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While there are thousands of external talent sourcing channels and others that can be deployed internally, not all of the sources are productive for the organization. For those that are most effective and strategically aligned, it is worth investing time and resources to build long-term relationships to augment the speed and efficiency of the recruiting process.
Determining the most relevant external and internal talent sources should be performed through data analytics, looking at effectiveness metrics along the recruiting cycle and also at the performance of new hires coming from each of the sources. In line with this, some valuable metrics to use are source effectiveness ratio, selection ratio, hiring manager satisfaction, and quality of hire. However, there are several other metrics that might be more appropriate based on the organization’s objectives, industry characteristics, and competitive environment.