Recruitment Funnel Effectiveness

Recruitment funnel performance or effectivenes can be described as the organization's efficiency and success in leading candidates through the recruitment funnel from the first stage of initial awareness to application submission, interview selection, job offer acceptance, and finally onboarding. The recruiting funnel, also known as hiring funnel or talent acquisition funnel, represents the sequential stages that candidates go through during the recruitment process with the key goal of ultimately having those open positions filled by qualified and appropriate candidates.

Example of Recruitment Funnel Effectiveness

A tech startup determines the effectiveness of its recruitment funnel by evaluating key performance metrics and indicators of its recruitment process at every stage to pinpoint the weakest parts and thereby optimize the recruitment strategy.

• Sourcing effectiveness: Measures the effectiveness of different recruitment channels and sources which include job boards, social media platforms, employee referrals and recruitment agencies in bringing in quality candidates.
• Candidate engagement: Assesses the intensity of candidate interest and engagement with the employer brand and job positions, including but not limited to the website traffic, job views, email open rates, and social media engagement.
• Application conversion rate: Calculates the proportion of interested candidates who later submit applications after viewing the job posting or going through the initial screening interviews.
• Interview selection rate: Evaluates applicant acceptances to interviews based on their qualifications, skills and the position fit.
• Offer acceptance rate: Keeps track of the number of candidates who agree to job offers that the company has extended, which indicates the appeal of the employer brand, the compensation package, and the company culture.
• Time to hire: Assesses the period from job posting to candidate acceptance, thus, evaluating the efficiency of recruitment in filling in vacant positions and minimizing time-to-fill.