Recruitment Metrics
[New Hire Quality and Customer/Hiring Manager Satisfaction]
Recruitment metrics are standards of measurement used by human resource professionals to gather, analyze and present important information regarding the hiring process. These statistics can be used to
✔ monitor the hiring process to remove redundancies and bring objectivity
✔ make better-informed decisions and,
✔ help focus resources and actions in order to receive the best return on investment.
Recruiting metrics require several characteristics to be effective and reliable:
● Recruiting metrics must be aligned with business needs and objectives.
● A good metric is actionable and predictive. Statistics must provide useful information that can be acted upon, by providing data to indicate trends as well as forecast actions necessary in the future.
● Metrics must be consistent in what they measure. In order to do this, comparisons must be made of equally weighted criteria.
● Metrics must be tracked over time in order to generate internal benchmarks and analyze internal performance.
● Good metrics should be open to peer/external comparisons. They should be comparable to external benchmarks. Comparisons may be made with another business unit within the same company, a similar company with the same size and/or location, or an industry benchmark.
Recruitment Metrics are important because of the following reasons:
● Supplying critical information to corporate management and providing input on strategic business issues.
● Establishing expectations between human resource function and business managers by defining what is important and what is expected
● Measurement helps in improving efficiency of the staffing function - by identifying any bottlenecks or loopholes in the process
● Metrics give a clear indication of the strategy that has the most business impact – it helps HR professionals to allocate limited resources strategically
● For
