Recruiting Analytics

June 14, 2010 by Byron West
Filed under: Recruiting 

A survey conducted by The Adler Group asked recruiters and recruiting managers to choose their top key metrics to determine a recruiting team’s success.  It is important to know the rate of success of an RPO; many organizations lack the knowledge to understand.  Using certain key metrics gives the organization values that can be compared.

  1. Candidates interviewed compared to number presented
  2. Candidates interviewed per hire
  3. Number of candidate interviews set up by recruiter by week or month
  4. The use of web trends to track ad performance
  5. Quality of candidates hired by recruiter and by manager
  6. Quality of candidates by sourcing channel
  7. Time to hire
  8. Candidate on-the-job performance compared to predicted performance
  9. Turnover by position
  10. Turnover by manager

Also organizations should have obtainable expectations from an RPO.  Many organizations make the mistake of having unrealistic goals, and are often left disappointed in the outcome.  Best in class RPO’s have typical results that include:

Higher offer acceptance rate- Overall 90% acceptance rate

Higher new hire retention rate- 55% improvement in new hire

Time-to-fill- 60% reduction in time to fill

Higher staffing efficiency ratio- Significantly increases

Lower cost per hire- Reduce it by 48%

Quality of candidate- 97% improvement

Hiring manager satisfaction- 67% increase in hiring manager satisfaction

*Aberdeen Group report “RPO in 2009”

It is important for an organization to know what key metrics to use to follow the success of the RPO. Knowing how to measure can lead your organization to increased ROI as well as time saving.

Tags:

Comments

Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!