4.5 Recruitment Pipeline
When drafting a recruiting plan, it is easy to underestimate the time required for the process to unfold. On average, the time between posting an employment ad on a company’s website and having an employee sign an employment contract is around 40 days. If you change the end-point to when the new employee meets minimal performance requirements, the timeline is more like six months. Given this delay, HRM managers must be proactive and one step ahead of future vacancies. The objective is not simply hiring for open positions but hiring for positions likely to be open. A recruitment pipeline is a continuous process of attracting, screening, and nurturing potential job candidates to ensure a steady supply of qualified applicants.
Yield Ratio
Yield ratio is a performance indicator that pertains to the percentage of candidates from a specific source that made it from one stage to the next. For example, if 100 applicants sent resumes and 30 were given interviews. The yield of that step would be 30%. Essentially, the yield ratio shows the efficiency of the selected recruiting method. An HR manager could compare the yield of different recruitment sources to determine which one he or she should invest in for the future. For example, LinkedIn could yield 25% of interviewees compared to Indeed, with a yield of 20%. If the cost of posting is equal, posting on LinkedIn could be more beneficial. The image below shows the recruitment yield pyramid for “a company that received 240 applications, where only 120 passed the resume screening. Then, 30 were given a selection test. Only 15 were invited to an interview. Five went through to an executive interview. One received an offer” (Bika, n.d.).
“The Recruitment Process” from Human Resources Management – 3rd Edition by Debra Patterson is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.—Modifications: Used sections Recruitment Pipeline & Yield Ratio.
