Top 2023 Recruitment Metrics
Recruitment metrics and benchmarks provide valuable insights into the effectiveness and efficiency of your recruitment process. Over the years, we’ve seen recruiting metrics come and go but only some have stood the test.
Based on the benchmarks that our clients track and additional industry research, we’ve compiled a list of the Top 5 Recruitment Metrics that matter when measuring your success.
- Time to fill: This is the time period between a position opening and when it is filled.
- Cost per hire: The overall cost to recruit a candidate and any costs incurred within the time to fill period.
- Quality of hire: This metric is portrayed as the overall value new hires bring to an organization. This metric will speak directly to the effectiveness of your internal recruitment team and hiring managers’ abilities to select the right candidates.
- Source of hire: This metric indicates what percentage of candidates entered the pipeline from your various recruitment channels.
- Pass-through/drop-off rate: The percentage of candidates that will convert to each round of the recruitment process. This metric will directly reflect your overall candidate experience that your company provides
All the metrics above are critical to efficiently attract and hire the best, brightest candidates. If you are interested in learning more about the value behind recruitment metrics, or how to implement them within your organization, reach out to our team today!
In the meantime, stay tuned for our next blog on “How To Improve The Top 5 Recruitment Metrics for 2023.”