What are some key candidate experience metrics that should be tracked and why?
To help you identify the relevant candidate experience metrics you should be tracking in your hiring process, we asked hiring managers and recruiters for their best insights. From Hires Per Source and Time to Inform to Email Response Rate, there are several candidate experience metrics you should keep track of to help you improve the overall efficiency of your hiring process.
Here are 10 candidate experience metrics these leaders keep track of in their organizations:
1. Hires Per Source
Hires per source is an important candidate experience metric to track. This metric allows you to see which sources are providing the most hires, and therefore where your recruiting efforts should be focused. Additionally, tracking hires per source can help you to identify any patterns in the type of candidate that is being hired from each source. For example, if you find that a particular source consistently provides candidates who are a poor match for the job, you may want to reconsider using that source in the future. By tracking hires per source, you can ensure that your recruiting efforts are efficient and effective.
Antreas Koutis, Financer
2. Application Abandonment
It is important to remember that every bit of information you put out into the public forum is an indicator of the quality and effectiveness of your business, and this is why the application abandonment rate is an important metric you must track. If you notice that many candidates start but don’t finish an application, this may be indicative of a poorly designed form. Forms that are too long, are difficult to understand, ask for too much detail — or even worse, inappropriate information — can lead to a poor candidate experience and eventual application abandonment. Any business that fails to address high application abandonment rates or apply it as a metric, risks losing many quality candidates to frustration and, in the process, makes their business appear inefficient and not an attractive employment option.
Adelle Archer, Eterneva
3. Job Acceptance Time
Look at how long it takes, on average, for candidates to accept your job offers. This is something to pay attention to if there is a consistent trend. For example, suppose it typically takes your candidates a few days to accept a job offer rather than immediately. They may unfortunately not feel 100 percent sure about your company, but they do not happen to have any other job offers. In this case, you should try to find out why.
Drew Sherman, Carvaygo
4. Time Per Stage
One candidate experience metric to track for certain is time per stage. By tracking the amount of time a candidate spends in each stage, you can quickly address insufficiencies in your hiring process. For example, significant delays in initial recruitment could tell you the application was confusing or the job posting needs adjustment. Measuring each stage also gives you a more complete picture of your hiring process overall, which always comes in handy.
Sasha Ramani, MPOWER Financing
5. Candidate Offer Declines
I recommend measuring the number of job offers to the number of declines received from candidates in a given period. For example, within one year, if half of your candidate offers are being turned down, this requires further examination for improvement. The goal is to keep your offer acceptance rate as high as possible by prospecting qualified candidates and portraying your brand effectively during the hiring process.
Breanne Millette, Bisoulovely
6. Candidate Net Promoter Score
The candidate net promoter score (CNPS) is the most important metric when it comes to tracking the candidate’s experience. CNPS is the number that indicates whether the candidate will refer your company to others for business or to others looking for a job. This number also indicates the loyalty your candidates show to the company. That is an important fact to know when you are considering hiring them, especially since you want them to be long-term employees.
Bruce Tasios, Tasios Orthodontics
7. Time to Inform
Time to inform is a key candidate experience metric that companies should be observing. The interview process is a time variable that can generate anxiety for many candidates about their experience. Candidates have to consider the opportunity’s cost of waiting for a decision from potential employers. Long wait times regarding employment decisions can give companies a bad employer reputation and deter new talent from applying. This is why it is important to track time to inform during the hiring process. A short time to inform will attract more applications from candidates who want to feel that their time is being valued.
Katy Carrigan, Goody
8. Conversion Rate
A high conversion rate can result from measuring the right things and tracking the data. For example, one highly successful company implemented a new interview process but did not see any significant change in conversion rates. So, they analyzed the phone screen, interviews, and finally the offer — but still could not find anything wrong with their process. After digging deeper, they realized that the interview process was divided into two rounds. They discovered that the first round was the screening round and the second round was the interview round. They realized that many candidates who had passed the screening round did not even come for the interview. They decided to move the interview earlier in the process. Because of this, their conversion rate went up.
Todd Jensen, Nursa
9. Applicants Per Opening
It’s worth taking a look at applicants per opening — the number of people applying for each job. This metric can help you track and understand how popular roles at your company are. While this metric may vary widely — even within the same company, depending on the particular vacancy — it can point to broader issues. If you’re seeing consistently low applicants for your roles across multiple fields, it suggests that you may need to adjust your marketing efforts.
Rachel Reid, Subtl Beauty
10. Email Response Rate
We’ll look at two metrics here: candidate email response and recruiter email response. The candidate email response rate indicates how many candidates responded to your emails. This metric measures how engaged your candidates were in your email communication. The time it takes a recruiter to respond to candidates is represented by the recruiter email response rate. Candidates lose interest if they do not hear back after a long period of time. It is very frustrating for a candidate not to hear back after spending a significant amount of time preparing for your job application. Ensure that your email communication runs smoothly and in a timely manner.
Joy Were, GetPaydayLoan
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