What IT recruitment metrics should you use to optimize your sourcing strategy?

To optimize your IT sourcing strategy, focus on key recruitment metrics such as time-to-fill, candidate quality, source effectiveness, and offer acceptance rates. Track the time it takes to fill IT positions to identify bottlenecks and streamline processes. Evaluate the quality of candidates sourced through various channels to determine the most effective sourcing methods. Analyze source effectiveness to allocate resources efficiently and prioritize high-performing channels. Monitor offer acceptance rates to assess the attractiveness of your employer brand and compensation packages. By leveraging these metrics, you can refine your IT recruitment strategy to attract top talent effectively.

In my experience time to hire is a useful benchmark of how a process is working. Equally it’s not the absolute criteria that many think it is. The pace of the hiring process should align with the expectations of the business and candidates. If candidates need longer to engage with you at the expense of hiring pace.

There are so many quick wins to be had here to give you the best chance of a respectable time of hire, I think a lot of it starts before the role gets published. Understanding the requirement, where the role sits in an org, the makeup of the team and the personality of the hiring manager, all this ground work ahead of time will help when it comes to going out to market to identify a resource. On top of that, there’s then many basics like having a Calendly link for a candidate to book in call and only giving option of next 3 days to drive urgency. Posting in meetup groups or on LinkedIn etc for recommendations, having a solid referral scheme to incentivize folk to help do some leg work for you.

When it comes to optimizing your IT sourcing strategy, one important recruitment metric to consider is the "time to hire." Time to hire refers to the duration it takes from the moment a job opening is posted to the moment a candidate is hired. It's a crucial metric because it measures the efficiency of your recruitment process. By tracking time to hire, you can identify bottlenecks and areas for improvement in your sourcing strategy. like, if the time to hire is consistently long, it could indicate that you need to streamline your candidate screening or interview processes. On the other hand, if the time to hire is too short, it might suggest that you're not thoroughly evaluating candidates. Balancing efficiency and quality is key.

Some important metrics to consider include time to fill, cost per hire, quality of hire, candidate satisfaction, and source of hire. By analyzing metrics such as time to fill and source of hire, recruiters can identify which sourcing channels are most effective and make data-driven decisions to improve their overall recruitment strategy.

When it comes to optimizing your sourcing strategy, it's important to understand the source of hire. The source of hire refers to the channels or methods through which candidates discover and apply for job openings. It could be through job boards, social media platforms, employee referrals, career fairs, or even direct applications on your company's website. By tracking the source of hire, you can determine which channels are most effective in attracting qualified candidates. This information can help you allocate your recruitment resources more efficiently and focus on the sources that yield the best results.

Analyze the performance of different sourcing channels (e.g., job boards, social media, employee referrals, recruitment agencies) in attracting qualified IT candidates. Determine which channels yield the highest-quality candidates and allocate your resources accordingly.

Source Mix indicates the effectiveness of your talent attraction campaign and it also indicates your brand positioning . More application from career site indicate increased brand awareness, and more referrals shows engagement among employees.

Tracking sources isn't going to work for you unless you are consistent, and you think long term. You want to look at and evaluate the sources based on the cost of the source, how many hires, and total time to hire across all sources. Using this data will prepare you for any budget related conversations as well as other things.

Measure the percentage of applicants from each source who move forward in the hiring process. This helps identify high-performing sources and those needing improvement.

When it comes to evaluating the success of your hiring process, one important metric to consider is the quality of hire. Quality of hire refers to the overall performance, skills, and fit of the candidates you hire. It's about ensuring that the individuals you bring into your organization are not only capable but also aligned with your company's values and culture. Evaluating the quality of hire can be done through various methods, such as performance reviews, feedback from managers and colleagues, and tracking key performance indicators. By assessing the quality of hire, you can make adjustments to your recruitment and selection processes to improve the overall caliber of candidates you bring on board.

Assess the quality of candidates sourced through various channels by tracking metrics such as the percentage of candidates who pass screening stages, assessment scores, and interview-to-offer ratios. Focus on sourcing channels that consistently deliver high-quality candidates aligned with your IT roles.

Choose Quality over Quantity. Once requirement comes don’t just try to fill the inbox of hiring manager. Share 1-2 bang on! Profile with a small note why that candidate is best fit for the job.

It is the end result of your entire hiring process. Better Quality of hire reflects the robust hiring process an organisation has implemented.

Evaluate the performance of new hires from different sources to assess whether they meet expectations. This helps prioritize sources that deliver high-quality candidates.

Candidate experience is all about how job seekers feel during the hiring process. It's like the journey they go through from applying for a job to getting hired. Just like when you go on a trip, you want it to be smooth and enjoyable, right? Well, the same goes for candidates. They want a positive experience with clear communication, a simple application process, and feedback, even if they don't get the job. It's important for companies to create a good candidate experience because it can affect their reputation and the type of candidates they attract. So, by making the process easy, transparent, and respectful, companies can make a great impression on candidates.

I believe that the candidate experience is crucial. Clear and transparent communication, a streamlined application process, professional interviews, and timely feedback are key to ensuring a positive experience. By prioritizing these aspects, we can attract and retain top talent while leaving a lasting impression on candidates.

Gather feedback from IT candidates regarding their experience with your recruitment process. Monitor metrics such as Net Promoter Score (NPS) or candidate satisfaction surveys to identify areas for improvement and enhance the candidate experience.

Good candidate experience promotes brand image and can help and organisation to attract better talent. Reducing time to hire, transperent communication can help to improve candidate experience

Track candidate satisfaction with the sourcing process. This helps improve your employer brand and attract better talent. Assess the completeness, accuracy, and relevance of resumes from each source. This helps identify sources with qualified candidates and those sending irrelevant applications.

Diversity of hire refers to the practice of ensuring a diverse range of individuals are hired within an organization. It involves actively seeking and considering candidates from various backgrounds, including different races, ethnicities, genders, ages, abilities, and more. Promoting diversity in hiring is important because it brings a wide range of perspectives, experiences, and ideas to the table. It fosters a more inclusive and innovative work environment, where different viewpoints can lead to better problem-solving and decision-making.

Measure the diversity of your IT candidate pool and track progress toward diversity goals. Analyze metrics such as gender, ethnicity, and demographic representation to ensure a diverse and inclusive sourcing strategy.

More the Diversity means more employee centric company you are. Just look who can full-fill your client needs and give them a good work space/ environment apart from country, race, colour, age! Break the walls!

Track the diversity of your applicant pool across various demographics. This helps ensure fair and inclusive sourcing practices. Monitor the diversity of your sourcing channels to ensure you're reaching a wide range of talent pools.

Another view here is what is the cost of not hiring? Whilst many companies focus on the cost of hiring not many look at the opportunity cost of not filling a critical role effectively.

The cost of hire is all about how much money it takes to find and bring in new employees. It includes things like advertising the job, interviewing candidates, checking their backgrounds, and getting them settled in the company. By understanding the cost of hire, companies can figure out ways to save money and make the hiring process more efficient. It's like keeping an eye on the budget while finding the right people for the job.

Depends upon requirement to requirement For general requirement which requires normal skill could be close by hiring a candidate prior to project start date. For niche requirement you need to target preferred vendors to ful fill them yes it take time to find right candidate and cost of hire is high here.

Calculate the total cost incurred to hire a candidate, including recruitment advertising, agency fees, and internal HR expenses. By measuring cost per hire, you can identify cost-effective sourcing channels and optimize your budget allocation for IT recruitment.

You have to track your cost per hire and evaluate at least once per quarter. I've seen a few different ways of figuring this out. My strategy has always been keeping a running Excel workbook that tracks cost of source and contract length, cost per hire for each individual source, and average cost of all sources.

Business objectives and key results (OKR) should determine which recruiting metrics we utilize and what search strategies we implement. If a key business objective is increasing diversity of representation in the recruiting process then diversity metrics should be more closely followed than other metrics like time to fill. Track and focus on improving the metrics that will impact business OKRs.

The metrics I track for myself are - Submission to interview - I want to know how many of my candidates are selected for interview. - Interview to Offer - How many of my candidates who interview get an offer? - Offer to Accept - How many offers are accepted and declined. - Accept to Start - If they accepted the job but either backed out or ghosted first day. I track these stats by using an Excel workbook with formulas so I can see the stats for any timeframe.