I had the following question asked of me and I thought I would share the answer. Tell me what you think as well!
Raj, would you know where I could find benchmarking data for hiring ratio's? I need to find out how many people I need to add to my pipeline to hire a certain number of people?
That’s a tough one to answer because it varies so much by industry sector and country and company. for example if you are Apple you might have thousands of applicants for 1 job, if you are totally unknown you may only have 5 applicants for 1 job so the ratio is so dependent on your brand as well and other factors like geography, salary and so much more. I would be cautious of anyone who says 10 applicants to hire 1 person or stats like that. Better to look at your historical data for the answer and also look at employee engagement at the same time - if you see that 5 years ago you had to attract 100 people to apply per job and engagement was low and now its much higher you could expect to have to look at fewer people to interview as your brand would have a much higher value in the eyes of your potential employees.
That said, we do see stats - in fact one of the things we do at our conferences, like the one in Vegas next month, is to have award winning companies share award winning recruitment campaigns and what worked for them - and they share the processes that are often very nontraditional and that’s what makes the difference in the results.
I am sorry I have not given you a number but its a hard question to measure because of the factors that affect it!
Publish Date: October 22, 2015 7:27 AM
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