Quality of hire, time to hire and cost per hire.
There are a number of metrics that are underutilized in recruiting. One of the most underutilized metrics is the number of quality candidates that are not being hired. This metric can be used to identify a number of different areas where a company may be losing potential top talent.
A second underutilized metric is the time to hire. This metric can be used to identify inefficiencies in the recruiting process. For example, if a company takes an average of four weeks to hire a candidate, but the average time to hire for the industry is two weeks, this metric can help identify where the company is losing time in its recruiting process.
A third underutilized metric is the cost per hire. This metric can be used to identify how efficient a company is in its recruiting efforts. For example, if a company spends an average of $5,000 per hire, but the average cost per hire for the industry is $3,000, this metric can help identify where the company is spending too much money in its recruiting process.
There are a number of other metrics that are underutilized in recruiting, but these are three of the most important. By utilizing these metrics, companies can identify areas where they are losing potential top talent, identify inefficiencies in their recruiting process, and identify where they are spending too much money in their recruiting process.
10 future jobs that are going to shake up recruitment.
The recruitment industry is one which is positioned to change drastically, these are the most impactful trends of 2023.