4 KPIs of Strategic Recruiting

Our six city Recruiting Optimization Roadshow is underway and continues next week in Chicago. One of our most anticipated panels on recruiting KPIs and metrics was met with great enthusiasm from our audiences, so we wanted to share a little of what we’ve learned, and what you can hope to hear more of at upcoming roadshow events!

When our panelists were asked what metrics they’re measuring, and which they find the most important, there were lots of great answers, but overall there were a few key metrics that stood out. Here we look at four of the most commonly measured recruiting metrics and why they’re crucial to a strong recruiting strategy.

Candidate Pipeline

The number one metric was, unsurprisingly, the overall number of candidates in the pipeline. It is important to know just how many candidates your efforts are bringing in, and how that will translate into hires over time. This metric is helpful within recruiting teams to help forecast hiring plans and report to senior leadership.

Taking it one step further, understanding what tactics impact your funnel (a new source, a different job title) can help refine your process even further.

Source Quality

Also important to measure and track is where the most candidates are coming from as well as their quality. Knowing what sources bring in the most candidates is essential to building a healthy pipeline, but being able to identify the source that brings in the highest quality candidates can measurably improve your recruiting efforts.

High quality candidates, those that make it furthest through the process, or lead to a hire can be tracked by source and help you identify which of your sourcing efforts are the most effective. Knowing which sources bring in the best candidates can help you choose how to allocate time and resources the most efficiently.

Time to Hire

Along with understanding your funnel, knowing your average time to hire can help with forecasting, and help inform your overall recruiting strategy. Understanding how your time to hire factors into your overall product roadmap or company strategy can help you make the right hires at the right time and can make a huge impact on the business.

Offer Acceptance Rates

Knowing how many of your extended offers are accepted is helpful, but taking that one step further to understand why offers aren’t accepted can drastically inform your recruiting process. Analyzing rejected offers, or providing candidates with the opportunity to provide feedback on why they rejected offers, will help ongoing efforts to improve acceptance rates. Understanding what aspects of your offers motivate candidates to accept through constructive feedback and candidate surveys can help you create even stronger offers going forward.

If you’re not already measuring these KPIs, there’s never a better time to start! By tracking these metrics you’ll have the ability to make more data-driven decisions around your recruiting process.

For more ideas on what metrics top recruiters are measuring (and how they’re doing it!) come visit us on the road! The Recruiting Optimization Roadshow continues in Chicago, Boston and New York. Join us or get more information below!

Recruiting Optimization Roadshow

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Recruiting Metrics