Important recruitment KPIs you need to know
1. Total number of applications/recruitment batch
This is an indicator used to measure the effectiveness of the company's recruitment communication campaigns. To get accurate estimates, you should calculate this metric separately for parts.
2. Percentage of qualified candidates
This metric is used to assess whether the targeting of recruitment campaigns is really good or not.
Percentage of qualified candidates = Number of qualified candidates / Total number of applicants
3. Effectiveness index of recruitment advertising campaigns
This index is calculated as total recruitment costs / total applications
This index is used to assess how much money you need to spend to bring in a candidate.
4. Average time to hire
This index is the average time from the time the company conducts the recruitment campaign to the time the candidate joins the probationary period.
5. Effective recruitment resources
This metric is calculated based on the required number of cvs from recruitment sources for each campaign. Based on the above indicators, employers can measure and optimize recruitment plans for companies.
What prevents HR from exceeding recruitment KPIs?
"Overeating" recruitment channels
Choosing the best and most reliable communication channels to "send" recruitment information is extremely important.
In fact, there are many businesses that do not understand how to use the media, constantly making requests to post on many different recruitment channels, leading to difficulties in screening, saving information storage of candidates.
Monitoring and updating information also face many obstacles because it is impossible to arrange and prioritize responses to candidates in a timely manner, so it is easy to overlook many potential faces for the company.
Takes too much time
In the past, HR departments had to use "rude" tools or, worse, were forced to filter emails and CVs of candidates every day manually without the support of the staff. software.
Recruiters often have to manually separate each candidate's email and CV carefully. However, this method takes too much time, is both laborious and easy to make mistakes such as missing records, accidentally deleting important files, greatly affecting the company.
Scheduling interviews is difficult
The issue of scheduling has always been one of the biggest problems not only with the recruiting department but also with other departments.
Current businesses have not optimized this process because they still use human resources to arrange schedules, leading to frequent forgetting or duplicated appointments by candidates.
Inaccurate assessment of candidate's ability
The collection and storage of information is not done centrally, which leads to difficulty in optimizing the process of assessing the real capacity of candidates or many qualified and potential candidates are ignored or judged wrong price.
3 Ways to help HR accomplish the most effective recruitment KPI
1. Traditional method Excel, Word
In the past, recruiters often used tools such as Excel, Word to track and update information of candidates.
The storage on these tools is simple and easy to manipulate, but it takes a lot of time and effort because it has to be done entirely by human resources. Therefore, this method is still not optimally effective in managing the recruitment process.
2. Method of “digitizing” with Google Calendar, Docs, Sheet
Following the flow of the 4.0 era, now Google Calendar, Docs, Sheet are extremely popular tools in businesses.
With features similar to Excel, Word, departments in general and recruitment departments in particular often use these tools to arrange schedules, assign jobs, and track candidates' profiles.
However, the "digitized" method is said to be somewhat more convenient than the traditional method because it is easy to log in and use.
3. Digital transformation of recruitment process with HRM software
A set of intelligent HRM features can optimize the efficiency of the recruitment process by digitizing all tools, automatically updating and storing all records of each candidate.
- Owning the ASK framework helps to evaluate the qualifications of the candidates in the most fair and accurate way without having to spend too much time as before.
- Automate everything including updating and aggregating information. As a result, managers are no longer in a "passive" state in requesting a recruitment report.
- Reduce costs and reduce waste of human resources and labor for companies.
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