Hiring Metrics
Written by
Tiffany ClarkAbout the Author
Tiffany is an experienced workforce development expert with extensive experience in the public sector, course development, and online learning.
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The VidCruiter Editorial Team offers practical recruitment advice, drawing on insights from seasoned professionals. Our award-winning content, supported by industry specialists, underscores VidCruiter's dedication to innovation in recruitment.
Last Modified
Apr 17, 2024Hiring Metrics
Hiring metrics are measurements and data points used to optimize and analyze an organization’s hiring process. By employing the use of hiring metrics, a company can track and measure the effectiveness and success of its hiring and recruitment efforts.
A comprehensive list of the most frequently used hiring metrics includes:
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Referrals from current employees
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Application completion rate
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Time in process
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Candidate call-back rate
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Number of candidates per hire
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Interview-to-hire ratio
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Candidate diversity
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Source of hire
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Sourcing channel effectiveness
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Sourcing channel cost
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Recruitment funnel effectiveness
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Offer acceptance rate
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Fill rate
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Cost of hire
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Time to fill
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Net promoter score
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Satisfaction rate
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Retention rate
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First-year attrition
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Turnover rate
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Recruiter performance metrics
By gathering, tracking, and analyzing the hiring metrics most relevant to its organization, a company can determine where recruitment budgets should be allocated and how recruiters can best focus their time.
Example:
According to a 2022 survey by PwC, HR tech investments account for 28% of a company’s total HR operating expenses. Businesses of all sizes can maximize their hiring budgets by closely tracking recruiting and hiring metrics. For example, a small business with a limited budget can track metrics such as sourcing channel cost and cost of hire to determine where its hiring manager should spend their time in future recruiting efforts.
Related Terms
Recruiting Metrics
are data points and measurements used for analyzing and optimizing an organization's hiring process. Using recruiting metrics, recruiters and managers can track and measure the effectiveness of the company's hiring process. Recruiting metrics are sometimes called hiring metrics.