Traditional recruitment process has taken a back seat in recent times. With new trends influencing every industry across the globe, technology has advanced steadily that has impacted growth of every segment. With this the recruitment process has also remodelled itself to meet the increasing demand for candidate sourcing. It is no more about the experience and gut feeling of the hiring manager. The hiring process and candidates have been quantified with the help of certain parameters. Hence the performance of the recruiters can now be measured and evaluated based on below factors.
- The first and foremost parameter that forms the basis of the recruitment success and effectiveness is the time to hire factor. It is the time span that is taken up by a recruiter for bringing in the candidate onboard. The duration is counted from the time the job posting goes live across various platforms to the successful placement of the candidates. Organizations which have a strong talent management process usually have the lowest time to hire quotient.
- Next factor to consider is the sourcing channel. The conventional sources such as job portals and normal company database wherein candidates drop in their resume are no more sufficient to indentify talents. Recruiters need to build up their own network of talent sourcing which may include personal channels, following up with the referrals and a strong reaching out ability to the passive candidates. The third scenario is the toughest to handle as these candidates are not looking out for job change. Convincing them to the selection process and finally placing the offer is a strategic work that requires proper planning and discussion.
- Next in line is the cost of hire. It includes the compensation and other benefits that are offered to the candidate. There are a few to things to consider in this case. In case of technical professionals where the skill availability is less, it is obvious that the demand for compensation will rise. But the recruiter needs to understand the budget and work accordingly in order to retain the candidate as well as sustain the company benefit.
- Just recruitment of a resource now days are not enough to add value to the workforce. The recruiter needs to identify a resource that can adjust with the company work environment and connects with the brand so that learning and development investment of the company gets paid off.
- The ratio of the current vacancies versus positions filled for a particular time period is a good parameter for recruiter ability judgement. It can either be measured monthly or quarterly depending on the company policy.
- Offer acceptance ratio is another factor that reflects the performance of the recruiter in terms of convincing the candidate regarding the positions. It needs to be performed from the sales point of view for effective results.
- Lastly, the gender mix should be considered for performance evaluation. Workforce diversity is an important aspect of employee base for every organization and that can be looked upon through this parameter.