Five Key Metrics Every Hiring Manager Should Track

In businesses with high turnover - think, food or retail - managers spend a good portion of their time on hiring. The more efficiently and effectively they can hire, the less money and time they’ll spend, and the lower their turnover will be.

Here are the five key metrics I encourage employers to track to make sure their hiring processes are as efficient and effective as possible.

Conversion rate from each stage of hiring to the next (candidate review, interview, hire, offer acceptance, onboarding). It’s important for hiring managers to understand the shape of their candidate funnel and where there may be leakage. If very few candidates are even making it to the interview stage, is it because candidates are slipping away while waiting for hiring managers to respond? Are a lot of candidates getting interviews but very few actually getting hired? Are a lot of candidates ghosting at the interview stage? There are ways to address all of these issues, from auto-response tools to…