Any company, regardless of what sector it belongs to, can testify to the fact that its function is its primary asset. This goes without mentioning that a business can't exist without its workers. That is precisely the reason it's essential to employ the ideal people for the available positions in any corporation. Recruitment, consequently, plays a massive part in the overall achievement of business goals, whatever the size or tenure from the professional realm. These quantifiable figures are required the current performance of the business against its targets and objectives. With recruitment metrics in place, it could then be much easier to ascertain whether or not the recruiting practices in the area are aligned with business goals and objectives.

It's common to come across various kinds of metrics in almost any business. But all of them, across all sections, they have a common aim - and that's getting the work right. In the event of recruitment metrics, they exist to ensure the people behind the Human Resource Department are better informed in selecting the very best candidate for some position. HRDs of organizations may have distinct recruitment metrics in their scorecard since it's inevitable for those enterprises to have different goals and objectives. Nonetheless, there are some common ones that you may discover across businesses and companies. Below are a few of the various recruitment metrics.

Cost per hire is one recruiting metric that's been used for quite a while now. According to the name itself, that metric pertains to the costs involved in hiring individuals for every open position. You need to see that the hiring procedure will not include expenses. Every time there's an open job position in the business, the HRD would need to pay out funds merely to fill that position once more. These costs can be classified job ads posted, or it might be in the type of training expenses. There is, in fact, no general formula to use in regards to calculating hiring prices. Long-term costs aren't precisely considered. After all, you've yet to discover whether the hired candidate would be productive in the long term.

Time to fill refers to the duration of time that it requires for your HRD to locate and hire the best candidate for some position. Most of you might not understand this, but you will find associated costs while the position was left vacant. As an example, if the open job position is the web content writer, then the business would be missing the output of a more web content writer on the team. It is expensive, and that's why HR recruiting needs to be quick, yet still capable. Becoming fast doesn't mean that you must be hasty in making choices that you could wind up hiring the wrong person. This implies extra costs too.

These are merely a few of the widely used recruitment metrics for recruiting. If you'd like more of them but don't know where to find them, go right ahead and check the net. You'll undoubtedly see a lot of resources which may give you a hand.

Author's Bio: 

Supriya Nigam is a lead Content Writer & Digital Marketing Strategist at CareerBuilder India. Her passion for helping people in all aspects of digital marketing flows through in the expert HR Technology industry coverage she provides. Also, an avid Yoga practitioner.