Recruitment KPIs: How RPO Providers Track, Report, and Improve Them

Recruitment Process Outsourcing (RPO) is an efficient solution for companies to streamline their recruitment and achieve better results. RPO providers use key performance indicators (KPIs) to measure their performance and identify areas for improvement, significantly improving the workforce by making data-driven recruiting decisions for their clients. In this article, we will highlight the key KPIs of recruitment, and will help you understand how RPO recruiting companies can help you meet hiring goals, identify areas for improvement, optimize the process, and make data-driven decisions in your recruitment process.

Recruitment KPIs, or Key Performance Indicators, are measurable metrics that help hiring managers and talent acquisition teams assess the effectiveness of their recruitment process.

They can help identify areas for improvement, optimize the process, and make data-driven decisions. KPIs can also help align recruiting efforts with business objectives, show the value of recruiting efforts, and build an efficient recruitment pipeline.

Here are some of the key recruitment KPIs to track:

• Time to hire: Measures the average time it takes to fill an open position, from advertisement to offer acceptance.
• Cost per hire: Calculates the total cost of filling a position, including advertising, agency fees, and recruiter time.
• Source quality: Analyzes which recruitment channels (job boards, social media, employee referrals) are yielding the most qualified candidates.
• Quality of hire: Evaluates how well new hires perform in their roles, often measured by metrics like productivity, retention rate, and customer satisfaction.
• Offer acceptance rate: Tracks the percentage of candidates who accept a job offer.
• Candidate satisfaction: Gauges how satisfied candidates are with the recruitment process, often measured through surveys.

RPO recruiting companies track and improve recruitment KPIs by leveraging various tools and technologies to monitor and report on recruitment metrics. They utilize Applicant Tracking Systems (ATS) to capture data on key performance indicators such as time-to-fill, cost-per-hire, applicant volume, and candidate quality. Additionally, RPO providers may integrate other tools like Microsoft Power BI to create real-time interactive dashboards for visualizing recruitment progress and insights.

Moreover, RPO providers gather information from specific job boards and marketing platforms to gain a comprehensive view of their recruiting efforts. This allows them to assess the effectiveness of different recruitment channels, including job boards, social media, and employee referrals. By using these tools and platforms, RPO recruiting companies can track, analyze, and report valuable insights to their clients, enabling data-driven decision-making to optimize the recruitment process and enhance hiring efficiency.

Recruitment process outsourcing (RPO) services utilize key performance indicators (KPIs) to track and improve the recruitment process. Here are some of the key recruitment KPIs used by RPO services:

• Speed & Cost:

1. Time-to-fill: The duration from posting a job opening to hiring a candidate.
2. Cost-per-hire: The total expenses associated with filling an open position, including recruitment-related costs like marketing and advertising.
3. Candidate Time in Process: The time taken by a candidate to complete the recruitment process from application to starting the job.

• Sourcing & Application:

1. Application Completion Rate: The ratio of applicants who start filling out an application compared to the number of completed and submitted applications.
2. Source Channel Efficiency: Indicates the effectiveness of different recruitment channels such as job boards, social media, and employee referrals.
3. Diversity Candidate Sources & Applications: This metric reveals where diverse candidates are being sourced and whether job descriptions and employer branding are inclusive.

• Hiring Process:

1. Submission to Interview: This measures the ratio of candidates submitted to the number of interviews, providing insight into candidate quality and manager responsiveness.
2. Interview to Offer Extended: This metric indicates the number of interviews performed divided by the number of offers extended, offering insight into candidate quality and manager expectations.
3. Interviews to Hire: This KPI measures the number of candidates who are interviewed before a job offer is extended.
4. Submission to Hire: This metric looks at the number of submissions it took to achieve a new hire, assessing recruiter effectiveness and ability to present managers with the best candidates.
5. Offer-Acceptance Rate: This measures the percentage of job offers that are accepted by candidates.
6. Candidate Satisfaction: This KPI reveals whether candidates like or dislike the candidate experience, typically collected through short surveys to gather feedback.

• Recruitment Outcomes:

1. • Hiring Manager Satisfaction
   • Turnover Rate
   • Retention Rate
   • Quality of Hire

• Expertise and Specialization
• Cost Efficiency
• Scalability
• Speed and Efficiency
• Quality of Hires
• Technology and Tools
• Compliance and Risk Management
• Focus on Core Business
• Improved Candidate Experience

We are Taggd, one of India’s leading RPO recruiting companies, offering tailored recruitment solutions that are efficient and effective. Our commitment to excellence is evidenced by our collaboration with the India Skills Report and our extensive market insights.

We provide a proprietary digital recruitment platform with a database of over one million pre-screened, pre-interviewed, and ready-to-hire candidates, leveraging AI-powered algorithms to enrich candidate profiles.

Why Choose Us:

• Streamlined Process: Our experienced recruiters handle everything from crafting job descriptions to onboarding new hires, freeing you up to focus on what matters most – running your business.
• Reduced Costs: We offer cost-effective solutions that can help you save money on your recruitment efforts.
• Increased Efficiency: Our expertise and technology-driven approach get you the talent you need faster, with a proven track record of filling open positions quickly.
• Improved Quality of Hire: We use a rigorous screening process to ensure you connect with the best possible candidates.

Get in touch and leverage our expertise in the Indian talent market. Let Taggd help you build a high-performing workforce with our extensive network, cutting-edge technology, and deep market insights. Transform your hiring process with us today.