Insight into recruiting and hiring performance tells you where to spend time and allocate resources. The more you know, the more you grow.
Tracking, measuring, and interpreting data across an organization is a crucial process for a successful business. However, one division often gets overlooked when it comes to having detailed metrics available for analysis: recruiting and hiring. This is not to say that recruiting departments don’t have metrics attached to them, but more often than not, the only metric pulled to judge their performance is the number of filled positions; and that’s not good enough. Recruiting and hiring departments need the ability to pull a detailed variety of data sets in order to perform at their best.
Number of Applications. How many people are applying to each opportunity?
Applicant Source. Are applicants applying directly through your website or are they coming from job boards? If so, which ones? Maybe you get the most candidates via LinkedIn. You need to be able to know where your applicants are coming from so that you know which avenues yield the best talent.
Applicant Progression. How many applicants were qualified enough to make it to the interview stage? How many rounds were required before you made the hire?
Candidate Processing. After their interview (s), was the candidate accepted or declined for the position? If offered the position, how many declined the offer?
Time to Fill. How long does it take to close out each opportunity?
An Applicant Tracking System capable of providing real-time recruiting metrics puts your hiring team in the driver’s seat by giving you the power to track recruiter performance and requisition status. With this knowledge you will discover what is – and what is not – working so that you can make the changes needed to keep your recruiting and hiring engine firing on all cylinders.