Recruitment metrics help you gauge the effectiveness of your recruitment process. Here are frequently asked questions and answers about recruiting metrics to help you understand recruiting data and use it to boost your hiring:

Intro to Recruiting Metrics

Intro to Recruiting Email Metrics

More Recruiting Metrics

  • Recruiting costs FAQ: Budget and cost per hire
  • Time to fill and time to hire metrics FAQ
  • Recruitment process effectiveness metrics FAQ
  • Candidate experience metrics FAQ
  • Job offer acceptance rate metrics FAQ

Intro to Recruiting Metrics

What does KPI mean in recruitment?

KPI stands for Key Performance Indicator and it can be used in any field or business function to measure performance. In recruitment, key recruiting metrics refer to the important factors related to the hiring process that you should consistently examine. For example, the speed with which hiring teams make a decision may be a KPI for a company that values quick turnaround and does mass hiring.

What are recruiting KPIs?

How do you measure success in recruitment? Recruiting KPIs (or hiring metrics) measure how effective and efficient your recruitment process is. Some metrics are expressed as percentages or ratios (e.g. yield ratios), while others are absolute values that you can compare to industry or company standards (e.g. time to hire.) Use them to discover how well your recruitment process works and identify where you could improve.

What can you learn from recruitment metrics?

Recruitment metrics can answer any question you want them to. At a high level, you probably want to know the quality, cost and productivity of your hiring process. More specifically, you could ask the following questions:

Which are the 6 most important hiring metrics to track?

There are many available KPIs, but what are some common recruiting metrics? Usually, companies choose to track the following recruiting metrics examples:

If you want to dig deeper recruiting metrics that matter, add metrics like application completion rate, hiring manager satisfaction or new hire turnover. Choose metrics based on your company’s individual needs.

How can I have better visibility into the best recruiting metrics??

Most recruiting metrics are easy to calculate, but hard to keep track of. The first step is to determine what kind of data you need to monitor. Then, you could invest in an Applicant Tracking System (ATS) to track your preferred metrics automatically via a recruiting metrics dashboard and generate reports. Alternatively, business intelligence tools (e.g. Tableau) can collect the recruiting analytics you need.

Looking for better reporting analytics? IWA’s reports will refine your recruiting process. Sign up for our 15-day free trial.

Who should be tracking recruiting metrics?

Recruiters or HR are usually in charge of tracking recruitment metrics. If your company doesn’t have a dedicated recruiting team, executives could monitor metrics for their respective departments and functions. Hiring software, like an HRIS or ATS, can help you collect relevant data.

How do I calculate recruiting metrics?

To calculate various recruiting metrics, use the following process:

To get you started, here are the most common formulas you can use for recruiting metrics that matter:

Common Quality of hire formula:

QoH index = (PR + HP + HR) / 3 where:
PR: Average job performance of new hires (e.g. 80 out of 100 based on quantifiable targets or hiring managers’ feedback)
HP: percentage of new hires reaching acceptable productivity within a determined period
HR: new hire retention rate after a year

See more about calculating quality of hire.

Cost per hire formula:
CPH = (Internal recruiting costs + External recruiting costs) / Total number of hires

See more about calculating cost per hire.

Common Time to fill formula:
Time to fill = Number of days between opening of a position until candidate accepts the job offer

For average time to fill, you add all times to fill from different positions and divide them by the number of positions.

See more on calculating and benchmarking time to fill metric in recruiting.

Offer acceptance rate:
Offer acceptance rate = Number of offers accepted / Total number of offers %

See more on calculating offer acceptance rate.

Common qualified candidates per hire formula:
Qualified candidates per hire = average number of candidates who were found to be qualified in each hiring process after the initial screening phases (e.g. screening call, resume screening)

See more on benchmarks for qualified candidates per hire.

If you’re interested in more detailed recruitment metrics examples and benchmarks, check out our complete guide.

What recruitment metrics should matter most to a Talent Acquisition team?

Corporate recruiters can use almost every metric to help them improve the recruiting process, though some recruiting metrics will be more useful than others.

Here are examples of the best metrics for recruiters:

Recruiting teams can track many more metrics. Ultimately, what you choose to measure depends on your company’s unique goals and needs.

Which metrics should matter most to an external recruiter?

External recruiters are usually evaluated on two fronts:

Tracking quality of hire and time to fill over time can help recruiters determine whether they are delivering value to their clients. For example, if their time to fill starts increasing, then they may need to revisit expectations with hiring managers or try new sourcing techniques.

What hiring metrics should matter most to HR?

The HR department has a common strategy and budgets for every function, including recruiting. A VP of HR needn’t delve into the mechanics of the recruiting process, but they are likely interested in metrics that indicate recruiting success. Those include:

Source of hire measures how many qualified candidates or hires each recruiting source brings in. HR needs to know which sources are most effective in a given period (e.g. a year), so as to rethink its partnerships and external spend.

Which recruiting metrics matter most to the CEO?

CEOs are interested in the strategic impact of recruiting. Metrics that are concerned with business value and promote action are the most useful. For example:

  • Quality of hire. This metric encompasses performance and retention rates of new hires. Retention and high performance increase revenue and are important on a strategic level.
  • Actual hires to hiring goals. This metric shows what percentage of hiring goals hiring teams met. It indicates how well the entire recruiting function works.
  • Diversity goals. This metric measures what percentage of diversity goals were met or the percentage of diverse hires. If increasing diversity is an important company objective, then this metric can say a lot about your company’s success.

What metrics should I track when working with an external recruiter?

When working with external recruiters, you can still use corporate recruiting metrics (e.g. actual hires to goals), but you should also think about how you’ll specifically measure the external recruiter’s success. Usually, you’ll want to ensure that they provide quality candidates as quickly as possible. You could measure:

How do I increase the number of job applicants?

If you need to bring more candidates into your talent pipelines, aim to attract more people to your job openings and encourage them to apply. To achieve both of these goals, you could:

  • Advertise in both niche and mainstream job boards.
  • Enhance your sourcing by using various techniques (e.g. social media recruiting, Google and Boolean search.)
  • Hire a recruiting agency that will provide you with qualified resumes.
  • Create a short, straight-forward and mobile-optimized application process.
  • Ensure your careers page has useful information for candidates (e.g. benefits, culture, perks.)

How do I increase the number of qualified applicants?

Here are ways to attract more qualified applicants:

Introduction to Recruiting Email Metrics

What are recruiter email metrics?

Recruiter email metrics measure the impact that recruiters’ emails have on candidates. If your emails are attractive, informative and aimed at the appropriate candidates, then candidates are more likely to open, click though and reply to them. Here are four recruiter email metrics:

Recruitment metrics: Email open rate formula
Email open rate formula
Recruitment metrics: Email response rate formula
Email response rate formula
Recruitment metrics: Recruitment email click-through rate
Click-through rate formula
Recruitment metrics: Email conversion rates
Interview conversion rate formula

How do you measure recruiter email metrics?

Email response rateYou could collect the data manually. For example, if you sent 20 cold emails and interviewed five candidates as a result of those emails, your email-to-interview conversion rate is 5/20 = 25%.
Email conversion rate
Email open rateYou could use dedicated email tracking tools (e.g. Hubspot Sales, Newton.) These tools notify you when a candidate interacted with your email (e.g. opened your email, clicked on a link or viewed an image.)
Click-through rate

Just count emails that were delivered, since candidates can’t respond to emails they didn’t receive.

More Recruiting Metrics FAQs:

leave a Comment