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Recruitment Metrics You Should Be Tracking: Extensive List

Kristina Martic | 4/24/2018 | Recruiting

There are many different HR and recruitment metrics created to measure and track every step of your recruiting process. Which ones should you be tracking? We created an extensive list of all recruitment metrics you could ever need!

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Intro

What are recruiting metrics?

Recruiting metrics are standardized measurements of your recruiting process.

Recruiting metrics are used to monitor, track and measure your whole hiring process.

Why should you track recruitment metrics?

Tracking recruiting metrics enable you to provide validated, data-backed evaluation of your hiring process.

Tracking recruiting metrics will tell you what which parts of your recruiting process work well, and which don’t. 
That way you can recognize and establish your best recruiting practices, but also spot bottlenecks and issues that need to be dealt with.

This is why HR professionals use hiring metrics – to make better and more informed decisions and find and hire the ideal job candidate easier and faster.
According to LinkedIn research, HR teams who track and measure recruiting metrics are 2 times more likely to find talent faster and more efficiently.  

In short, recruiting metrics provide valuable insights into the efficiency and effectiveness of your recruiting process.
Based on this insights, you will gain a deeper understanding of your recruiting process, which will enable you to improve it. 

Recruiting-metrics-importance

Tracking recruiting metrics will tell you how you spend your time and money in your recruiting process and what can you do optimize your spending and improve your whole hiring process.

Types of recruitment metrics

There are many different HR and recruiting metrics created to measure and track every step of your recruiting process and evaluate every aspect of your hiring methods and practices.

To make the list of recruitment metrics easier to understand, we structured them into 6 main categories:

  1. Recruitment Marketing metrics
  2. Hiring Velocity metrics
  3. Hiring Expenses metrics
  4. Hiring Quality metrics
  5. Hiring Source metrics
  6. Referral metrics

Each of these 6 main categories f recruitment metrics consists of subcategories that contain specific recruitment metrics.
In the following text, we will provide an overview of all the 6 main recruitment metrics categories and a brief explanation of every subcategory and its specific recruitment metrics. 

1. Recruitment Marketing metrics 

Recruitment_Marketing-Metrics

➡️ Definition 

Recruitment Marketing metrics is a group of recruitment metrics that measure the results and effectiveness of your Recruitment Marketing strategy.

➡️ Importance 

Tracking these recruitment metrics can show you how successful you are in promoting your company’s Employer Brand and attracting candidates to apply for your open positions.

1.1. Employer Branding metrics

Employer Branding metrics will tell you is your company perceived as a desirable employer.

1.2. Candidate Experience metrics

Candidate experience metrics will tell you how satisfied candidates are with your recruitment process.

1.3. Career Site metrics

Career site metrics will tell you how effective is your career site in turning your career site visitors into applicants.

1.4. Application Form metrics

Application Form metrics will tell you how effective is your application form in turning your career site visitors into applicants.

1.5. Recruiting Email metrics

Recruiting email metrics will tell you how successful are your recruitment email campaigns.

1.6. Landing Page metrics

Landing page metrics will show you statistics related to each of your special campaign landing pages (for example, the landing page for your recruitment event, the landing page for your company blog, talent networking landing page, job opening landing page, etc.).

1.7. Social Media Metrics

Social Media metrics will show you how successful is your social media recruiting strategy.

2. Hiring Velocity metrics

Hiring-velocity-metrics

➡️ Definition
Hiring Velocity metrics is a group of recruitment metrics that measure the speed and duration of your hiring process. In other words, this metrics will tell you how long does it take you to find and hire candidates.

➡️ Importance
Tracking these recruitment metrics can show you how quickly can you fill your company’s open positions.

2.1. Pre-application metrics

2.2. Post-application metrics

3. Hiring Expenses metrics

Hiring-expenses-metrics

➡️ Definition
Hiring Expenses metrics is a group of recruitment metrics that measure the cost of your hiring process.

➡️ Importance
Tracking these recruitment metrics can help you plan your recruiting budget and optimize your spending so you can achieve the best result while spending less money.

3.1. Pre-application metrics

3.2. Post-application metrics

4. Hiring Quality

Hiring-quality-metrics

➡️ Definition
Hiring Quality metrics is a group of recruitment metrics that measure the quality of the candidates you hire.

➡️ Importance
Tracking these recruitment metrics will help you find out if you are hiring the best people for your job openings and your company culture.

4.1. Employee Performance metrics

4.2. Employee Satisfaction metrics

4.3. Cultural fit

4.3. Hiring manager satisfaction

5. Hiring Source metrics

Hiring-source-metrics

➡️ Definition
Hiring Source metrics is a group of recruitment metrics that measure where your candidates come from.

➡️ Importance
Tracking these recruitment metrics will help you find out which sources/channels (such as job boards, referrals, social media, etc.) bring in most qualified candidates.

5.1. Quantitative metrics

5.2. Qualitative metrics

6. Referral metrics

Referral-metrics

➡️ Definition
Referral metrics is a group of recruitment metrics that measure the results and effectiveness of your employee referral programs.

➡️ Importance
Tracking these recruitment metrics can show you how engaged and successful your employees are in promoting your open job positions.

6.1. Employee metrics

6.2. Alumni metrics

Should you track all of these recruitment metrics?

Seeing this extensive list of all these recruiting metrics can be quite intimidating.
But don’t worry - you don’t have to track all of them! 

In fact, this is exactly were beginners who are just getting started with HR analytics and data-driven recruiting make the biggest mistake.
They try to track too many recruitment metrics and get lost in the process. 

Trying to comprehend and analyze all of these recruiting metrics gets them stuck.
This is what we call “analysis paralysis”.
It means that you spend most of your time analyzing your recruiting process, instead of improving it. 

Remember, tracking recruiting metrics should be a way to improve your recruiting process, not a goal per se.

Which recruitment metrics should you be tracking?

We recommend starting with a few basic recruitment metrics.
Cost per hire, time to hire and quality of hire are most commonly referred to as the top 3 key recruiting metrics. 

However, these top 3 traditional recrutiment metrics are not enough anymore.

Recruiting has changed. It now incorporates marketing, too.
Today there is a whole new area of so-called recruitment marketing that also needs to be captured and measured.
This is why we strongly suggest you start tracking at least some of these recruiting marketing metrics, too.  

Tracking these basic metrics will give you an insight into the overall success of your recruiting process.
Once you get comfortable with them, you can slowly add new ones to gain a deeper understanding of each of your recruiting stages and strategies.  

Every recruiting metrics you add to the list of the ones you decide to track and measure should be problem-oriented.
For example, if your time-to-hire shows that your recruiting process is taking way longer than the industry standard and has negative effects on your recruiting outcomes and overall business results, you can add additional metrics to inspect it.
By adding additional metrics such as time your candidate spends in each stage of your recruiting process, you can spot the bottlenecks and optimize them. 

We will repeat once again: measurement should always be in the function of improving.
Keep that in mind and you’ll be fine, we promise. 

Now go on and start measuring! 🙂
And don’t worry, we’ve got your back.  

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Checklist of Most Important Hiring Metrics & Tips for Improvement

Checklist of Most Important Hiring Metrics & Tips for Improvement

Chekc out our checklist of most important hiring metrics you should be using to measure your hiring and recruitment efforts.
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Further reading

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