Data-Driven Recruiting Metrics
Posted: Wed Jan 08, 2025 3:55 am
Another great tactic for building a data-driven recruiting strategy is to set up structured, consistent and measurable interviews. This will help you with the previous tactic of candidate scoring but will also help you tie this data to the performance of the employee once they’re hired.
To Do: Once you’ve set up a structured interview process (consistent set of questions, metrics and rating scale that are used in every interview), you can look back at your high performing employees interview responses so you can build out benchmarks for making future hiring decisions. You’ll start to notice patterns amongst your top performers, and they most likely exhibited they would be a top performer from the get go. So get to digging!
Candidate to Employee Conversion Rates — With so many channels that candidates georgia whatsapp phone number come from, you need to be tracking which channels bring in the most conversions. Many make the mistake of focusing efforts on the channels that appear to bring in the most applicants, but not the ones that result in the most hires. For example, social channels may be driving in 500 applications a day, but if the conversion from candidate to employee is low, then spend can be decreased or reallocated to a higher performing channel.
Candidate Pipeline Speed — From the time a candidate first interacts with your brand to the moment they become a new hire, there are many stages that need to be tracked.
Sourced Candidates to of Applicants Ratio
of Applicants Ration to of Candidates Screened
Candidates Screened to of Candidates Interviewed
of Candidates Interviewed to of Candidates Who Made it to the Second Round Interview (and so on)
of Candidates from Interviews to of Offers
of Offers to of Acceptances
of Acceptances to of New Employees in Onboarding
Identify slow moving funnels and gather feedback from your internal team and candidates to find solutions for making those stages faster.
Hiring Stage Conversion Rates — This is similar to the previous metric, but has to do more with completions throughout each stage instead of time. Again, you’ll track the same stages:
Sourced Candidates to of Applicants Ratio
of Applicants Ration to of Candidates Screened
Candidates Screened to of Candidates Interviewed
of Candidates Interviewed to of Candidates Who Made it to the Second Round Interview (and so on)
of Candidates from Interviews to of Offers
of Offers to of Acceptances
of Acceptances to of New Employees in Onboarding
However, you’ll be able to track things like candidate drop off rates. For example, if your offer to acceptance conversion rate is extremely low, you’re probably wondering why you’re losing so many candidates near the end of the cycle? You can look back at your times to see if the interview to offer funnel is more lengthy, which could be giving the candidate more time to interview other places and make a decision to go elsewhere. But if that stage of the funnel is extremely short, you can likely rule out that time isn’t a factor and it could be something within your actual offer.
To Do: Once you’ve set up a structured interview process (consistent set of questions, metrics and rating scale that are used in every interview), you can look back at your high performing employees interview responses so you can build out benchmarks for making future hiring decisions. You’ll start to notice patterns amongst your top performers, and they most likely exhibited they would be a top performer from the get go. So get to digging!
Candidate to Employee Conversion Rates — With so many channels that candidates georgia whatsapp phone number come from, you need to be tracking which channels bring in the most conversions. Many make the mistake of focusing efforts on the channels that appear to bring in the most applicants, but not the ones that result in the most hires. For example, social channels may be driving in 500 applications a day, but if the conversion from candidate to employee is low, then spend can be decreased or reallocated to a higher performing channel.
Candidate Pipeline Speed — From the time a candidate first interacts with your brand to the moment they become a new hire, there are many stages that need to be tracked.
Sourced Candidates to of Applicants Ratio
of Applicants Ration to of Candidates Screened
Candidates Screened to of Candidates Interviewed
of Candidates Interviewed to of Candidates Who Made it to the Second Round Interview (and so on)
of Candidates from Interviews to of Offers
of Offers to of Acceptances
of Acceptances to of New Employees in Onboarding
Identify slow moving funnels and gather feedback from your internal team and candidates to find solutions for making those stages faster.
Hiring Stage Conversion Rates — This is similar to the previous metric, but has to do more with completions throughout each stage instead of time. Again, you’ll track the same stages:
Sourced Candidates to of Applicants Ratio
of Applicants Ration to of Candidates Screened
Candidates Screened to of Candidates Interviewed
of Candidates Interviewed to of Candidates Who Made it to the Second Round Interview (and so on)
of Candidates from Interviews to of Offers
of Offers to of Acceptances
of Acceptances to of New Employees in Onboarding
However, you’ll be able to track things like candidate drop off rates. For example, if your offer to acceptance conversion rate is extremely low, you’re probably wondering why you’re losing so many candidates near the end of the cycle? You can look back at your times to see if the interview to offer funnel is more lengthy, which could be giving the candidate more time to interview other places and make a decision to go elsewhere. But if that stage of the funnel is extremely short, you can likely rule out that time isn’t a factor and it could be something within your actual offer.