5 recruitment KPIs you need to know

In a highly competitive business environment, recruiting skilled talent is […]
Un homme et une femme regardant les KPIs de leur entreprise sur un ordinateur

In a highly competitive business environment, recruiting skilled talent is essential not only to ensure the growth and success of a company but also to maintain its competitive edge. However, the recruitment process can be complex and costly, which is why it is crucial to measure and optimise its performance. Recruitment Key Performance Indicators (KPIs) are valuable tools that allow companies to assess the effectiveness of their recruitment efforts and identify areas for improvement. By tracking the right KPIs, companies can make informed decisions, reduce costs, and attract the best talent.

1. Time to hire

Recruitment time measures the average time taken to fill a vacancy, from the publication of the job advert to the hiring of the candidate. A recruitment time that is too long can lead to additional costs and a loss of productivity for the company. It is therefore important to monitor this KPI and put in place strategies to speed up the recruitment process, without degrading its quality. A well-written job advertisement can be a crucial lever for optimising recruitment time: 7 points not to forget in your job description.

2. Recruitment costs

The cost of recruitment covers all the costs associated with the recruitment process, such as the cost of publishing advertisements, external recruitment costs, candidate travel costs, etc. It is essential to monitor this KPI to ensure that recruitment costs remain reasonable and profitable for the company.

3. Employee retention rate

The employee retention rate measures the percentage of employees who stay with the company over a given period. A low retention rate may indicate problems in the recruitment process or in human resources management. It is important to monitor this KPI to identify potential causes of departure and implement effective retention strategies.

4. Quality of hire

Quality of hire is a qualitative KPI that assesses how well new employees perform in their role. It can be measured by performance appraisals, feedback from managers or colleagues, or by the success rate of employees during their probationary period. High quality of hire is essential to the productivity and success of the business.

5. Applicant conversion rate

The candidate conversion rate measures the percentage of candidates who successfully complete each stage of the recruitment process, from application to job offer. A low conversion rate may indicate problems in the recruitment process, such as a poor job description or unrealistic expectations.

Recruitment KPIs are essential tools for measuring and optimising a company’s recruitment performance. By tracking the right KPIs, companies can identify areas for improvement, reduce costs, and attract the best talent. That said, it’s important to choose the KPIs most relevant to your business and adapt them to your recruitment objectives and strategy. In addition, regular analysis of these KPIs will help your company remain competitive and stand out in the job market.

Read also