Who Wants to Be a Recruiting Metric-Aire?

Metric #1 — Speed-to-Hire Family of Metrics

  • How and when do you know if you’re looking at the right person?
  • What is your speed to hire when you find the right candidate?
  • What, where, or who are the bottlenecks in your organization? (hiring managers will say recruiters or those who hold the budget, while recruiters will usually say hiring managers).

Metric #2 — Quality of Hire

  • Candidates per hire: This metric represents how many job candidates a hiring manager sees before a hire is made. Adler explains, “If the number of candidates seen before one is hired varies widely or is too high, it indicates your entire hiring process is out of control.”
  • Passive candidate conversion rate: This metric is made up of several smaller metrics that track from end-to-end contact with a passive candidate from first-response contact to prospect-conversion rates.
  • Referrals per call: Employee referrals are the most effective sourcing channel and increase the chances of successful job matching from 2.6 to 6.6 percent, according to research done by Glassdoor, which is why they are also significant in measuring pre-hire quality.
  • Email conversion rates: Making sure email content is compelling, specific, and to-the-point can significantly impact conversion rates. Recruiters should aim for response rates that are 50 percent or higher.

Metric #3 — Hiring Experience

  • Mobile Readiness: Can you apply via mobile? Does it save your information? Do you think anyone will pinch and zoom their way through a five-page application only to have it error out 43 minutes later? They won’t.
  • Pre-Candidate Experience: I had not heard this term, but it’s good. What is the experience with your company before they hit the apply page or site? Keep in mind that candidates are headed to Yelp, Glassdoor, Facebook, and Instagram to get a sense of who you are and what you stand for. If they don’t like what they see … well.
  • Offer Acceptance Rate: If you don’t know the candidate, don’t make an offer. If you haven’t vetted the candidate, don’t make an offer. If you’re handing out offer letters like candy and seeing your rates plummet, there’s a reason for that. Keep in mind that you have to be right for the applicant and they have to be right for you. Check your offers-to-acceptance ratio.
  • Candidate Readiness: Candidates who are properly primed for each stage of the application, interview, and offer processes are going to perform better. Companies with talent communities and other social-based tools can use them to help candidates understand the process, the types of questions that will be asked, etc. so that the candidate is as ready as possible at each stage.

About Maren Hogan:

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Maren Hogan

Maren Hogan

Chief Marketing Brain of @RedBranch Media. I help folks in recruiting, talent acquisition and HR, figure out marketing, community and social. #TBEX #TChat