The discussion regarding the most important metrics in human resources is open to debate. However, most people agree on the fact that the candidates interviewed per hire metric could offer reliable indicators concerning the recruiting and the interviewing process.
Categorically, it is just as critical to interpret the results provided by the calculations accordingly. Your fundamental goal is to utilize the information you have at your disposal to enhance the efficacy of the hiring process. With that being said, we’d like to have a closer look at this widely used metric – namely the candidates interviewed per hire. What does it portray?
Defining the Candidates Interviewed per Hire Metric
Defining this metric isn’t that complicated; in plain English, this metric calculates the number of interviews conducted by your recruiting team before the right person for the position is found.
Now, this metric is calculated by considering the total number of candidates interviewed against the total number of hires that took place within a specified timeframe.
Distinct from other metrics – such as the time to hire, there isn’t such a notable variance by industry or location when it comes to the candidates interviewed per hire. This mirrors the absence of external factors that play a part in the actual hiring process. Expressly, this metric merely highlights the way in which your hiring process works.
What if the Candidates Interviewed per Hire Ratio Increases?
Of course, when the number of persons interviewed is high, and the number of persons hired is low, this could display an issue. It might be a good idea to break down the results by considering the consecutive stages of the interviewing process. More specifically, at what point are the numbers prone to increase: at the initial interview stage, at the screening stage, or at the final executive interview?
At the same time, another idea might be to review your current approach to screening calls. Perhaps your internal recruiter or hiring manager would need support in order to better comprehend the requirements for each individual position.
Moving on, it might be sensible to revisit and update your hiring plan. Optimally, it should incorporate comprehensive briefing, which would be useful for hiring a team. Job descriptions should be detailed and thorough so that the hiring team would get a whole picture regarding the position and its specifications. That is not all, though, the job descriptions should be appealing enough for potential candidates, which is why they should be customized to the target audience.
At the same time, we encourage you to reanalyze your recruiting budget, to assess whether the money goes in the right directions or not. As a rule of thumb, you should be 100 percent confident that you’re spending money in the most efficient recruiting channels. The world of job advertising shouldn’t be overlooked, as well.
We hope that this article provided insight into the widely utilized human resources metric – the candidates interviewed per hire. As we tried to explain beforehand, this metric says a lot about your firm’s hiring process, which is what makes it relevant for each business.