TalentFier

How good was your last hiring process?
If you can't evaluate in numbers, well, it's a problem!

In this post article, we will help you to evaluate your hires through 6 metrics to assess your talent acquisition's effectiveness:

1. Time to Hire:
This metric is all about tracking the speed with which good candidates move within your hiring process once they’ve applied, allowing you to analyze a recruiting team’s performance.

2. Cost Per Hire
The cost per hire is a central topic when it comes to calculating and managing the recruitment budget. To calculate the cost per hire you need to sum all internal and external recruiting costs and divide them by the total number of hires.

3. Qualified Candidates Per Opening
This KPI is more meaningful than the number of applicants because it shows recruiters how good the candidates they’re attracting are. To calculate the qualified candidates per opening you simply need to divide the number of candidates selected for an interview by the number of candidates presented to the hiring manager.

4. Quality of Hire
Hiring quality employees means less turnover, more productivity, better culture, and greater overall success for the company. s quality is quite hard to evaluate, some quantifiable recruitment metrics can be used instead, such as new hire performance metrics, turnover, retention metrics,...etc.

5. Offer-Acceptance Rate
The percentage of job offers accepted is a good indicator of how well your hiring practices are working. And here is a tip: always use a survey to inquire candidates about the specific reasons behind their refusal.

6. Satisfaction rate
Although this metric often gets ignored, satisfaction ratings allow you to know how candidates are experiencing your hiring process. To measure it you can use surveys of candidates and new hires. This metric is essential to understand what may be causing high numbers of interview cancellations, no-shows, or high turnover rates in new hires.

Did you ever use any of these metrics before?
If yes, share with us your experience!

Acquiring new talents? hereby 7 qualities to look up to in your top talents! Which one do you agree with the most?