Key recruitment metrics

If you're reading this, some of these things probably sound familiar to you:

• You have a thousand facts... but few clear conclusions.
• They ask you for reports, but you're not sure where to start.
• You sense that there are bottlenecks in your process, but you can't pinpoint exactly where.

Does it ring a bell to you?

The truth is that in selection, What is not measured, cannot be improved, and what is mismeasured... can lead you to the wrong decisions. But don't worry: measure well It doesn't mean to complicate your life with impossible dashboards or eternal reports. You just have to know What to look at, how to calculate it and what is it for.

And that's exactly what this post is about. We are going to give a name (and formula) to those metrics that make the difference between recruiting by intuition or with real data.

5 key metrics you should keep under control (yes or yes)

1. Time to fill

How many days pass from when a vacancy is approved until the person joins?

Formula:
Date of incorporation — Date of approval of the vacancy

Why does it matter?
Because the longer a key position is vacant, the more strain on the team and the more impact on the business. In addition, it is a direct metric of operational efficiency.

2. Time to hire

This one is more specific: how long does it take from when the candidate applies or is contacted, until they accept the offer?

Formula:
Acceptance date — Date of first contact/application

How does it help you?
It gives you visibility into the actual speed of your selection funnel. If it's too high, you might be taking too long to filter, interview, or decide.

3. Conversion rate per phase

What percentage of candidates move from one stage to another?

Formula:
(Number of candidates progressing through the phase/Total of candidates in that phase) x 100

Why is it key?
Because if in one phase the ratio plummets, there's a bottleneck. Maybe the test is too demanding, or the interviews are leaking out too soon.

4. Quality of hire

This is the Holy Grail, but it can be measured. A simple option is to use performance + permanence evaluations.

Formula (simple example):
[(Evaluation of the new hire + Length of stay in months)/2]

What is it for?
It lets you know if the candidates you hire They really work in his position. It's a way of evaluating if you're hiring talent that stays and contributes.

5. Most effective hiring source

Where do your best candidates come from?

Formula:
(Number of quality hires by source/Total candidates from that source) x 100

Why shouldn't you skip it?
Because investing time (and money) in channels that don't convert is a luxury that no one wants to afford. With this metric, you can judiciously redirect your efforts and budget.

What if you could already have all this calculated without lifting a finger?

Here comes the good thing: with our functionality of Data Analytics, you have all this -and more- in real time, without formulas or spreadsheets with a thousand tabs.
You connect, you visualize it, you share it. And the best part: you can make decisions based on reliable and clear data.

• From which recruiter closes the fastest, to which channel converts best depending on the vacancy.
• From where your process gets stuck, to which profiles have the most turnover according to their evaluation.

And if you need to report to management, you've got it figured out: automatic reports, ready to submit.

And you, do you already know where to improve in your process?