Would you like to improve your HR controlling? Or set it up properly? Are you still wondering which key indicators are relevant for you in recruiting? There are a few important key indicators in recruiting which you should determine and follow up on. This is essential if you want to keep an overview of how your recruiting process is performing and actively influence the success of your recruitment processes. We compiled the most essential key indicators in this article for you.
Before you start determining key indicators, you should take the first step by asking yourself: What do I want to improve and achieve? What kind of information will help me with this?
We compiled the most topical and important key indicators in recruiting for you here ranging from general key indicators to specific key indicators at an advanced level of HR controlling.
HR controlling: General KPIs
Time to hire
Time to hire is the most prevalent and important key indicator you should specify. Time to hire starts on the day on which it is known that an employee will leave the company and ends when a new employee fills that position.
Cost per hire
This term refers to the costs for each hire. It is thus a very important key indicator for recruiting. You can find out the exact financial expenditure for filling a particular position and know what to expect for future staffing.
Number of applications per year
This key indicator gives you an overview of the status of your currently received applications per year.
Number of applications per position
This key figure tells you how many applications you ultimately received for the position.
Number of qualitative applicants per position
This number shows you how many of the applications you received that were actually appropriate and qualitative.
Origin of applicants per position
You can find out where your applicants come from with this key indicator. This lets you know which channels you can find suitable candidates from in the future and which channels you may skip.
Number of visitors on the career site/career portal
Here you need to differentiate between visitors and visits. A visitor is someone who clicks on your job portal. A single visitor may visit your job portal multiple times, which is then counted as a new visit.
Number of leads in the talent pool
The leads in your talent pool have already stated their interest in your company. You can inexpensively recruit employees from your talent pool.
Advanced level KPIs
Cost per application according to channel
This key indicator makes it possible for you to organize your costs in detail. You get an overview of the costs of the specific channel.
Clicks on the job advertisement
Based on this number of clicks, you find out how many applicants were interested in your job advertisement and viewed it.
Clicks on the apply button
This number gives you an overview of how many applicants read your job advertisement and were so convinced by it that they started the application process.
Job advertisement cancellation rate
The cancellation rate for the job advertisement results from the difference between the number of visitors to the job advertisement and the number that actually started application processes.
Application process cancellation rate
This cancellation rate for the application process results from the difference between the number of started applications (number of clicks on the apply button) and the number of actually received applications. Talention automatically calculates this key performance indicator for you. A problematic cancellation rate is over 50% and indicates that the application process/application form for your job advertisement is not attractive to the candidates. It should therefore be adjusted and generally shortened.
Talention automatically compiles all of the data about your recruitment processes in the background. You don’t have to change any settings. The most important KPIs are presented to you in clear dashboards and reports so that you can quickly recognize a potential for optimization and make the corresponding improvements.
We’d be happy to show you what the compilation of key indicators and preparation in clear reports and dashboards can look like for your company during a personal meeting. You can request a free demo here.
Check out our page "The Ultimate Guide to Recruitment Analytics and KPIs" to find further resources on the topic of recruitment analytics and KPIs.