Conventional wisdom: You can’t manage what you don’t measure. More than just a business world cliché, there’s plenty of evidence that measured performance does lead to a more effective organization in areas as diverse as sales, manufacturing, professional services, and recruiting.
Many organizations use metrics to understand how their sourcing and recruiting processes are working, and where there is room for improvement. But are sourcing professionals and recruiting managers measuring the right things?
Most recruiting organizations measure internal metrics such as cost per hire, time to fill, and the recruiter’s requisition load. Agencies measure candidates presented, sendouts, placements, calls made, revenue, and the relevant ratios. While these offer valuable insights, they don’t measure the activity that impacts the business of recruiting – the ability to outmaneuver the competition and get the right talent in the door.