Most hiring managers can easily recite the set of indicators used to measure recruiting efficiency: time-to-fill, cost-per-hire, applicant-to-hire rate, and so forth. A few decades ago, these were the only realistic benchmarks that could be set.
Today these transactional metrics continue to be important indicators, but they are only the first step in a larger spectrum of possibilities. The ever-increasing availability and sophistication of data, along with a talent-driven economy, present an opportunity to directly align recruiting strategy benchmarks with business mission.
Here, we propose a new model – a framework that emphasises the practical realities of recruitment, alongside the visionary metrics that might be considered radical by today’s standards.