Measuring Quality of Hire: Common Recruitment Metrics in the Staffing Industry
The recruitment life-cycle metrics consists of statistics that help an individual determine how fast a Recruiter and Hiring Manager are moving through a recruitment process. The goal of the recruitment process is to successfully find and hire an individual for an employment position. The best way to determine if someone’s recruitment strategies and tactics are working effectively (or needs improvement) is by measuring the process.
At ALTA IT Services, we pride ourselves to be the best, in order to do that here are some metrics we try to live up to that we found to be the most successful (internally and across the industry).
Days to Contact Candidates
At ALTA, we value speed – we keep in mind that the best applicants have multiple opportunities in consideration and are often quickly off the market, so we try to respond to applicants within 24-hours.
Days to Present a Candidate to a Hiring Manager
In order to provide a fast-hiring process, a recruiter should take less than 24-hours to submit a candidate to our Client.
At ALTA, we pre-screen all our candidates and make sure they have expressed interest and have agreed for their details and resume to be sent out to a Hiring Manager. As part of this process, we take time to understand the candidate’s situation, review their qualifications, discuss salary and package(s), as well as discuss the opportunity with them. We ensure that we take the proper due diligence before presenting a candidate for the role.
Days for the Hiring Manager to Review Candidates
The review stage should be within 48-hours in order to have a fast-hiring process.
A partnership between a recruiter and the hiring manager can be truly successful if both parties have a common goal: agree on priorities and expectations, be comfortable working together, and give each other feedback. As a result, the recruiter can better understand how to solve the client’s needs rapidly and effectively.
At ALTA, our Account Managers help to improve this process by setting up an in-depth intake meeting with the Hiring Manager to better understand their needs before and during the recruitment process. As a result, this develops a stronger relationship between both parties. It has assisted ALTA when marketing candidates that we believe would be an excellent fit for a company but have no current openings.
Days for a Hiring Manager to Interview Candidates
The interview stage should be no longer than 72-hours in order to not lose candidates.
Many of the best qualified candidates are quickly applying and interviewing for opportunities. As a result, they get off the market quickly. Therefore, it is important to stress the urgency to both Hiring Managers and candidates to arrange interviews within the 72-hour timeframe.
At ALTA, we take time to understand the candidate’s availability as well as provide them with an action plan as what to expect after their resume is sent to the Hiring Manager, so that we are not going back and forth between parties to schedule an interview.
Days for the Hiring Manager to Make an Offer After an Interview
At ALTA, we encourage our Hiring Managers to make a quick decision within 24-hours. Recruiters are trained on how to stay aware of candidate expectations throughout the recruitment process. This allows ALTA to provide a consultation service to Hiring Manager if they know the candidate has doubts or will not accept the initial offer.
Time to Hire
The time to hire metric measures how long the hiring process takes. It starts when the position is posted until the position is closed. This metric varies based on the difficulty of the position.
Roles that are more common could take less than 30-days to fill. This could include a wide variety of roles including IT professionals, software developers, engineers, or data scientists.
Roles that are highly specialized (hard-to-fill roles) could take 60-days or up to a year. These skilled professionals who can fill these roles naturally experience high demand and are harder to recruit in a short timeframe.
Conclusion
These recruitment metrics are great to monitor how effectively a recruitment process is (or if it needs improvement).
It is important to highlight that staffing company recruiting metrics may significantly differ from internal-recruiting metrics. ALTA has a high-level of expertise in recruiting, screening, and placing individuals in both temporary staffing and permanent employment positions which is why we are a great resource to help recruit and place individuals in full-time positions.
ALTA Recruiters often bring insight and skills to the recruitment process based on role-specific experience and qualification. Our Recruiters become knowledgeable of the job market as they engage with candidates on a daily-basis. This knowledge can be used to educate the Hiring Manager or candidate if their expectations are unattainable. This attribute is also helpful since the IT industry is rapidly evolving and growing, it requires a high-quality yielding recruitment process which we are able to provide.
Other ALTA Blogs Relevant to this Topic:
The Day in the Life of an ALTA IT Recruiter by Melissa McNally
The Candidate Experience: Why It’s Important by Joey Miller