The 5 Crucial Recruiting Metrics for Successful Hiring
Building a Remote Workforce

The 5 Crucial Recruiting Metrics for Successful Hiring

by Crossover
The 5 Crucial Recruiting Metrics for Successful Hiring
  • 1. Time to Fill
  • 2. Quality of Hire
  • 3. Cost Per Hire
  • 4. Candidate Experience
  • 5. Source of Hire

Which recruiting metrics will level-up your hiring game? Knowing the right metrics is how you will measure success in remote recruitment.

Today's tech world is fast paced, so tracking specific data is a big help when quickly and efficiently snagging the best people. A solid recruitment process is the best way to do it.

This article reveals the 5 crucial recruiting metrics that can supercharge your remote hiring process. 

These aren't just numbers – they're powerful insights into how well your strategies are working, and where they need a boost (when it counts most!).

1.     Time to Fill

This measures how long it takes, on average, from posting a job to welcoming a new team member. For remote teams, this is super important, as hiring can move at a different pace than in an office setting.

A speedy Time to Fill usually means you've got a smooth, digital-friendly process – a must in recruitment today. 

Companies that rock this metric often use sophisticated recruitment software and have a clear plan for finding the perfect person.

Why it matters: A shorter Time to Fill saves you money by shortening the hiring process and it keeps your team productive. Empty chairs are expensive! The average global Time to Fill is about 42 days, according to SHRM. Can you beat that?

2.     Quality of Hire

This goes beyond just how well someone does with the application process or on their first day. 

It's about how well they fit your company culture and whether they'll stick around and grow with you.

We measure this through things like performance reviews, how many people leave, and how happy your team is on a daily basis.

When hiring remotely, adaptability and independent work skills are key aspects of Quality of Hire. Sharpening your interview questions can help you find these rockstars.

Why it matters: Great hires boost productivity and keep your team happy. Everyone wins. LinkedIn says 40% of companies consider Quality of Hire their most valuable metric. Time to step up your game?

3.     Cost Per Hire

This adds up all the expenses of finding a new remote teammate, like advertising, recruiter platform fees, and the time your staff spends searching.

Don't forget indirect costs like lost productivity from empty positions. The key is to balance cost-efficiency with quality.

Remote hiring can sometimes save money on travel and in-person interviews, but you might need to invest in virtual recruitment tools. Tracking this metric helps you find ways to save without sacrificing quality.

Why it matters: Understanding your costs helps you budget effectively and make sure your hiring process isn't a money pit. Plus, without it how will you know your ROI?

4.     Candidate Experience

This is all about how candidates feel during the hiring process. From seeing your job ad, doing the CCAT tests, to the final interview (or virtual assessment!). Your recruitment team needs to know!

In a remote world, this includes things like how easy your online application system is to use, how clearly you communicate, and how smoothly your video interviews flow.

A positive experience can boost your employer brand, attract better candidates, and even save you money by encouraging more direct applications.

Why it matters: Happy candidates spread the word about your awesome company, attracting even more great talent.

5.     Source of Hire

This tells you which channels and platforms are the best at bringing in job seekers. It helps you find your most effective resources and understand the types and number of candidates each source attracts.

For remote roles, some platforms might yield candidates who are naturally suited to working from anywhere. Tracking this metric over time helps you stay ahead of job market trends and adjust your strategies accordingly.

Maybe you need to focus more on a specific social media platform, specific job postings or professional network?

Why it matters: This helps you allocate resources wisely and focus on the most productive ways to find your next rockstar.

These metrics aren't just numbers – they're powerful tools that give you deep insights into your hiring process. Start tracking them today and watch your recruitment efforts transform! 

You'll be landing top talent in no time, all while saving time and money.

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