Recruiting metrics

Recruiting [[1]] are a standard set of measurements to manage and improve the process of hiring of candidates into and organization.

These recruitment metrics and key performance indicators fall into four main categories:

1. Speed
2. Quality
3. Cost
4. Productivity
5. Customer Satisfaction

Examples of each of the recruiting metrics and there definitions are:

Speed Metrics
Metric Type	Definition	Formula
Time to Fill (TTF)	The time it takes to identify and recruit a candidate or existing employee to fill a position within an organization. Fill is defined as the step in the recruiting process where the candidate has cleared the background and/or reference checks. This metric is generally used for the calculation and measurement of hiring external candidates vs existing internal employees within an organization.	The clock starts on the metric calculation the moment the Requisition (Job Order) is approved by the business and the clock stops on the metric calculation the moment the candidate clears the background (and/or reference) check. The metric calculation is in Business Days
Time to Accept (TTA)	The time it takes to identify and recruit a candidate or existing employee to accept a position within an organization. Accept is defined as the verbal or written acceptance of the job positon being presented	The clock starts on the metric calculation the moment the Requisition (Job Order) is approved by the business and the clock stops on the metric calculation the moment the candidate accepts the job offer (verbal or written). Calculation is Business Days
Time to Start (TTS)	The time it takes to identify and recruit a candidate or existing employee to start in the new position that they have accepted within an organization.	The clock starts on the metric calculation the moment the Requisition (Job Order) is approved by the business and the clock stops on the metric calculation based on the target (or actual) start date of the candidates first day on the job. Calculation is Business Days
Recruiting vs Business Consideration (RvB)	Compares how many business days the Recruiting function takes to identify and screen the candidate vs how many business days the business (hiring manager) takes to interview and hire the candidate. Calculation is Business Days	The first part of the calculation is the clock starts on the metric calculation the moment the Requisition (Job Order) is approved by the business and then stops once the recruiting function submits a candidate to the business for consideration (review). The second part of the calculation the clock starts when the recruiting function submits a candidate to the business for consideration (review) and the clock stops on the calculation the moment the candidate accepts the position (TTA)
Time in Workflow Stage (TWS)	Time a candidate spends in each of the workflow stages of the Applicant Tracking System (ATS) in business days. Example of standard ATS stages are: Candidate Application: Recruiter Screen: Submittal to Hiring Manager (Review): Business Interviews: Final Interview: Offer: Background Checks: Hire.	The clock starts on the metric calculation when a candidate first enters a workflow stage and then the clock stops on the metric calculation when that candidate leaves that workflow stage. Example: Candidate applies to a job opening (position) on January 1st and then is moved by a recruiter to the Recruiter Screen workflow stage in the ATS on January the 4th. The time in The Candidate Application stage is 4 days. Note: If the Candidate applied to the position on January the 1st which was a Friday and the recruiter moved them to the recruiter screen stage on the Monday, then the metric calculation is 2 days (The Friday = one day + Monday = one day)
Quality Metrics
Metric Type	Definition	Formula
Submittals to Business Acceptance Percentage (SBA)	Number of candidates that are submitted to the business by the recruiting function against the requirements of the position that are accepted by the business as a percentage	Example: Recruiting function submits 10 candidates to the business against the requirements of the role and the business accepts 7 that they want proceed to the next step of the recruiting workflow. SBA = 70%
First Year Quality (FYQ)	Compares a quality data point on the recruiting functions ability to present a quality number of candidates to the business/organization for consideration (review) as a percentage of those that the business accepts to proceed forward in the recruiting workflow process in combination with the organizations ability to retain candidates that have started their new position and are still with the organization after their first twelve months of employment. Attrition is defined as employees who have left the organization either a) On their own accord or b) Were terminated from employment from that organization within the first twelve months of employment. Also referred to unmanaged or managed attrition.	Number of candidates submitted to the business from the recruiting function that they accept as a percentage + percentage of candidates that do not leave (Retention) in their first twelve months of employment divided by these two data points. Example: Data Point 1: Recruiter submits 10 candidates to the business who accepts 8 = 80% submission quality. Data Point 2: In the previous fiscal year, 10% of candidates hired left the organization within their first year of employment = 90% Retention. 80% + 90% = 170 divided by two data point indicators = 85% First Year Quality (FYQ)
Offer Acceptance Rate (OA)	Compares the number of candidates that are presented a written or verbal job offer vs the percentage of candidates that accept the job offer	Number of candidates presented the offer (verbal or written) who accept the offer as a percentage. Example: 10 Candidates are presented a job offer with 8 accepting the job offer = an 80% OA
Submittals to Hire Ratio (SHR)	A calculation that determines the number of candidates that are submitted to the business to produce a hire as a ratio. The more effective the recruiting function is as submitting quality candidates against the position requirement the lower the SHR ratio will be.	Number of candidates that are submitted to the business for consideration (review) divided by the number of hires as a ratio output metric. Example: Recruiting function submits 9 candidates to the business to review against the positon requirements resulting in 1 hire. SBA = 9:1
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Reference Language Definitions