Useful measures should be as easy to understand and as simple as they can possibly be. They should also answer a question that someone cares about and they need to be ones that you have influence or control over the outcome.
Unfortunately, many of the most common recruitment metrics do not meet these requirements. Most of us report metrics because they are expected or required or because our boss needs them.
Here are the 10 recruitment metrics that are frequently used or cited.
- Time to accept
- Time to source/Time to hire
- Time to present a qualified candidate
- Quality of hire (Attrition in 12 months)
- Submittal to hire
- Submittal to acceptance
- Reqs per recruiter
- Hires per recruiter
- Source of hIre
- Cost per hire
Many of these may be useful for improving the recruiting process but they do not provide information on the effectiveness of the recruitment team. It is doubtful that hiring managers or leaders care about how many requisitions a recruiter has or how many hires an individual recruiter makes. They are (or should be) looking at the overall efficiency and effectiveness of the team. Cost may be relevant in extreme cases, but generally is an insignificant issue.
The metrics I find most relevant to a leader are the time to present a qualified candidate, the accept ratio, and quality of hire based on performance over several months and linked to hiring criteria such as degree, experience, or source of hire.
Here are some articles that discuss metrics and present different approaches