The foundation of recruiting performance has been built historically on three core business metrics:
1) Cost Per Hire = Can you recruit and do it with optimal financial investment?
2) Quality of Hire = Can you recruit an optimal or better performer?
3) Time to Fill = Can you fill the position quickly?
We need to separate the requisition management framework into two parts:
1. Sourcing/Pipelining Reqs: the recruiters - sourcing, candidate outreach
2. Open Business Demand Reqs: the business - resume feedback, interviewer availability, feedback, offer decision-making, etc
In this way we can identify at what stage in the overall process any bottlenecks are occurring:
TTH (Time to Hire) = Meeting the needs of different business realities
> Pro-active planning
STI (Source to Interview) & ITH (Interview to Hire) metrics
- the business is taking too long to engage, interview, and make a hiring decision
- the business require longer runways of identification and attraction
- need of building of longer-term relationships with talent vs. the identification of talent
- more proactive a talent acquisition function
ITH (Interview to Hire)