Recruiting Metrics:
Beyond Cost Per Hire
By Jason Blais, Field Market Manager, JobsInNH.com
Cost Per Hire
It's no surprise that a recent JobsInNH.com poll showed Cost Per Hire as the most commonly analyzed recruiting metric. It's easy to count the number of applicants and hires per advertising source. It's also a relatively easy process to calculate how many advertising dollars were spent to fill a position.
But these are second-level metrics, focused on the actual process itself. And they can often be short-sighted.
Measuring Value
A better recruiting analysis question is: how valuable are the hires to the business? To answer this, you have to look at how long it takes for each hire to become productive and how long they stay with your company. Employee retention affects quality of the work being done by your company and your turnover costs.