Source Of Hire | Meaning and Definition

Source-of-hire is a parameter or metric that helps measure or determine the percentage of the employee hired with the help of a specific referral and source and have entered the pipeline. These details will help the company fix a budget for the recruiting part.

 Need for Source of Hire:

•     The effectiveness involved in the process of recruiting can be measured.
•     Helps in cost reduction.
•     The quality of candidates selected for the company can be enhanced.
•     Insights are provided with the help of source-of-hire
•     Helps in giving proper channels to various resources.

Source-of-hire limitations:

•     The main focus on just hiring creates problems for the eligible candidates who came very close to the process of getting hired
•     Multiple sources are kept in between for the candidates to pass
•     This does not give perfect justification to the source reallocation