Recruitment key performance indicators (KPIs) is a part of Human resources KPI include KPI as follows:
1. Recruitment costing KPI
• Recruitment costing per position.
• Recruitment costing per position per channel
• Average sourcing cost per hire Average sourcing cost per hire. Sourcing costs include advertising, referral and agency
2. Recruitment time KPI
• Average time to recruit. Calculating from date of recruitment require to date of employee hired.
• Average time to recruit per position.
3. Recruitment source KPI
• Number of CVs / per channel
• Recruitment source ratio. Ratio between internal versus external recruits.
4. Selection KPI
• Average number of interviews from submitted resumes. Track the number of converted submitted resumes to interviews.
• Number of qualified candidate compared to resumes.
5. Recruitment efficiency KPI
• % recruitment achievement meet hiring plan
• % new hires achieving 6 months service
• % new hires achieving 12 months service
• % new hires achieving satisfactory appraisal at first assessment.
I. Characteristics of KPI
KPI is a term specifically used to indicate criteria adopted in evaluating the employee’s performance. Following are some characteristics of KPI:
1. A KPI must be aligned with the organization’s objectives;
2. A KPI is determined by management personnel (normally human resource managers);
3. A KPI must be designed so that it is easy to understand;
4. Some KPIs are specifically designed for each employee;
5. KPIs are expected performance by the organization;
6. KPIs must be designed to balance the evaluation of each employee;
7. KPIs lose their accuracy over time; therefore, it is necessary to revise KPIs periodically.
II. Requirements of a KPI:
An effective KPI should be:
4. Performance relevant;
5. Containing deadline requirement.
III. How to design a KPI?
1. Design Key Result Areas (KRAs) and the importance of each KRA;
2. Identify necessary procedures to perform each KRA;
3. Identify the measurement criteria for each KRA and evaluate the importance of each criterion;
4. Summarize the criteria and the importance of each criterion;
5. Develop a summary table of KPIs.