So you want more data and analytics in your recruiting function, but you're not sure where to start...
Allow me to assist. One of the metrics that is time-tested and true once you really start measuring every open job in your company is the recruiting funnel. The portion of the recruiting funnel that really matters is what your hiring managers see. With that in mind, the funnel looks like this:
Submittals (the candidates you formally present to hiring managers for consideration)
Interviews (who the hiring manager interviews)
Hires (if you need me to define this one for, please stop reading)
I was all about the hiring funnel long before I became more focused on recruiting at Kinetix. As a part of the Kinetix team, I have access to tons of data across a bunch of different companies, thousands and thousands of hires per year.
Want to know what the hiring manager portion of the recruiting funnel says across all that data? Great! Here you go:
In a company that does more than 50 hires per year, the aggregate recruiting funnel looks like this: We submit 6 candidates, you interview 3 of those candidates and hire 1.
Boom. <Drops Mic>. Walks off.
Do individual reqs look different that that? Sure. But once you get to 50 positions filled, the averages always come back to 6/3/1 across all hires/all departments.
That probably says something about the psychology of the hiring manager. She needs to see some candidates, do some interviews and if you're doing your job as a recruiter, she'll find someone she likes. 6/3/1.
You probably know if a hiring manager is a complete ass and unrealistic once you've worked with them across 5 openings or more. 6/3/1.
Sending more than 6 candidates may actually confuse managers and train them that they need to see every candidate in the search, because they subsequently treat you like a coordinator and trust you less.
If you're wondering whether your service level in recruiting is up to par, start with this metric and compare what you're providing. I've got 7 years worth of data that says it all comes back to 6/3/1.
Can you measure things like the total number of applicants it take to feed the funnel to get to those downstream numbers? Of course you can (it's 45, btw.), but don't forget to remember that what the hiring manager sees and the service level they feel/get is the most important thing.
6 freaking 3 freaking 1.