Applications hired
HR Metric - Applications Hired
What (Definition)
The total number of applications received is important information for the company at the beginning stage of the recruitment process. Interested applicants will send their applications to the respective job posting that was advertised. Receiving a large volume of applications indicates a high level of interest in the vacancy.
The candidates will have to go through resume screening, interviews, skill assessments, and background checks in order to identify their suitability for the company. The job offer will be given to the applicant who completes all the steps successfully.
Applications hired are known as the total number of applications that were received during a period and got hired at any point in time. This calculates the percentage of the candidates who managed to place themselves in the company out of the total number of applications the company received
Why (Benefits)
The HR personnel and the candidate will have interactions in many stages, from receiving the application to appointing that candidate as an official employee. Hiring new employees for the company brings numerous benefits.
The company can respond well to new projects and seasonal orders because of its increased employee base. The new employees can provide a different perspective on the issues, which leads to creative solutions.
Bringing more employees into the company is an indication of the company’s growth. It also aids in long-term success and sustainability. A productive workforce can work efficiently. which will bring more revenue to the company.
How (Calculation)
Hiring can be a beneficial investment for the company when the right candidate is hired. The hiring team should look into whether the fresher can create a positive working environment. The mathematical calculation is presented in percentages to provide details on how productive the recruitment process was.
In order to calculate the hiring rate of the company, we must take the below details into consideration.
Total number of applications received for a specific job role
Out of the received applications, how many were successfully got hired
Apply these numbers to the formula and multiply it by 100 to get it a percentage.
Consider the given sample data for the recruitment process for a given time period.
Sample Applications Table for Hiring Process
From the above data we can see that the number of Hires = 4
Say, the total applications received are 10
Applications Hired = 4/10*100 = 40%
Source performance based on Applications Hired
This metric can be used to identify the sourcing quality of the multiple application channels used in hiring process. From the below example we can see that the applications from “Agency” tend to have lower hired rates. Key decisions like whether to continue using Agency as a medium of sourcing candidates can be made using this metric.
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To learn more about other recruiting metrics please visit HR reporting tools.