Measuring the success of the recruiting process is as important as conducting the recruitment process for any client organization. However, the process of measuring the success is a challenging one and this is the reason the recruitment companies in Germany shy away from measuring the success of their recruitment process. Also, measuring as well as reviewing each and every aspect of recruitment in order to determine whether the process was a success or a failure will leave no time to plan the next recruitment exercise.
But, if certain key metrics are selected and the success is measured based on those parameters, one can easily understand whether the recruitment campaign was a success or a failure. These metrics, tests the quality and efficiency of the recruitment efforts poured in by the recruiter in conducting the recruitment process for an organization.
Have a look at the key metrics which are deployed by the top headhunting company in Germany to measure its success quotient:
Turnaround Time For Making The Recruitment
The length of time which elapses between the job position opening and filling up of the seat with the right person matters a lot. By measuring the average time required to fill in the particular job position and the time actually taken for making the recruitment can give an idea whether the recruiter is able to meet the expectations of the hiring manager.
Aging Of Requisitions
In order to evaluate the effectiveness of the recruitment team, it is important to track and monitor the aged requisitions. Having the zero aged requisitions is commendable, getting a 10-20 % of requisitions, which are beyond the 45 days period is also quite normal. By keeping a track and reporting the number as well as the percentage of the aged requisitions, the recruiters can easily identify as well as solve the problem before it even arises.
Present To Interview Ratio
Bringing a whole lot of candidates in front of the hiring manager is of no use if the hiring manager does not like any of them. A key metrics come in the form of ratio of the candidates presented to the client organization to the number of candidates actually selected for the interview. Anything less than 75% selected may be considered as a cause of concern. But the reason can be many, including high expectation of the hiring manager or not giving a proper brief of the candidate’s job profile which leads to incompetent candidates being presented to the client.
Interview To Offer Ratio
This ratio measures the number of candidates interviewed by the Hiring Manager to the number of candidates actually hired. The ideal ratio is less than 3:1 i.e. every 3 interviews should result in at least 1 hire.
Any ratio higher than this indicates that poor candidates have been submitted to the recruiter or the hiring manager failing to evaluate the candidates. A poor ratio leads to a lot of wastage of time for both the hiring managers as well as recruiters.
Measuring the overall success of the recruitment exercise, gives you a fair understanding of the entire recruitment process and also will make you learn from your mistakes which if prevented in the future can result in great campaigns.