus on how to improve it further. The metric is ideally measured over a period of about one year from the date of recruitment and focuses on the performance and training efforts required for the new hires.
Satisfaction levels denote the levels of happiness on the part of the new hires and hirers. In fact, most of the organizations do not consider it a valuable option and close the option once a new hire is made. But implementing this recruitment metric will be helpful in arriving at the exact changes that may be necessary. This can be measured through the means of employee questionnaires, candidate surveys, and the feedback from the co-workers, managers, and subordinates.
Well, recruiting metrics are a vast concept and can be the best option to improve the performance of your hiring process. However, it should not be limited to reporting the metrics and doing nothing about it may have no practical performance improvements. Make use of the better recruiting metrics to support a better engagement and retention of the employees and a continuous improvement process.