Recruiting with KPIs becomes more and more important, especially when we talk about Social Media and talent acquisition campaigns, KPIs become the key to success.
Which recruiting KPIs are important for your success? Below we name a few for you to be considered:
Number of applications per year and job opening
I guess that is an easy one if you have an ATS. Or are you telling us, that your ATS does not know how many applicants you have per year and per job opening? These two numbers should be at your fingertip, or mouse klick.
How long will it take to fill a position from the moment you publish or start searching to the time somebody agreed and signed a contract. Time-to-Hire is an important recruiting KPI. The faster the better. Good candidates don’t wait. Depending on the complexity of the position it will take less than 4 weeks! Where are you here? Do you have the right software to support a faster time-to-hire?
Cost per Hire
This financial KPI shows the efficiency in your recruiting. Often internal costs, such as number of interviews and active search within company, are excluded in this calculation. By defining a clear cost-per-hire, you can set efficient targets for your open positions.
Number of Quality Candidates per Position
It is great to get allot of applications to your job vacancies. However, knowing how many quality candidates you received is the even better information. We at softfactors rate candidates through an automated soft- and hard-skills screening A-B-C. It helps to know how many of good candidates you get and from which channel (Point below)
Origin of applicants per position
Are you tracking the source of your candidates? Do you know how many of your candidates come from your expensive Active Search Consultant or from your Facebook campaign or LinekdIn? Applying these KPIs to your recruiting and combining it with the cost per hire, will change your view on recruiting. Definitively.
Number of visitors on your career page and candidate conversion
Here we get deep into Online Marketing Lingo. A visitor is not a visitor. What is your klick-through rate? How many unique visitors where on your career page in a specific time frame, how many of them clicked “apply” and how many of them ended up in your ATS system? At softfactors we call this conversion 1 and conversion 2
Candidate Completion Rate
How many of the candidates that started out on your career website and hit «apply» made it through the application process? Here often companies lose candidates due to bad ATS that does not fit today’s candidate’s needs. Your candidate completion rate should be around 80% or higher. Or can you afford to lose more than 20% of your candidates on the way?