Recruitment can feel like a numbers game, but not all numbers are created equal. With hiring becoming increasingly competitive, measuring the right metrics and KPIs (Key Performance Indicators) can transform how HR teams demonstrate value, optimise processes, and drive results.
At Peeq, we know that numbers tell stories… stories about your team’s efficiency, candidate experience, and long-term business impact. This guide combines the essential recruitment metrics and KPIs that HR leaders need to track to stay ahead of the curve.
Why Recruitment Metrics and KPIs Matter
Before diving into the specifics, let’s start with the “why.”
Tracking recruitment metrics isn’t just about ticking boxes or reporting to leadership. It’s about:
- Identifying bottlenecks in your hiring process
- Improving candidate experience
- Proving ROI on your recruitment strategy
- Making data-driven decisions to attract and retain top talent
When you focus on the right metrics, you can unlock clarity on what’s working – and where there’s room to grow.
1. Time-to-Hire and Time-to-Fill
One of the most critical recruitment metrics, Time-to-Hire measures how long it takes to move a candidate through your recruitment funnel, from application to offer acceptance.
Meanwhile, Time-to-Fill covers the entire process – from the job opening being posted to the position being filled.
Why it matters:
A lengthy process can lead to losing top candidates and increasing hiring costs. Tracking these metrics helps pinpoint delays, streamline workflows, and improve efficiency.
Peeq Insight: Are your hiring managers aligned on timelines? A clear process and committed stakeholders can make all the difference.
2. Cost-Per-Hire
Cost-Per-Hire combines your recruitment expenses – from advertising to recruitment agency fees – divided by the number of hires in a specific period.
Why it matters:
It highlights the financial efficiency of your hiring efforts. As budgets tighten, knowing your cost-per-hire can help justify spending and identify areas for cost-saving.
Quick Tip: Don’t forget hidden costs like interview time for internal stakeholders or onboarding expenses.
3. Quality of Hire
This one is the holy grail of recruitment metrics. Quality of Hire measures the value a new hire brings to your organisation over time.
How to track it:
- Performance scores at 6, 12, and 18 months
- Retention rates
- Feedback from managers and peers
Why it matters:
Hiring isn’t just about speed – it’s about sustainability. A high-quality hire reduces turnover, boosts productivity, and contributes to company growth.
Peeq Insight: Align your hiring goals with performance outcomes for a clearer view of long-term success.
4. Candidate Experience Score
It’s no secret: candidates talk. From Glassdoor reviews to word-of-mouth, a poor experience can damage your employer brand.
Track Candidate Experience through surveys post-application or post-interview.
Consider metrics like:
- Net Promoter Score (NPS) for candidates
- Feedback on the application process
Why it matters:
Positive candidate experiences drive brand reputation and make attracting future talent easier.
Quick Fix: Streamline communication. Candidates shouldn’t have to guess where they stand in the process.
5. Offer Acceptance Rate
Offer Acceptance Rate is a simple but powerful KPI: the percentage of job offers accepted versus those rejected.
Why it matters:
High rejection rates often signal issues with salary competitiveness, misaligned expectations, or an unattractive recruitment process.
Peeq Insight: Talk to candidates who decline offers. Understanding the “why” can help you adjust your strategy.
6. Retention Rates
Recruitment doesn’t stop at hiring – it continues into onboarding and retention. Retention Rate measures how many hires remain in the company after 1, 2, or 3 years.
Why it matters:
High turnover equals higher costs. A strong retention rate reflects successful hiring decisions and a supportive company culture.
Concluding Thoughts
In summary, tracking the right recruitment metrics and KPIs allows HR leaders to move beyond guesswork and build a clear, data-driven hiring strategy. By focusing on efficiency, quality, and candidate experience, you can ensure your recruitment process delivers real value to the business.
