Metrics All Recruiters Need to Know

Today’s most effective recruiting organizations must be strategic, by tracking metics and leveraging data. These four metrics will help you benchmark (and boost!) your recruiting activity, paving the way for lower costs and better quality hires.

HOW TO PLAY THE GAME

HOW DO YOU STACK UP?Appcast’s research from over 750 companies across every major industry revealed an aver-age cost-per-click (CPC) bid of $0.55 in 2016.

HOW TO PLAY THE GAME

COST-PER-CLICK (CPC) JOB AD BIDWhat it Means: The amount you’re willing to spend every time a candidate clicks on one of your job listings.

What it Indicates: The percentage of applicants coming from each channel or source.

HOW DO YOU STACK UP?On average, the source of job boards and career sites account for almost 90% of all applicants, according to Jobvite’s 2017 Benchmark Report.

HOW TO PLAY THE GAME

SOURCE OF APPLICANTS

HOW DO YOU STACK UP?Recruiting continues to move faster and faster each year. The average time-to-hire was 39 days, decreased by 9.3% from 44 days in 2015.

HOW TO PLAY THE GAME

TIME-TO-HIREWhat it Indicates: The length of time between date of application and date of hire.

Once you begin tracking these four key metrics, you’ll be on the path towards a stronger recruiting strategy! Don’t forget to report on these metrics on a regular basis. It’s key to fine-tuning and optimizing the results you drive from your recruiting strategy over time.

CLICK-TO-APPLY RATE (CTA)What it Indicates: The percentage of candidatesthat apply after clicking on your job ad.

Understand Your Conversion Data. If you’re below the average CTA, then maybe your ad isn’t compelling or concise enough. The ideal job title is between 51-60 characters and the best job descriptions are between 501-1,000 characters.

Streamline the Process.A lengthy application form or complex user interface deters candidates from applying and lowers your CTA. Shorten your application to the bare minimum number of fields to increase your apply rate.

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Spend Wisely. Reserve budget for the hard-to-fill jobs; a high CPC can be indicative of a smart recruiting strategy—if it’s generating applications and ultimately leading to hires on your hard-to-fill roles. Test and understand what CPC bid drives the optimal number of applicants.

Supply & Demand. CPC job bids are a pay-for-performance investment. The upside is that you only pay when someone clicks on your ad—but the downside is you may spend more without converting candidates to applicants.

Optimize. The longer the time between application to hire, the worse the candidate experience. Set quantitative goals for every stage of the recruiting funnel to find out where the bottlenecks lie.

Streamline Your Process. Lowering your time-to-hire signals a more efficient hiring process. That’s why we’re seeing a downward trend in time-to-hire, despite economic uncertainty, fewer qualified applicants in the market, and more candidates rejecting offers.

Optimize. Compare your applicant sources to hire sources to see which ones deliver the perfect combination: fewer resumes to wade through and more high-quality applicants.

Quality over Quantity. While a high application rate by source could be good news, make sure to look at its hire rate too. Internal hiring is 5X and referrals 6X more effective than job boards.

HOW DO YOU STACK UP?A high click-to-apply rate indicates a strong applicant flow.

Data from Appcast’s 2017 Recruitment Media Benchmark Report shows that across every major industry, the average click-to-apply (CTA) rate is 7.5%. It’s 10.5% for applicants on a desktop computer and only 4.5% for applicants on a mobile phone.

ON THE PATH TO SUCCESS!

Appcast is using data and programmatic targeting to revolutionize the global recruitment advertising industry. From its namesake pay-per-applicant job ad exchange to its market-leading recruitment media optimization platform, Appcast is changing how leading employers, ad agencies, and job boards attract high-quality job seekers.

Jobvite is the industry leader in recruiting software that helps companies hire top talent easily, e�ciently, and e�ectively. Our comprehensive recruiting platform accelerates recruiting with an easy-to-use ATS, recruitment marketing and sourcing tools, advanced analytics, and onboarding. Focused exclusively on recruiting software since 2006, Jobvite has thousands of customers including LinkedIn, Schneider Electric, and Zappos.

www.jobvite.com www.appcast.io

Sources:Appcast’s Recruitment Media Benchmark Report, 2017.

“Recruiting Benchmark Report,” 2017, Jobvite.