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Recruitment metrics explained

Key Performance Indicators (KPIs) are essential metrics that organisations use to measure the effectiveness and success of their recruitment process. Here are some of the top KPIs in recruitment process:

  1. Time to fill: This KPI measures the time it takes to fill a vacant position. A shorter time to fill indicates that the organization is efficient in identifying, attracting, and hiring qualified candidates.
  2. Cost per hire: This KPI measures the total cost incurred by the organization to fill a vacant position. It includes expenses such as job advertisements, recruiting fees, and staffing agency costs. A lower cost per hire indicates that the organization is efficient in its recruiting process.
  3. Offer acceptance rate: This KPI measures the percentage of job offers that are accepted by candidates. A higher offer acceptance rate indicates that the organization is offering competitive compensation and benefits packages and has a positive employer brand.
  4. Candidate satisfaction rate: This KPI measures the level of satisfaction of candidates with the recruitment process. It includes aspects such as the job description, communication with recruiters, and the overall recruitment experience. A higher candidate satisfaction rate indicates that the organization has a positive employer brand and values candidate experience.
  5. Quality of hire: This KPI measures the performance and productivity of new hires. It includes factors such as the time it takes for new hires to become fully productive, their performance reviews, and their retention rate. A higher quality of hire indicates that the organization is successful in identifying and hiring top talent.
  6. Offer dropout rate: This KPI measures the percentage of candidates who decline job offers after receiving them. A lower offer dropout rate indicates that the organization is offering competitive compensation and benefits packages and has a positive employer brand.

By tracking these KPIs, organisations can assess the effectiveness of their recruitment process, identify areas for improvement, and make data-driven decisions to improve their recruitment outcomes.

 

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