A good executive recruiter uses efficiency metrics to figure out his or her own performance. It's not enough to simply record random figures: rather, he or she must measure the right things, so that anyone looking at the numbers can get a clear, easy-to-understand view of overall performance.
But what are these different metrics, and what do they mean? To understand this, it helps to look at the different metric categories recruiters use. Dr. John Sullivan divides them into three different types in a piece for ERE.net.
While business-impact metrics have a direct effect on the client and should be reported to senior executives, predictive metrics pertain to industry forecasts, like the future unemployment rate or number of competing recruiters. Lastly, there are internal metrics that recruiters can use to help improve.
With that in mind, the following are some common metrics, as suggested by both Dr. Sullivan and this 2010 article from Inc.com:
- Average salary of filled positions (business impact): This could help you determine the types of positions a recruiter places and whether they fall within your bracket.
- New hire failure rate (business impact): An important number to understand that reflects on whether the candidates on average lasted more than a few months in their new business.
- Days to fill a position (internal): Compare this with the recruiter's timeline for placement to see how good they are at staying on-task. YES Partners lists its week-by-week methodology on its website for easy access.
- Number of diversity hires (business impact): A simple way to see how experienced a recruiter is at helping companies grow. This metric could help match your business' own goals of being more inclusive.
Find out more about how your recruiter grades itself before the recruitment period begins, and you will have more of an idea what to expect during the process.
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