Read on to learn about the hiring metrics that are critical for TA success and ways you can help your team improve these metrics.
Why are hiring metrics important in talent acquisition?
Metrics are critical for measuring success and identifying areas of improvement across the hiring process for TA teams.
You can use the data to understand which areas that you or recruiters on your team could benefit from learning additional skills, to identify new tools or processes that will help alleviate burdens, or to enable you to better communicate and share information across your organization.
Hiring metrics can also help you gain insights into how well your employer brand is resonating with potential candidates and identify areas where you can improve engagement and community building efforts.
Key hiring metrics to know
General hiring metrics
- Time to fill: the time from job requisition to job acceptance
- Time to hire: the time from when the eventual hire entered the talent pipeline to the time they accepted an employment offer
- Time to source: the time to hire minus the time to fill
- Number of interviews: how many candidates were interviewed for a specific job
- Number of hires: the rolling number total across your team for a specific time period
Brand and community hiring metrics
- Talent awareness score: the number of emails delivered for a specific job posting
- Engagement score: the number of emails opened for a specific job posting
- Candidates added to Talent Community: the number of interested leads in a job posting
Key hiring metrics controlled by Visage
When using sourcing and engagement tools like Visage, or other tech platforms that assist your team with recruitment, it’s important to understand how you can track the impact of the platform and its ROI for your team’s success and overall satisfaction. These metrics will affect your overall hiring metrics and change over time with how well the platform is performing or being utilized.
- Time to first calibration batch: the time from the job posting to receiving the first review of candidates
- Time to first lead: the time from the job posting to the first candidate reply
- Time to objective reach: the time from the job posting to achieving the interview goal
Using Hiring Metrics to Optimize your Recruitment Process
Once you have identified your key hiring metrics, you can use them to evaluate your team’s performance and identify areas for improvement.
For example, if you notice that your time to fill metric is consistently high, you may want to review your recruitment process to identify any bottlenecks or areas that could be streamlined. Similarly, if your number of hires is low, you may want to evaluate your sourcing strategies to identify opportunities for improvement.
Optimizing your recruitment process with the right data can have a significant impact on the success of your talent acquisition team. Understanding key hiring metrics and how they affect your team’s overall performance is essential to identifying areas for improvement and implementing strategies that help your team meet their goals. By utilizing technology platforms such as Visage, and measuring the impact of these tools on your recruitment metrics, you can make data-driven decisions to improve your recruitment process and ultimately achieve better hiring outcomes.
To learn more about sourcing and hiring metrics and how to optimize your recruitment process, get a demo.