SHRM Talent Acquisition
Applicants Per Opening ️Gauges the job's popularity. A large number of applicants could indicate high
demand for jobs in that particular area, or a job description that's too broad.
# of Submitted Applicants / Per Opening ️Applicants Per Opening Formula
Applicati...
SHRM Talent Acquisition
Applicants Per Opening ✔️Gauges the job's popularity. A large number of applicants could indicate high
demand for jobs in that particular area, or a job description that's too broad.
# of Submitted Applicants / Per Opening ✔️Applicants Per Opening Formula
Application Completion Rate ✔️Tracking this rate helps hiring managers optimize their recruitment
process. Finding the right talent is a difficult task, therefore they need to make sure there are not
unnecessary drop-offs.
# of Submitted Applicants / Total # of Candidates Who Started an Application ✔️Application
Completion Rate Formula
Candidate Experience ✔️The candidates impression of the overall recruitment process, from the
moment the candidate peruses your website for available jobs, to completing the application, to
interviewing, and finally to receiving the job offer.
To gather this data, you will need to obtain the information from the candidates. This can be done via a
survey. By tracking surveys, you will be able to see the positives and negatives with your recruiting
process from the candidate perspective.
App Abandonment Rate% = # of Candidates that Quit the App Process /# of Candidates that began Filling
Out the App x 100 ✔️Candidate Experience Formula
Candidate Job Satisfaction ✔️An excellent way to track whether the expectations set during the
recruiting process match reality. A low candidate job satisfaction rate highlights a mismanagement of
expectations or incomplete job descriptions. A realistic job preview can work to prevent misconceptions
about the job.
This, like the applicant experience, can be measured by surveys presented to the new employee.
1. Calculate the total # of candidates polled (1,000)
, 2. Count the Total # of positive responses (200)
3. Divide the # of positive responses by the total # of candidates (0.02)
4. Multiply the quotient by 100 = 20% ✔️Candidate Job Satisfaction Formula
Cost per Hire ✔️Total cost invested in hiring divided by the number of hires. This normally includes
advertising costs, recruiting agency fees, candidate expenses (on-boarding time), training costs, etc. By
quantifying all the categories, you can then calculate the total recruitment cost.
Total Internal Cost + Total External Cost (Total Recruitment Cost) / Total # of Hires ✔️Cost per Hire
Formula
First Year Attrition ✔️Track the total # of new EE who stayed with your organization for a year, from
the total # of EE you had when that period began. Measuring first year attrition provides insight into
whether or not you are meeting the candidate's expectations or perception of the job, versus the reality
of it. The rate also provides an indication of whether or not you need to find out why the perception
versus the reality differ and implement a fix to the issues.
(Total # of EE who left / Total EE at Start of Period) x 100 ✔️First Year Attrition Formula
Hiring Manager Satisfaction ✔️Recruiting metric that in indicative of successful recruiting metrics.
When the hiring manager is satisfied with the new candidate, the candidate is likely to perform well, and
become a true team member. In other words, the candidate is more likely to be identified as a
successful hire for the manager
You can use a tool like Survey Monkey. Data from leading or closed satisfaction questions and ranking
questions can also help identify what is working, and what needs improvement.
Offer Acceptance Rate ✔️Tracks how many of the offers you extend to candidates are accepted, and
normally is tracked after the application and interview processes have been completed.
When candidates do not accept the offer, it can be very frustrating for the team, as they have worked
tirelessly to move the candidate through the recruitment process. Tracking the rates over time will allow
you to see how effective your recruitment strategies are in your organization.
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