In a world where immediacy is the order of the day, HR teams face the challenge of improving the efficiency and effectiveness of their processes.
Measuring success in talent selection processes through recruitment KPIs is essential to optimize results.
We are going to mention the most relevant and strategic KPIs that will help us to improve the recruitment strategy (and some tips to improve them).
These are the most relevant recruitment and selection KPIs
Time of contracting. With this indicator we measure the time from the opening of a vacancy to its closing with the hiring of the candidate.
A long recruitment process can lead to loss of interest from candidates. Tips to improve it: you can seek support from an AI recruitment and selection tool.
This will help you to reduce the hiring time with the help of AI and a team of specialized consultants. Quality of hire. This indicator, also known as quality of hire, measures the value that a new employee brings to the company.
It can be monitored through different channels such as job performance and team satisfaction. Tips on how to improve it:
- Define the objectives and selection criteria.
- Seek collaboration between managers/executives involved in the position.
- Conduct performance evaluations of new employees.
Retention rate. This recruitment KPI measures how long employees stay with the company during a given period. Tips to improve it:
- Work on the constant improvement of onboarding.
- Ensure that the candidate is well trained and has a good fit with the company’s culture.
- Offer recurring development and training programs.
4. Hiring cost. It is very important to measure the cost of incorporating more employees into the company’s workforce. Tips to improve it: you can use a SaaS platform with integrated AI to:
- Automate processes.
- Evaluate the return on investment in recruitment.
- Reduce the cost of procurement and speed up the process.
5. Offer acceptance rate. This KPI measures the percentage of candidates who accept a job offer.
A low acceptance rate may indicate problems with salary offers, benefits or perception of the company. Tips to improve it:
- Conduct market research to offer competitive salaries.
- Improve the value proposition.
- Transmit the company’s culture and benefits.
KTI, the tool you need to improve your recruitment KPIs
In short, in order to be competitive in the labor market, it is necessary to work with advanced recruitment and selection tools, such as, for example, gamification in human resources.
At Key Talent Indicator we take care of improving all your recruitment KPIs in record time, without bias and in an objective way.
Do you want to know more? Contact us.
