Key Metrics for a Recruitment Dashboard

In the arena of Recruitment, the Recruitment Dashboard plays a vital role in the hiring process. The Recruiters leverage positive recruiting metrics on their dashboard to handle and keep track of the recruiting process in every stage. This recruitment dashboard is used by the recruiters in order to improve the efficiency and measuring success because hiring is one major domain that always has scope for constant improvement.

Recruitment dashboard leverage analytics on a variety of factors that aid in the hiring process and help in developing new strategies that impacts the organization towards a better management perspective.

Let us take a look at some metrics that can be used in the recruitment dashboard. Based on these metrics, you could use different tools in the hiring process for your business.

Noted Recruiting Metrics for a Recruitment Dashboard:

1. No of Applicants per Job Opening:

This is a great metric for measuring your job popularity. It gives an idea on, how many people are applying for the job and how many resumes are going to the next level of interview process.

Also, this metric helps to predict certain factors like narrowing down your job description that redirects to suitable candidates for applying for the open position.

2. Prediction of Cost Per Hire:

Cost management during a hiring process is an efficient way to allocate your spending. Some of the HR metrics with the ‘cost per hire’ helps to predict,

• Recruitment Time Cost.
• Cost of Hiring Manager and Employees involved in the hiring process.

3. Quality of Hire:

This recruiting metric is ideal to know whether the person appointed is good for the organization. This can be achieved by measuring the performance during the 1-year time period of the hire. Low rating indicates it as a bad hire and based on this, the actions are carried out to overcome the issue.

4. Tracking the Source of Hire:

Why do organizations need to track the source from where the candidates are approaching for the job opening? Smart recruiters use the source of hire and use the top channels such as LinkedIn, Job Advertisements and other Social Networks.

•  Track the number of applicants from each source.
•  Knowledge will be gained on; how many were qualified for the next level from each channel.

 5. Job Satisfaction of the Candidate:

Use this metric to analyze the employee’s satisfaction with their new position based on the realistic experience from the employees. This helps to transform the experience into perspective for the employees to have a better job satisfaction with the organization.

Conclusion:

The Key metrics used by the organization in the recruitment dashboard help to analyze the hiring process in every possible way to improve the efficiency of the hiring process and get quality candidates for their open position.