Measuring the Recruitment effectiveness

Can organizations measure the effectiveness of the recruited candidates? Instead of just going by the target numbers, can companies adopt this a method to find the Hiring quality index  of recruitment objectively and to incentivize their recruiting unit accordingly?

The answer is yes. But what are the parameters that need to be considered to estimate this index?

The hiring quality index has two aspects to it – The conversion ratio and the quality of the candidate selected. The conversion ratio is the ratio of the number of candidates who accepted the offer  and joined the organization after selection for a particular position TO the number of candidates whose resumes got shortlisted from the application pool.

Equally important is the selected candidate’s quality which can be measured broadly by the following factors like past performance measured by previous company’s brand and market value,appraisal received, hike obtained, candidates ability to stick to the job measured by past records,educational qualification  and time taken to fill the vacancy.

Companies that are looking forward to objective data will give weightages to each of these parameters and end up in a cumulative score for each selected candidate. The conversion ratios calculated along with the objective quality data on the candidates can tell the effectiveness of the recruitment department. Where it can be contested that a candidates worth cannot be decided by all these factors as on the job performance has many more things to be taken into account, it is necessary to measure them, as what we cannot measure, can’t be improved upon. The measures to improve the efficiency of the Recruiting jobs can definitely be proved worthy only if there is a system in place which can measure the differences.