11 SMART Recruitment Goals every HR should know

Data-driven Recruitment Strategy with SMART Goals & KPIs empowers Recruitment Team to hire Stellar Talent

What are Recruitment Goals?

Help validate Hiring Strategy & Decisions to evolve Recruitment Process

– Current process strengths     & shortcomings – Clear, actionable goals on    hiring talent & recruitment      spend – Helps build a stronger     DE&I workforce & Brand     Image

SMART Recruitment Metrics

– Specific, Measurable, Achievable,      Relevant and Time-bound metrics – Aligns to a clear hiring objective &     action plan – Actionable goals with KPIs enable      optimization of recruitment      process

Now here are the  Top 11  SMART Recruitment Metrics

#1 Applicant traffic

– Volume of applications/profiles received     against an open position – Indicates appeal of Employer Brand &     Job posting

#2 Time-to-fill

– Time taken to hire against an open position or     as a replacement for attrition – Shows efficacy of hiring team to predict     hiring & set talent pipelines

#3 Time-to-hire

– Time taken for a candidate to traverse through     the recruitment process – Impacts the candidate experience

#4 Diversity ratio of candidates

– Enables creation of a great work culture with     inclusion and fairness – Insight into workforce demographics &     inclusion practices

#5 Source of hire

– Track volume & quality of talent procured from    diverse sources – Enables creation of a robust talent pipe-line

#6 Offer acceptance rate

– Percentage of candidates accepting the offer     from the total offers made – Helps identify key process failure points & root     causes for offer declines

#7 Cost-per-hire

– Average cost of hiring talent - ratio of total     recruitment spend to total no. of hires – Cost of internal & external hiring - referral,        training, advertisement costs

#8 Cost of open position

– Cost incurred/money lost due to position not     being filled on time – Helps hiring team prioritize open     positions hiring

#9 Quality of hire

– Ratio of hires who have positively contributed     to the business and culture – Insight into effectiveness of the hiring     sources & hiring process

#10 Attrition rate

– Average turnover or churn of employees in a     given tenure – Enables deep-dive into reasons for churn,     especially first year attrition

#11 Candidate NPS

– Candidate feedback on surveys for all stages       of recruitment – Reflective of candidate experience & indicates     likelihood of endorsement or referral