Recruitment refers to the overall process of attracting, selecting and appointing suitable candidates for jobs (either permanent or temporary) within an organization. Whenever it comes to recruitment , we all talk about the stress a candidate undergoes but if we look at the other side of the coin, the HR managers or the recruiters suffer the same dilemma. They have to select a few out of the many and that is really challenging. They work on the entire procedure of recruitment according to their needs and maintain a code of conduct for all candidates.
“You don’t build a business, you build people and then people build business.”
If it is a software company, there would be coding rounds. If it is a consulting firm, it would conduct an aptitude test. Generally a company keeps three rounds: an aptitude test, group discussion and finally a technical/HR interview. A candidate has to clear all these three to finally become the employee of the company. 

Each company has its own standard and package. A company like flipkart comes with a higher and recruits less number of candidates as compared with Infosys or cognizant, whom we call mass recruiters. But it is necessary for all the HR managers to maintain certain recruitment metrics. Recruitment metrics help you gauge the effectiveness of your recruitment process.  Here are a few metrics that can guage the effectiveness of your recruitment drive.
  1. Sourcing hiringplugSourcing Channel:  It is important to know where the candidates come from. As technology has grown, so have the sources. Now we have channels like LinkedIn, Amcat, Elitmus, Hacker earth from where one can easily recruit candidates. Every recruiter should know:
    1. How many applicants came from each source;How many qualified applications were garnered from each source;
    2. Where the short listed applicants were sourced; and ultimately
    3. Where the successful candidate first heard about the position.                                                                                                                                          
  2. Available Vacancies: For any company, it is important to calculate the number of vacant positions available. Many of the firms or companies recruit the students but due to unavailability of posts they do send them the offer letter. This way they keep the students in dark as the students are under the conception that they have received the job but in the real time they are actually jobless. Hence it is very important for the companies to realize the number of vacancies available and recruit only that number of candidates.                                                                                                                                                    
  3. Gender equality at work hiringplugGender Mix: Women prove to be equally good entrepreneurs as men, hence it is important to have employees in a proper proportion. Many studies have shown the benefit of a mixed gender team, from greater innovation to greater profits. Think about placing a metric within your dashboard that measures the percentage balance of men and women on your team in three levels; front line, middle management and senior positions.                                                                                                                                 
  4. Time to hire: It is rightly said that time is money. It is very important to know for the recruiters the time they spend in the entire selection process and the time duration between when the advertisements are released to the time the candidates are recruited. Many of the companies give a huge time gap between the aptitude test and interview or take a long time releasing the final results. Companies with strong talent management processes have faster hiring times than those without. Of course, the exception is any market that is short of suitably talented candidates; if you have strict hiring standards, it may take longer to find the appropriate person.                                                                                                          
  5. Salary packages hiringplugPackage offered: This is one of the most important parameters to be taken care of. It is better to offer a higher package and recruit less number of candidates rather than recruiting hundreds for a lesser package as this gesture spoils the rapport of the company. Infact, this reduces the craze of the company in the minds of the students. Companies like Amazon, Microsoft, Goldman Sacchs, etc. offer huge packages to assure a craze in the students.                                                                                                     
  6. Cost per hire: According to a recent SHRM report, the cost-per-hire for small organizations (fewer than 1,000 employees) runs around $3,079, whereas larger organizations (more than 1,000 employees) had a cost-per hire of $4,285. It is important to understand the amount which needs to be spent on hiring the individuals as that can help adjust the hiring strategy accordingly. It is better to go with the newer platforms which provide better services at a cheaper cost.                                                                         
  7. Offer to Acceptance Ratio: Nobody enjoys rehashing the details of a tech hire that would have been a great addition to the team, if only he or she had accepted the position. It is important to keep the price of the offer at par the market standards. Developers say product details are the most important aspect of a new job.
If you are working within a large organisation, the clear way forward for easy collation of this information is a customized software application that gathers data from as many sources as possible and automatically populates a dashboard with figures and timelines. A portal can be launched for the HR managers through which they do not have to track these details manually. If customized software is not a possibility in your budget right now, a simple excel spreadsheet will do.

To continuously improve the features and standards, track the feedback on social media so as to ensure that the rapport of the company is always maintained in the market. This attracts the investors as well as the candidates. 
Posted in : Recruitment 
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Welcome to the world of Recruitments. RecruiterTimes endeavors to be the destination for Talent Acquisition stakeholders worldwide that provides what’s resourceful and what’s craved for, but with a twist. Our growing community includes Job Seekers, Job Givers, HR Professionals, Recruitment Firms and others involved in the Recruitment Ecosystem.
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