Once the important data sets regarding your talent acquisition performance metrics have been compiled, our next step is to categorize these into ratios. My advice would be to calculate separate ratios in accordance with business units or specific job types in the company.
1. Open to filled vacancy ratios per annum
2. Response to vacancy ratios per annum
3. Applications to interview invitation ratios per annum
4. Interview invitation to interview taken place ratios per annum
5. Offer to acceptance ratios per annum
6. Acceptance to counteroffer ratios per annum
NOTE: We are discussing RATIOS, not numbers - high ratios are problematic in many instances, just as much as low ratios could point to inefficiencies.
Low response to vacancy ratio (not enough candidates applying).
Possible Reasons: Advertising on the wrong platforms, internal (or agency) recruiters not trained in alternative research methods, social media & headhunting practices not effectively executed to attract suitable candidates, recruiters not understanding the role properly, company value proposition to candidates not clear.
High response to vacancy ratio, but with a high application to interview ratio (volumes of applications per vacancy, low numbers selected from those applications for interviews).
Possible Reasons: Indication of unsuitable candidates presenting themselves for the opportunity, External recruiters not understanding the role properly, Job description too generic.
High interview invitation to interview taken place ratio (Numerous invitations vs low interview attendance).
Possible Reasons: Inadequate screening pertaining to candidate motivations for moving and commitment to changing jobs, Inflexible interview diaries, interviews scheduled at short notice, lengthy process timeframes from application received to interview invitations.
Until next time when I will be discussing further problematic ratios including Offers, Acceptances, Declines & Counter Offers.