Key Performance Indicators, also known as KPIs, are business metrics that are normally used by organizations to measure the effectiveness of their performance. Whether you are running a Technology stack, a Sales team, an Operation unit, or any other function, it is important that you evaluate factors that are crucial to the success of your organization.
Recruiting is no different. When your organization is on the look to hire industry’s best talent, it is equally important that you ensure that you measure specific KPIs that will provide you with a clear and a concise indication of your recruitment performance; before and after the recruitment is completed.
At My Recruiting Team, our core values are centered around excellence, professionalism, and transparency. Therefore, we strongly believe that it is vital that our business partners receive KPIs that will allow them to understand the effectiveness of our recruitment.
Below are some of the KPIs that we measure for our business partners:
- Total Number of Open Vacancies
- Open Vacancies as a Percentage of Overall Annual Headcount
- Percentage of Open Vacancies without Offers
- Average Cost-of-Hire
- Length of Time-to-Hire
- Interview-to-Offer ratio
- Offer-to-Acceptance ratio
- Internal vs. External hires
- Candidate Submittal Accuracy
- Retention Rate
- Management Rating of New Hire
Failure to measure and keep track of these KPIs will ultimately result in detrimental consequences to an organization’s performance, which would only add-up to your business’s ongoing costs.
We will closely work with your organization to ensure that these, and any additional KPIs, are tracked and measured per your business needs.
At My Recruiting Team, we want to be your trusted recruitment business partner.
To learn more, please feel free to contact us for additional detail.Share This: