Recruitment reports & data – what are they, and what should we be looking at?
Before diving into the numbers, it’s important to first understand which part of the recruitment lifecycle we’re looking at: which recruitment stage? what’s the purpose?
1) Application Stage
• Number of Applicants = Total Number of Applicants on a Job
• Source of Applicants = This analyses the recruitment channels applicants come from, and can often be presented as a percentage (e.g. 80% of candidates are from LinkedIn)
2) Between Stages
• How many candidates are passing through each stage? This will help to identify blockers and the issues. For example, are most candidates failing hiring manager interviews? Or is it at the technical assessments?
3) Offer
• Time to offer = Offer extended date – final interview date
• Time to accept = Offer accepted date – offer extended date
• Offer Rejection Rate = (number of rejected offers / total offers issued) * 100%
–> this is especially effective to assess both individual recruiters, as well as the overall team’s performance each year
4) Others
• Time To Hire = offer acceptance date from candidate – application date from that candidate
• Time To Fill = offer acceptance date from candidate – date that from date the JD is approved & posted
• Source of Hire: the sourcing channels that hired candidates are from
• Cost per Hire = total cost of recruitment, internal & external / total number of hires
• Fill Rate = Total number of jobs filled / Total number of job openings
The above list is non-exhaustive. There are many other metrics, such as quality to hire, attrition rate, and hiring manager/ candidate satisfaction. The above list only aims to cover key metrics during the recruitment process that are commonly used in most recruitment reports.