Ultimately, your recruiting program is the basis for your company’s long-term success. Without hiring the best and brightest candidates for every position, you may find there are gaps in knowledge or performance. So how do you measure the success of your recruiting program in order to make improvements? There are several easy-to-track metrics that can help you see the big picture of your hiring process. The most common is time to hire, but there are some others that may make a difference as well. Let’s take a closer look.
- The time to present a candidate. From the time the job requisition is opened to the time the first candidate is presented, how long is that? What does that length of time indicate? There may be a variety of reasons. The recruiter may not be prioritizing the job or there may be aspects of the job that are difficult to find. It may be helpful to look at this number for each open position.
- Feedback from hiring managers. How long does it take your recruiter to get feedback from the managers making the hiring decisions? The time it takes to provide feedback is also critical to the hiring process. Candidates don’t always wait for jobs, so if they don’t hear back, they may move on. If the feedback takes too long, the hiring managers may miss out on the best candidates.
- How long jobs are open. Do you notice any patterns? Do specific hiring managers or departments take longer to react than others? How many candidates do they have to go through before they make a hiring decision? Who is doing the job while the position is unfilled?
- Resume to interview. Another length of time to evaluate is how long between the resume presentation and the scheduling of interviews. This may also fall under hiring manager feedback, but it specifically refers to the next action being taken. How long does it take to schedule an interview and are all of the candidates still available?
- Interview to offer. From the interview, it’s also important to take a quick look at the time between your interviews and the offer. How many people does the hiring manager review and meet with? Are they waiting to see more resumes and interview more candidates? Do they say things like “I’ll know it when I see it.” All of these things can affect the recruiting process.
- Rate of acceptance. Finally, once a decision has been made, how many of the top candidates are accepting their positions? Once you know this rate, you can look back at the other metrics to see where the missing cog in the machine might be. If you have all of your top candidates taking the job, your process might be fine. But if you see a pattern of making offers and job seekers not accepting, it’s critical to start over and take another look.
Do you want to improve your time to hire?
At Professional Staffing Group, we partner with our clients to ensure their recruiting needs are being met at a high level. Contact us today to see how our services can benefit your business.