Data-driven Talent Acquisition does not begin with choosing what KPIs:s are measured but rather understanding which are relevant depending on the company's current maturity and which end goal is in sight. You are what you measure, and by tracking relevant KPIs:s you can focus your attention on what is important.
Some KPIs:s are relevant to communicate the Talent Acquisition efforts internally and others can be used to work with continuous improvements. By measuring relevant KPIs and understanding the co-dependence between the KPI and the recruitment efforts, you unlock insights into what drives cost and causes delays in the recruitment process. But also what engages candidates, Hiring Managers and what works. By using relevant KPIs, you improve the candidate experience and other soft values of the recruitment process as well as reach tangible results by driving recruitment-related costs down.
As the function develops there will be a need to increase understanding of how money is spent efficiently and such KPIs as Sourcing Channel Efficiency (SCE) and Revenue Lost due to Position Vacancy (RLPV) become powerful tools to guide investment decisions to accelerate the pipeline speed.
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