KPI in recruiting / key figures in recruitment
KPIs allow you to measure the success of your recruitment processes. Optimize your recruiting process with analysis of key recruitment metrics. This article summarizes the most important recruitment KPIs and lists ideas for improvement.
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What are recruitment metrics: Definition
Recruitment KPIs (also called KPI = Key Performance Indicator) allow you to analyze your recruiting process from different angles. The measured key figures enable you to uncover potential for improvement.
Why are KPIs important in recruiting?
Key figures are an important tool in all areas to become aware of strengths and weaknesses and to initiate optimizations if necessary. Recruitment controlling is no exception.
On the one hand, recruitment KPIs enable you to improve the candidate experience. Because with a fast and high-quality recruiting process, applicants will get a good impression of your company. In the current “war for talents” and “shortage of skilled workers”, this is becoming increasingly important.
On the other hand, these key figures give you a deeper insight into your internal processes. This enables you to provide sound justification for improvement measures and any budget requests.
The most important recruitment key figures at a glance
Time to Hire
How long does it take from job posting to filling?
Time to Interview
How long does it take to get to the first interview after application receipt?
Time to internal response
How long do employees (superiors, recruiter, etc.) need on average to provide feedback?
Costs per hire & Cost per application
How much does it cost to fill a position or each application received?
Application Funnel & Channel Effectiveness
How many candidates make it to the second, third and each subsequent round? Through which advertisement channel have dossiers been received?
Other key figures
The above list is not exhaustive. Two other metrics that are often mentioned are as follows:
- Offer acceptance rate: How many applicants accept when you offer them the job?
- Cost-of-Vacancy: How much does an unfilled position cost you?
Evaluation & analysis of recruitment key figures
The collected key figures can now be analyzed from different angles.
Recruitment metrics give you deeper insight into your recruiting process. In addition, the KPIs enable you to evaluate potential for improvement and measure the success of implemented measures.
In this article, we have primarily focused on quantitative key performance indicators – i.e. KPIs based on clearly measurable numbers. However, also keep an eye on the qualitative or soft factors (satisfaction, etc.).
In order to be able to calculate all these key figures, a good database is necessary. Whether you keep an Excel list for this purpose or rely on E-Recruiting-Software, high-quality evaluations can only be created if this data is recorded cleanly and completely.
Download KPI Excel Template
For an easier calculation of the recruiting metrics, we have created an Excel template for you as a download, which contains all the above metrics.