A common challenge that most Recruitment professionals have is how to justify the Cost Per Hire while ensuring that the quality of hired talent does not diminish when the focus is more on reducing CPH. When you are into Recruitment this is of the utmost importance for Talent Acquisitionist’s across organisations, primarily as we are answerable to the CFO at the end of the day. Therefore, knowing where you can cut corners to fit in to the prescribed budget is a challenge when on boarding talented folks isn’t easy to come by nor is retaining them. Unless you have a crisp understanding of what CPH is and what metrics can be used to know approximately how much the entire hiring process costs you is paramount to developing a cost friendly hiring strategy that meets the specific requirements.

Being in to the recruitment fraternity; we @SourcingADDA, a Talent Acquisition community, try our level best to keep our members up to date with the current developments in the industry that we so enjoy. And having such proactive members makes it even more fun to learn and improve as a closely knit community. With that realisation in mind; one of our Bangalore group member’s Omar had suggested we discuss about, the Metrics used in Recruiting: Cost per Hire. Where we consider the time taken right from the source up to the hire stage and how can we make the process more effective and efficient? For our fellow Talent Acquisitionist’s alike. The responses we received right from the Trendsetters desk gives us a much better outlook towards commonly visited topics, challenges faced and the possible solutions to overcome these difficulties. To which you too have access to in the views expressed below

The perspectives shared above portray a realistic picture giving us a fair idea of what areas may require tweaks to deliver the results we as Talent Acquisitionists wish to achieve. With a clear understanding of the CPH we will be able to create effective hiring strategies that cater to the said requirements and be able to reduce the CPH wherever applicable. And so we can ensure that the quality of hires is maintained within the budget prescribed by the CFO.

Additionally, if you are interested in knowing more about some of our other discussion then the WhatsApp Group Chat Reasons and Solutions to reduce IT Candidate’s Offer Acceptance & backing-out ratio might be a good read to rethink on your next hiring strategy. And if you wish to hire at scale then be sure to join us on WhatsApp and get more involved by

1. Following us @Sourcingadda for real time updates to our upcoming activities and events
2. a) Leaving your views or requests to join these groups in our comments section below

OR

b) DM us to @Sourcingadda with your name, WhatsApp. Contact no. and location

Where one of our representatives will get back to you at the earliest or you can be proactive and register yourselves immediately to stay abreast in the latest recruitment trends. Become a part of the recruitment community as it is the best place to remain tuned to the latest developments within the recruitment fraternity. The platform is one where you are sure to get live insights from thought leaders within the recruitment sphere. The inputs thus shared are by trend setters that cater to the obvious challenges faced with live solutions to help you achieve your organisational or individual goals. You can leverage the opportunity to build connections and grow your referral pipeline or up-grade your candidate sourcing skills to capture exceptional and potential talent at scale.

Recruitment metrics are essential to identifying whether a hiring strategy is effective in achieving hiring success. They are the key to evaluating the effectiveness of the hiring strategy because they provide companies and hiring manager’s with actionable insights to improve and optimise the current recruitment process. The metrics used can save the cost to hire and is therefore not to be taken lightly.

And Talent Acquisitionists are held accountable by Hiring Managers or CFO for metrics that justify the Cost Per Hire (CPH). For Hiring Managers or CFO the main focus is more on reducing CPH, this development impacts the quality of Talent Hired. In spite of this development Recruiters have to ensure that they don’t compromise on obtaining good talent which is difficult to maintain. The reason for this being the case is that exceptional talent sometimes require additional perks to hook them to a great offer and retaining them once on boarded is a discussion for another time. To gauge whether your hiring efforts are effective; we @sourcingadda conduct discussions to get a clearer understanding of aspects that are relevant to our members. Having said that one of our Bangalore group member’s Omar suggested we discuss on, Current industry standards in hiring metrics so let’s have a look at the insights we received below

The interaction above helps us get a better idea of the hiring metrics that are used. It also gives us alternative options and good insights to watch out for when running such metrics. It helps us gain a better understanding of the practical application of the alternatives mentioned and what is currently the trend. All of these aspects mentioned by and large keep us updated with the latest developments in the recruitment fraternity we’re all a part of. It helps us prepare better when times are changing and become trend setters.

If you are interested in getting a better perspective about a candidate’s expectations that are inclined to the CTC then the WhatsApp Group Chat Setting Candidates Expectations Specific to CTC is a good read. But if you rather wish to know about the office timing trends then the WhatsApp Group Chat Trends Followed in Office Timings and Late Mark Rules would be a good place to start. As it will help you rethink what you are familiar with and accordingly tweak your strategies to keep up with the changing times. To learn more about how you can hire at scale then join us on Whats App and get more involved by

1. Following us @Sourcingadda for real time updates to our upcoming activities and events
2. a) Leaving your views or requests to join these groups in our comments section below

OR

b) DM us to @Sourcingadda with your name, WhatsApp. Contact no. and location

Where one of our representatives will get back to you at the earliest or you can be proactive and register yourselves immediately to stay abreast in the latest recruitment trends. By become a part of the recruitment community you are sure to remain tuned to the latest developments within the recruitment fraternity. The platform also provides you with live insights from thought leaders within the recruitment sphere. The inputs thus shared cater to the common challenges faced by Talent Acquisitionists like yourselves and help you achieve your organisational or individual goals. As a member you can leverage the opportunity to build connections and grow your referral pipeline or up-grade your candidate sourcing skills to capture exceptional and potential talent at scale.