As I sat down to begin this post, I decided to start out with some good old-fashioned Internet research. Googling the term “recruiting metrics,” I was pleasantly surprised to see how many (potentially) relevant hits were returned, obviously a measure of the topic’s popularity. Hurray for recruiting!
However, this happiness quickly subsided as I clicked through the results – I was gravely disappointed with the crap on this topic. Granted, each post had some nugget, but the results for recruiting metrics were all over the place. The current talent acquisition landscape is constantly changing, yet the related content isn’t changing with it.
5 Metrics Recruiters Should Care About:
1. Time to fill. Without time-to-fill data, there is no real way to tackle workforce planning. For example, at Glassdoor, we know it takes (on average) 42 days to fill a sales position, upwards of 60 to fill an engineering role. When we look at our headcount plan for the year, we keep these metrics in mind. They help us form a realistic estimate of how many reqs can be filled by any given recruiter in a set timeframe.
Time to fill, of course, varies drastically by department and as market conditions change, but can still help predict hiring outcomes. Additionally, time to hire is a great metric to bring into initial intake meetings with hiring managers to showcase your recruiting savviness – and set realistic expectations.
2. Source of hire. Source of hire is extremely important, because you’ll want to invest a majority of your budget into your best resources. Things like employee referral programs, various job boards and paid social advertising all fall into this bucket. Don’t make the mistake of assuming what your best performers are – actually dig into the data!
With new technologies and a whole new generation entering the workforce, we are seeing dramatic shifts in tools being used to secure candidates. What used to work isn’t necessarily number one anymore. Knowledge is power when it comes to source of hire! So update your metrics regularly to optimize your recruiting spend.
3. Recruiter performance. In my personal experience, it’s difficult to truly assess how a recruiter is actually performing. Often, recruiters are considered great at their job if they fill their open reqs and are likeable. Maybe that’s fine in your organization, but to really inspire and propel your recruiters, you’ll need to dig deeper.
We’re fortunate at Glassdoor to be a part of a culture that’s built on constant feedback. With that in mind, I recently did a 90-day check-in with my recruiters’ hiring managers to assess what went well and what could be improved. Based on their feedback, we are building out individual development plans for each recruiter so that they can continue to develop their opportunity areas, showcase their strengths and work on their weaknesses. Besides hiring manager happiness levels, look at other variables, such as quality of hire, candidate experience and sourcing.
4. Offer declines. Have you taken a hard look at why candidates decline your offers or where they accept offers instead? Knowing these crucial metrics can help improve your recruiting strategy. Additionally, note internal trends. Are certain managers or departments seeing a higher volume of declines? All these factors can indicate a market change or an internal problem with a department or leadership.
5. Recruiter screen-to-hire ratio. This metric can be incredibly difficult to track depending on your applicant tracking system (ATS), but tracking it effectively can dramatically influence how you recruit for positions like sales, customer success and even engineering roles. If you can understand how many recruiter screens on average it takes to get a certain type of hire, you can assist your larger recruiting team with understanding how large the front of their funnel needs to be.
Earlier this year, I on-boarded two new recruiters. Keeping in mind our average screen-to-hire ratio, we were able to determine how much activity they needed to have for each type of req on their plate. This gave our new hires realistic activity goals and decreased their ramp time because they knew what was expected of them.
This post originally featured on the Glassdoor for Employers Blog.