Carnival of HR: Data, Metrics, KPIs, Oh My!

Carnival-of-HRAt Greenhouse, we geek out over ways that data can be used to empower recruiters to be more effective. This week, we’re hosting the Carnival of HR on the topic of Recruiting KPIs to share a roundup of content on how recruiters are forecasting, measuring, and improving their performance through the use of data.

Talent Acquisition has recently begun to lean on data to drive decisions and improve its hiring practices. The robust data available to today’s recruiters, coupled with a paradigm shift at today’s forward-thinking organizations, has companies rethinking the metrics used to measure recruiting performance.

Many of these metrics allow recruiters to be more strategic and predict recruiting outcomes. Recruiting velocity, as one example, provides recruiting teams with an understanding of how fast candidates are moving through the pipeline and at what rate they will close.

We also encourage recruiters to reconsider “Time to Hire” as a leading indicator of recruiting performance. While this is certainly a valuable metric, “Source to Close” is often a better indicator of the health of your recruiting function. In the post “Why You Should Be Measuring Source to Close” we dive in deeper.

Another forward-thinking metric is Source Quality, which is described in the post “Putting Source Quality over Source Quantity.” Many recruiters measure the quality of their sources by the number of applicants they receive. The problem with this is that it fails to provide insights around the actual quality of the source, and could simply reflect a large number of unqualified applicants that are wasting your interviewers’ time. A much more effective metric evaluates the quality of these sources by how far candidates get in the interview process.

Over on the UpstartHR blog, Ben shares “The New Recruiting Metric: First Year Retention.” He describes how he used data to tie recruiting to retention - especially in the first year - and how to optimize your recruiting process for employee engagement and retention.

On the Octopus blog, David shares the steps that recruiters can take to increase the number of quality candidates they receive for a vacancy. This can be done by increasing the awareness of the vacancy, increasing the motivation to apply, and reducing the friction felt by candidates when applying. Take a look at “Make the Top of your Recruitment Funnel Wide and Slippery.”

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Modern Recruiter Roundup

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Recruiting Metrics