There Are 23 Hiring Metrics You Should Understand

Understanding hiring metrics is crucial for optimizing recruitment processes and making informed decisions. Here are 23 key metrics to grasp:

1. Time-to-Fill: Measures the time taken to fill a job vacancy.
2. Cost-per-Hire: Calculates the average cost incurred to fill a position.
3. Quality-of-Hire: Evaluates the effectiveness of new hires based on performance and retention.
4. Applicant Satisfaction: Gauges candidates’ experience during the application process.
5. Offer Acceptance Rate: Measures the percentage of job offers accepted by candidates.
6. Candidate Sourcing Channel Effectiveness: Assesses the performance of different recruitment channels.
7. Applicant-to-Interview Ratio: Tracks the number of applicants needed to schedule one interview.
8. Interview-to-Offer Ratio: Measures the number of interviews conducted before extending an offer.
9. Offer-to-Acceptance Ratio: Determines the effectiveness of offers in attracting candidates.
10. Applicant Drop-off Rate: Identifies the stage at which candidates disengage from the hiring process.
11. Candidate Pipeline: Tracks the number of qualified candidates in various stages of the recruitment process.
12. Time-to-Start: Measures the duration between offer acceptance and the start date.
13. Diversity Hiring Metrics: Monitors progress in hiring candidates from diverse backgrounds.
14. Employee Referral Rate: Calculates the percentage of hires that come from employee referrals.
15. Retention Rate: Tracks the percentage of employees retained over a specific period.
16. Source of Hire: Identifies the channels through which successful hires were sourced.
17. Offer-to-Acceptance Time: Measures the time taken by candidates to accept an offer.
18. Cost-per-Interview: Calculates the average cost associated with each interview conducted.
19. Requisition-to-Hire Ratio: Evaluates the number of job requisitions against actual hires made.
20. Application Completion Rate: Measures the percentage of applicants who complete the entire application process.
21. Job Satisfaction Metrics: Assesses the satisfaction levels of employees post-hiring.
22. Time-to-Productivity: Determines how long it takes for new hires to become fully productive.
23. Candidate Experience: Evaluates candidates’ perceptions and experiences throughout the hiring process.

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