New Hiring Metrics That Matter

Good recruiting involves evaluating the recruitment and hiring process as a whole and understanding how several factors determine the condition of your hiring and recruiting plan, program and strategy. Facing these challenges ourselves isn’t as cut and dry as putting up a bulb in a dark room to find the perfect hire for your workplace. “I’ve learned over the years that, when you have really good people, you don’t have to baby them. By expecting them to do great things, you can get them to do great things. –Steve Jobs,”

Recruiting data has proven to be a gift for an organisation that needs improvement in its recruiting efforts and processes. The data that comes from measuring recruiting metrics will help recruiting teams identify where and exactly how they can make changes to create improvements. 

 Talent acquisition remains one of the strongest challenges for employers.

Hiring the best employees is a priority for every organisation. Studies show that bad hires can cost businesses 6-7% of their expenses. Implementing data-driven recruitment strategies is crucial for your organisation to start tracking key recruiting metrics.

Time to fill:  Referred to as the time taken for a job to be filled after an opening is posted about it. While some jobs are inherently difficult to fill, some are not! Having a data point allows you to know how quickly your company can fill up an opening. When properly noted, your company’s efficiency and responsiveness towards new hires can provide data points for a better positive candidate experience. 

Onboarding: the real work only starts after the employee is hired; 20% of quits happen in the first 45days, which means you’ll have to start from the beginning again. Having a comprehensive, detailed and engaging onboarding process can help set employees up for success and stay in an environment that makes them joyous. 

Promoting diversity and inclusion: the importance of building a diverse and inclusive group of people and welcoming them into the workforce is now more important than ever. It’s necessary to have goals set around diversified hires as a more inclusive workforce provides a wide array of ideas and experience. 

Growing internally: Promoting employees from within the company to fill-up openings is a win-win situation. It puts people in a position where they already know the entire company’s culture and environment. Also gives all employees to stay with the company and work full-fledged to grow.