Cost per hire
The cost per hire refers to how much it costs the business in total to fill a vacant position.
Measuring source quality (also known as sourcing channel efficiency) will help you see where your money is going and the quality of candidates brought in through various channels.
Number of qualified candidates
With this KPI, the first step is to define what a qualified candidate looks like for a certain role.
Quality of hire
The recruitment process is all about finding the best (and most capable) candidate for the job.
Time to hire
The time to hire is the number of days between when a candidate enters the recruitment funnel and when they accept an offer of employment with the firm.
Offer acceptance rate
The formula for calculating offer acceptance rate is straightforward: The number of accepted offers divided by the total number of offers.
Candidate net promoter score (NPS)
The candidate NPS relates to an applicant's experience with your recruiting process and their likelihood to suggest your organization to others based on that experience.
First-year turnover rate
The higher your company's turnover rate, the more money it spends on recruiting. When you invest money in the recruitment process, you want to make sure it doesn't go to waste.
This measure allows you to determine whether your recruitment process is biased towards a protected class.