What are the top 11 recruiting KPIs for 2024?

The top 11 recruiting KPIs for 2024:

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1. Time-to-fill (TTF): Average time taken to fill open positions from the job requisition date to the candidate's start date.

• Importance: Reflects recruitment efficiency and responsiveness to hiring needs.

2. Cost-per-hire (CPH): Total cost incurred to hire a candidate, including recruitment advertising, agency fees, and internal recruiting costs, divided by the number of hires.

• ‍Importance: Measures the financial efficiency of the recruitment process.

3. Quality of hire (QoH): Assesses the performance and contributions of new hires to the organization over time.

• Importance: Indicates the effectiveness of recruitment in selecting candidates who meet job requirements and contribute positively.

4. Offer acceptance rate (OAR): Percentage of job offers accepted by candidates.

• Importance: Reflects the attractiveness of the organization as an employer and the effectiveness of the selection process.

5. Retention rate (RR): Percentage of new hires who remain with the organization after a specified period.

• Importance: Measures the ability of recruitment to select candidates who fit culturally and professionally, reducing turnover.

6. Source effectiveness: Evaluates the performance of different recruitment sources in terms of the number of qualified candidates hired from each source.

• Importance: Helps allocate resources effectively to the most productive recruitment channels.

7. Candidate experience rating: Measurement of candidates' satisfaction with the recruitment process, often gathered through surveys or feedback.

• Importance: A positive candidate experience enhances employer brand reputation and attracts top talent.

8. Diversity hiring rate: Percentage of diverse candidates hired relative to the total number of hires.

• Importance: Demonstrates commitment to diversity and inclusion goals, enhancing organizational culture and innovation.

9. Time-to-productivity: Average time it takes for new hires to reach full productivity levels in their roles.

• Importance: Indicates the effectiveness of onboarding and training processes, impacting organizational performance.

10. Recruiter efficiency ratio: Ratio of successful hires to the number of candidates sourced or screened by recruiters.

• Importance: Measures recruiter productivity and effectiveness in identifying and selecting qualified candidates.

11. Employer brand strength: Measurement of the organization's reputation and attractiveness as an employer, often assessed through surveys or industry rankings.

• Importance: Influences the ability to attract top talent and retain employees, impacting recruitment success.