Recruitment Metrics

Recruiting metrics are a way for organizations to evaluate how worthwhile their recruitment efforts are. A recruiting metric might measure the success of a job ad or how efficient the hiring process is.

Several recruiting metrics are crucial for companies to understand, such as quality of hire and cost per hire. Each metric will tell them whether the amount of time and money spent is worthwhile.

Cost per hire is particularly important. A company can calculate it by dividing the total recruitment costs by the number of new employees. This number tells recruiters exactly how much they spend on each hire. Then, the company can decide whether the amount of money spent is made up for in the number of new employees.

Time to fill takes the average number of days between the day the role is required and the day the role gets filled. Rather than measuring the cost, it measures just how efficient the hiring process is. The longer it takes to fill a position, the less effective the recruitments efforts are.

Another useful recruitment metric is the quality of hire. This metric is all about the quality of new employees rather than the cost. No matter how low-cost or fast a new hire is for the company, if they don’t perform well at the company, the hire isn’t as worthwhile. This metric is not a simple calculation. Instead, HR evaluates it through the new hire’s performance reviews.