The average cost per hire is over $4,000 and open roles cost companies upwards of $500 a day. All that said, it’s no secret that recruitment and hiring is one of the largest investments a company makes for successful business growth. And when the recruitment process is lacking your business will feel the impact. In order to make changes, you must be able to visualize the gaps. The best way to do this is to utilize hiring tools and solutions that will provide you with actionable analytics and metrics—because numbers don’t lie. In fact, 75% of HR leaders say analytics are important but over half don’t use them because they’re not always easy to gather. This is one area where Rooster is trying to help organizations make real change.
Hiring Metrics Your Team Should Be Tracking for Success
These are just a few of the hiring metrics you should be tracking to ensure efficiency and ROI for your organization:
Time to Hire & Time to Fill
This is one of the most important metrics in the hiring process. How long is it taking you to post the requisition and have the right candidate sign on the dotted line? Average time to fill is 42 days. With Rooster, one client was able to reduce time to fill from 38 days to 18 days! And the analytics Rooster provides helped them track that success.
Response Rates
One feature HR managers love is our playful “Wall of Shame” within the analytics portion of the website. This shows which recruiters tend to respond a little bit more slowly for the rest. This helps teams close the gaps and understand where additional training or support may be required.
Best Interview Times
Since interview scheduling takes up 25% of the recruiting process, you want it to be efficient. When you can see which time of day is most successful for accepted and executed interviews, you can start there rather than having to reschedule many times to find a good time fit.
Internal Team Data
Which hiring manager schedules the most interviews that result in hires? Which hiring managers forget to respond, cancel, or reschedule often? It’s data like this that can help you improve time to fill by additional training or changing out your interviewers.
Overall Scheduling Time
How long is it taking to schedule that initial interview? This is key to improving time to hire and time to fill. One Rooster client was able to reduce scheduling time by 50% saving them over 2 business days of time! They were also able to actually schedule an interview 62% faster than just scheduling in their Workday account.
Let Rooster Provide the Hiring Analytics You Need to Improve Your Recruitment Process
Rooster’s real-time dashboard provides your hiring team with detailed analytics that cover the entire interview process. This in turn provides you with rich data that will help you improve and make better business decisions for your hiring process! Want to see a detailed view of what hiring metrics are provided by Rooster and how they can help your team level up? Schedule a personalized demo today!
