Query from a SHRM Member
I belong to the recruitment team of an organization. Could you guide me on how we can we measure the effectiveness of our resourcing process?
Response from our Panel of Experts
Given the impact talent acquisition has on organizational success, it is critical to track certain metrics to assess the same. There is a time tested principle that is applicable in this case “If you can’t measure it, you can’t manage it.”
Metrics can be measured, tracked and analyzed internally by the HR function. Also, many independent consulting organizations conduct rigorous evaluations of recruitment efforts of organizations.
Some recruitment metrics include:
• Time to Hire
• Cost of filling a position
• New employee retention rate
• Hiring Manager’s satisfaction with the recruitment process
• Applicant’s perceptions of the recruitment process
For formulas and more details on these metrics refer:
-HR Metrics Toolkit
(Refer Cost per Hire , Time to Fill, Turnover Cost, Yield Ratio)
Managing outsourced partners related to the function is also critical. HR executives know they can't simply hand off recruitment activities to an outsourcing partner and forget about them. The challenge is finding the most effective and appropriate ways to measure and evaluate the performance of the recruiting firms they use.
For these relationships to yield optimum results, HR and its vendors must work closely to identify key performance goals and metrics while remaining flexible enough to make changes to the relationship—and their expectations—in response to changing needs and market conditions.
The defined metrics and tools should do more than just measure the process outcomes. The insights from the measurement should provide HR practitioners insights that can improve talent management decision making thereby improving organizational effectiveness.
Additional information in the form of Articles / Toolkits from our resource base that you may find helpful are below:
-HR Metrics Toolkit
(Refer Cost per Hire , Time to Fill, Turnover Cost, Yield Ratio)
-Recruiting Metrics – the Rules Have Changed
-Measuring HR: Developing Your Recruitment Metrics
