Recruitment – Key Performance Indicators (KPIs) and Measures of Success

22 06 2010

Many businesses fail to measure and evaluate the success (or failures) of their recruitment campaigns.  As such they can waste time, money and effort in seeking to attract and recruit top talent to their teams.  Similarly, many businesses measure the success of a recruitment campaign on short-term insights,  rather than following a sustained resourcing strategy. Here I’d like to consider how measure the success of your recruitment strategy in a few short and simple stages:

1) Decide what’s important – What are you seeking to achieve here and ?  How does this fit with the corporate vision/people strategy?

2) How will you know if you’ve been successful? Will you have reduced spend?  Increased productivity?  Reduced attrition?  What else?  Decide what good looks like and introduce RAG reporting for a visual confirmation of activities. (red for Warning, amber for Almost, green for Good, platinum for Excellent)

3) Who’s your audience? It’s a fact, the soonest you start giving people insights into recruitment and what you’re doing, they will have their own views and opinions and will ask for more information.  Scratching the statistics surface can be time consuming, particularly in retrospect, so it’s important that you decide early on what you’ll measure (and what you won’t) and who you’ll share this with.

4) When and how often? Monthly reporting provides a short term picture of what you’ve achieved.  Build this into a quarterly and annual report and you will get a much clearer indication of trends and key successes.

5) What to measure? This largely depends upon what you can measure, particularly if you are recruiting without the benefit of an ATS (applicant tracking system). The following list should help you work out what to look at at a broad level, and also to unearth trends and spot opportunities or issues.

  • Permanent vacancies as a percentage of overall business headcount
  • Total number of permanent vacancies
  • % of open vacancies without offers
  • Average Cost of Hire
  • Length of time to hire
  • Number of temps in the business
  • Source of job offers made
  • Retention rate of employees during first three, six and twelve months.
  • Management rating of new hire after six months

There are many other measures and KPIs which you could include within this.  Perhaps you’re already using them?  If so please do use this page to share.  Next time we shall consider Measures of Success for Recruiting using Social Media.

For an informal chat about how we can help with your recruitment, please get in touch with Michelle on 01202 853647 or email us at info@creative-leadership.co.uk

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