4 Recruiting Funnel Metrics You Should Be Measuring
4 Recruiting Funnel Metrics You Should be Measuring
By Cammas Freeman
When it comes to sourcing and hiring, an effective recruiting funnel is key to ensuring that your talent strategy is successful. But without the right data, many recruiters and HR managers don’t have the information they need to understand and enhance their talent acquisition efforts.
If you are new to recruiting analytics, the following list highlights 4 common recruiting metrics that you can start measuring today:
#1: Applicant Conversion Rate on Your Careers Page: Conversion rate is the metric that refers to the percentage of visitors to applicants. Conversion rates on an organization’s careers page should be at least 11 percent. If your metrics are below 11 percent, meaning that not enough web visitors are applying for jobs once they’ve visited the site, this is a great opportunity to take a deeper look at your careers page and implement some changes that will better engage future applicants.
#2: Time to Fill: Time to Fill is an important metric that many organizations use to measure the number of days from the time the job requisition is posted to when the offer is finally accepted. This metric is often used to measure the effectiveness of recruiters within an organization. Take the time to capture and evaluate this data across multiple positions and departments to learn more about your company’s recruiting funnel and where it can be improved.
#3: Source of Hire: Knowing what recruiting source your candidates come from is powerful information that can inform and enhance your talent strategy. Source of Hire data can provide insight and information regarding where a company can reduce costs, better allocate their marketing and advertising budget, and which recruiting programs and tools to invest in.
#4: Application Time: A lengthy and complex application process is a good way to deter candidates from applying. Filling out numerous job applications, especially if they are employed, is time consuming and frustrating for job seekers. Creating a quick, simple process to collect the critical information will convert more applicants. After you’ve determined they are qualified, you can gather additional details as you move forward in the interview process.
Want to learn more? Stackrock Talent is ready to help you optimize your talent strategy to attract, engage, and hire the right talent for your company. Email us at cammas@stackrocktalent.com.
