The HR recruiting process is one of the key processes for any organization and many leaders and opinion makers firmly believe that human resources are the biggest assets any company can have! This makes one believe that if your recruiting process is efficient and well balanced, the chances are, your firm will do wonders. Well, this also means that the overall human resources management solutions is extremely streamlined in the company and the human resource recruiting process is taken very seriously.
So, the key role for a company is to hire the right people, train them, retain them and make sure their needs are fulfilled. But for all this to happen, a proper recruitment plan needs to be in place. This plan depends on many factors like the size of the company, the goal of the company, the industry in which it operates budget etc. But once the plan is finalized, the job of the recruiters (whether inside the company or outsourced) come into play.
Well, if there is a recruitment plan and a strategy, there needs to be an evaluation too. Here are some guidelines which will help you evaluate your plan and for you to see where you went wrong how can you improve and where all you succeeded!
HR Recruitment Evaluation Plan
To begin with, congratulate yourself that you hired and gave jobs to so many people! Next, count the number of new hires in the company for that year (or on a quarter basis - depends on the way your evolution plan is framed). Remember, every company hired candidates from various sources - newspaper ads, consultants, HR management solutions company (Career Prospect - http://careerprospect.net/), employee referrals, headhunters, agencies, direct recruitment, walk ins, trade fairs etc. Make a list of number of hires from each resource. Well, the next step is to count the number of actual interviews you conducted. Divide the number of hires by the number of interviews and you will come to know the efficiency ratio. The higher the ratio, the better the efficiency!
The next logical step is to see how much you have spent on each recruitment source in terms of fees, advertising expense, commission etc. For E. g. - the consultant cost is INR 10,000 for the year and from him/her you got 3 new hires. Well, this means cost per hire is INR 5000. Do this for every source and you will come to know which are more efficient and which can be weeded out over a period of time! This will also give you the overall expense your company had to bear to recruit and hire new people for the year. Compare it to the initial HR budget and see how the company fares against it.
Once you have all these figures with you, the analysis becomes easy and it is easier to find out where you went wrong, how to improve and where you succeeded!
Human Resource recruitment is definitely a very crucial activity and thus the scrutiny is well developed and critical too - do it religiously for your company to succeed!
So you have a HR Recruitment plan in place but to know how to evaluate it, read on.