Recruiting

Open positions: Refers to the open job vacancies that are actively advertised and accepting applications in a given time range e.g., all positions that were open during one month, quarter or year.

Tracking open vacancies helps gauge talent demand and assess staffing levels for targeted recruitment efforts.

Reply rates: Refers to the percentage of candidates who respond to initial outreach messages or communication attempts from recruiters.

Tracking reply rates helps gauge the effectiveness of candidate engagement strategies and outreach efforts. High reply rates indicate strong interest and effective communication, while low reply rates may signal the need for improvements in messaging, targeting, or channel selection. Enhancing reply rates can lead to better candidate pipelines and more efficient recruitment processes.

Number of interviews conducted: Refers to the total count of individual interview sessions that have taken place within a specified time period.

Tracking the number of interviews conducted provides insights into the recruitment process efficiency and candidate engagement levels. It helps assess the effectiveness of sourcing strategies, interview scheduling, and overall hiring velocity.

Number of screening calls: Refers to the total count of initial phone or video calls conducted to assess candidates’ suitability for a job position within a specified time period, such as a week, month, quarter, or year.

Tracking the number of screening calls helps measure the efficiency of the early stages of the recruitment process. It provides insights into the volume of candidates being evaluated and the effectiveness of initial candidate assessments, helping to streamline recruitment efforts and improve overall hiring outcomes.

Recruiting Funnel: Refers to the count of candidates present at each stage of the recruitment process (such as application, screening, interview, offer, and hire) tracked over a specified period, and the percentage of candidates who successfully move from one stage to the next.

Tracking the number of candidates per recruiting stage over time provides insights into trends and patterns in the hiring process, helping to identify where candidates might drop off. Analyzing conversion rates in the recruiting funnel measures the effectiveness of each stage, highlighting strengths and weaknesses in recruitment strategies. Together, these metrics enable targeted interventions to optimize the recruitment process, improve efficiency, and increase overall hiring success rates.

Time to hire: Refers to the average duration taken to fill a position from the initial job posting to the acceptance of the offer by a candidate. 

Tracking time to hire helps evaluate the efficiency and speed of the recruitment process. It provides insights into the effectiveness of sourcing, screening, interviewing, and decision-making stages. Reducing time to hire can improve candidate experience, prevent losing top talent to competitors, and enhance overall recruitment effectiveness.

Compensation per position: Refers to the average salary offered for a specific job role.

Tracking compensation per position helps organizations ensure competitive and fair pay practices, align compensation with market trends, and manage budgets effectively. It provides insights into how compensation impacts talent attraction and retention, enabling data-driven adjustments to enhance overall recruitment and employee satisfaction.

Planned vs. hired: Comparison between the number of positions an organization intends to fill within a specified period and the number of positions actually filled during that period.

Tracking planned vs. hired helps organizations assess the effectiveness of their recruitment strategies and execution. It provides insights into potential gaps in hiring goals, enabling better workforce planning and resource allocation. Understanding this metric helps organizations adjust their hiring processes to meet staffing needs and business objectives more effectively.

New hire retention: Refers to the percentage of newly hired employees who remain with an organization after a specified period, such as 30, 60, 90, 180 days, or one year.

Tracking new hire retention helps organizations evaluate the effectiveness of their onboarding processes and overall employee satisfaction. High retention rates indicate successful integration and engagement of new hires, while low retention rates can highlight issues in recruitment, onboarding, or workplace culture. Improving new hire retention can lead to reduced hiring costs, increased employee morale, and better overall organizational performance.

People

Performance data: Refers to the assessment of individual and collective performance within different departments or functional areas of an organization, measured using relevant key performance indicators (KPIs) over a specified period.

Tracking performance across departments helps organizations identify strengths, weaknesses, and areas for improvement within each department. It enables comparisons between departments, facilitating resource allocation, talent development initiatives, and strategic decision-making. Analyzing performance data across departments can lead to enhanced operational efficiency, collaboration, and overall organizational success.

Tenure of employees: Measures the length of time that employees have been continuously employed by an organization. 

Tracking tenure of employees helps organizations understand workforce stability, turnover rates, and employee loyalty. It provides insights into retention efforts, career progression opportunities, and overall organizational culture. Analyzing tenure data can inform strategies to enhance employee engagement, reduce turnover, and foster long-term relationships with employees.

Cost per hire: Refers to the total expenses incurred by an organization to fill a vacant position, including recruitment advertising, agency fees, employee referral bonuses, hiring events, travel expenses, and other recruitment-related costs, divided by the number of hires made within a specified period.

Tracking cost per hire helps organizations evaluate the efficiency and effectiveness of their recruitment processes. It provides insights into the financial implications of different sourcing methods, candidate selection techniques, and hiring strategies. Analyzing cost per hire enables organizations to optimize recruitment budgets, streamline processes, and improve overall hiring ROI.