Measuring your recruiting and sourcing can be difficult. Tracking the total number of applicants per job isn’t that difficult but it doesn’t tell which source is giving you the highest ROI and best leads. This leads to wasting money and time on ineffective sources.
To track the effectiveness of your recruiting sources I’ve created a free Recruiting ROI Calculator worksheet for Excel.
To use it you will enter each source and job posting you make and track the number of applicants, candidates, hires, and costs for each source as you get responses. Each source should be listed on a new row, even for the same position. That way you can compare different sources to find which ones are the best.