A survey conducted by The Adler Group asked recruiters and recruiting managers to choose their top key metrics to determine a recruiting team’s success. It is important to know the rate of success of an RPO; many organizations lack the knowledge to understand. Using certain key metrics gives the organization values that can be compared.
Also organizations should have obtainable expectations from an RPO. Many organizations make the mistake of having unrealistic goals, and are often left disappointed in the outcome. Best in class RPO’s have typical results that include:
Higher offer acceptance rate- Overall 90% acceptance rate
Higher new hire retention rate- 55% improvement in new hire
Time-to-fill- 60% reduction in time to fill
Higher staffing efficiency ratio- Significantly increases
Lower cost per hire- Reduce it by 48%
Quality of candidate- 97% improvement
Hiring manager satisfaction- 67% increase in hiring manager satisfaction
*Aberdeen Group report “RPO in 2009”
It is important for an organization to know what key metrics to use to follow the success of the RPO. Knowing how to measure can lead your organization to increased ROI as well as time saving.