5 Recruitment Metrics You Shouldn't Ignore

Companies dedicate hundreds of hours and thousands of dollars on recruiting new talent. Yet it’s still all-too-common for the recruitment process to be informed by little more than gut feeling, rather than hard-and-fast data.

It doesn’t need to be that way. There are dozens of metrics you can use to measure the effectiveness of every part of your recruitment efforts, from the time you first qualify a candidate to the moment you offer them a position.

But with so many KPIs to measure, which ones should you focus on? Which will give you the vital insight you need to recruit better people? Read on to learn about the five key recruitment metrics you simply can’t afford to ignore:

1. Time to fill

Sadly, recruitment is more complex than simply advertising a job, then waiting for the candidates to come running. There are several steps to filling a vacancy - and the longer it takes, the more it costs you in lost productivity.

To make matters more difficult, the best people are in greater demand than ever, fuelling an increase in “ghosting” - when candidates miss interviews, fail to turn up for their first day, or quit their job on the spot with no prior warning.

That’s why it’s so important to measure the time taken to fill vacant positions. To get a clearer picture of the efficiency of your recruitment process, use the following formula:

• Average time to fill = Total number of days of open jobs / Total number of jobs open