As technology evolved, technical transformation is happening across industries whether its financial services, education, cybersecurity, recruiting & staffing or healthcare and increasing the number of tech jobs. To improve the effectiveness of tech hiring process, you should know the tech recruiting landscape. Then you can determine how effectively your company is hiring for tech roles.
Nowadays, companies want their recruiting teams to illustrate the ROI based on recruiting metrics that give an insight into the effectiveness of a company’s staffing process.
There are the benchmarks to compare such effectiveness. Here are the key metrics that are the benchmarks and staffing professionals use to evaluate the success of their recruiting process.
It explains how many open technical positions recruiters can handle at once. To keep a balance, there should be the right number of applications per recruiter. Too much load could increase time-to-hire and too few may cause missed hiring objectives.
As per data analysis, recruiters handling 1-4 applications would have an average time-to-hire of 29 days. On the other hand, those handling 20+ applications would average at 45 days. So recruiters handling fewer applications will be quick in hiring.
So, the company handling more applications at once tend to hire at a slow rate and longer time to hire impact a company’s productivity. It impacts hire quality because your best candidates may drop out if they don’t feel respect for their skills or time.
Monitor how much time the hiring panel is giving in evaluating, screening & interviewing each candidate. Regardless of the corporation size, it is 2.2 hours on average. Ensure you use your time efficiently. You can reduce it by lessening the number of interviewers in the panel, or through the automated screening processes.
The tech talent landscape is competitive. One of the key metrics is what is your requirement for tech talent. Most of the companies need to fill mid-level positions and in the highest demand followed by entry-level positions. You will see slight differences in hiring time at different levels. Some technical positions are harder to fill due to longer sourcing process such as high-level roles.
Other metrics are candidates per hire, retention, offer acceptance per hire that affect hiring effectiveness and ROI.
Takeaways on Key Hiring Metrics for Tech
If recruiters can reduce the number of assessments, the hiring process will be faster than the companies handle the most concurrent requisitions.
Streamline the evaluation process through automated pre-screening. The automated processes can handle robust tech recruitments in a proactive approach.
Avoid unnecessary long evaluation processes that may waste recruiting teams’ time.
If you want to increase your recruitment efficiency, optimize source channels. Stonebridge Technologies can be your efficient partner with quality hires.
Stonebridge Technologies is a leader in providing tech staffing services. It has expertise in a wide array of technologies in areas like cloud engineering, mobile network solutions, and product engineering and can take care of helping your team offer the best solution to your clients.
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