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This is the final blog in a series about the 5 key performance indicators (KPIs) we use at Greenhouse to measure our recruiting team’s success. Learn the methodology behind our KPIs in the introductory post, and read about all the other KPIs here: KPI #1, KPI #2, KPI #3, and KPI #4.
Each of the key performance indicators that we’ve covered in previous posts has formed one piece of the puzzle, and now it’s time to put them all together. The fifth and final KPI is what all your other KPIs will ultimately lead to.
So, what’s this ultimate KPI that we use to track recruiting success here at Greenhouse? The wait is over—read on to find out!
KPI 5: Hires to goal
Hires to goal measures overall how well you are meeting your hiring objectives.
In the end, all of the metrics we’ve outlined are aimed at making sure we are building a process that ensures quality hires: a robust pipeline, a memorable candidate experience, a well-oiled process.
However, the right quality of hire is only one side of the coin and does not fulfill your organization’s needs without being coupled with the right number of hires.
At the outset of every year, quarter, and, likely, month, your team sets a specific goal for the number of hires required. The goal set should consider how long it takes to build a job req, fill a funnel with quality candidates, move these candidates through the process, and close an offer. The output of that analysis is a number, e.g. “32 hires in Q3.” Tracking and reporting on your organization’s progress towards this goal is a critical component of measuring its recruiting success. And this is why it’s one of our core recruiting KPIs.
Because hiring goals and the ways they are set are unique to each organization, we don’t have a benchmark for this KPI. Of course, we strive to set strong goals that challenge the team, and thereby shoot for 100%, and I encourage you to do the same.
I hope you have enjoyed this blog series! Though it’s coming to an end, it doesn’t mean that the learning is over. Click the button below to download our new eBook, “Five recruiting key performance indicators” and obtain all 5 KPIs in one easily referenceable (and shareable!) format.