To guarantee the implementation of your recruitment marketing technology is a long-term success, it is critical to document and share key performance indicators (KPIs) and understand how to appropriately measure the success of your candidate relationship management (CRM) programs.
Top recruitment metrics every TA team should know
Adoption is not one-size-fits-all. However, the 82% who struggle with adoption challenges link to poor planning and evaluation of success metrics.
To avoid the same adoption curve, analyze the situation and dig into the metrics of adoption success. Today's talent acquisition leaders can benefit significantly from recruitment marketing tools that capture and analyze data. Having that information at hand dramatically reduces the guessing game involved in hiring, helps you understand how your team is performing, and lets you deliver the personalized, candidate-centric experience that attracts and retains the right hires.
Additionally, having recruitment metrics saves HR professionals time and effort that's better put toward fostering relationships.
(To learn more about the shifting recruitment marketing industry and how to attract people in today's worker economy, download the ultimate guide to recruitment marketing for the new talent landscape).
What are the top recruitment marketing metrics your team should know?
- Application Completion and Drop-Off: Knowing the number of started applications versus the number completed is key to understanding your pain points as a company and identifying areas that need improvement.
- Channel Efficacy: Understanding top-performing job boards ensures your team uses their time and budget wisely.
- Hiring Costs: Having a solid answer to the cost of individual versus collective hires helps you make informed decisions about budget allocation based on precise, identifiable results.
- Offer Acceptance and Rejection Rates: Breaking down metrics that detail the number of offers accepted versus offers extended reveals is valuable Ñ particularly if the acceptance rate is low.
- Ratio of Open Jobs to Filled Positions: Gaining insight into the number of open jobs versus those filled (particularly in relation to recruiter or job category) lets companies adjust their approach to reduce vacancies and raise the number of filled positions.
A quick list of CRM KPIs
- Talent Network information
- Total Network size
- Number of profiles added
- Segmentation - Profiles by location, Profiles by Areas of Interest
- Profile details downloadable to .csv
- Messages Overview Report details the performance of each email campaign
- Relationship Marketing KPIs:
- Emails Delivered
- Bounce Rate
- Email Opens
- Email Clicks
- Open Rate
- Applications attributed to emails sent
- Hires attributed to emails sent from