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Recruiting Metrics That Matter

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Recruiting Metrics That Matter

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Recruiting costs can add up. Making sure you're getting the most value for every dollar spent is important and requires a healthy amount of analysis. But deciding what measurements provide the......

Recruiting costs can add up. Making sure you're getting the most value for every dollar spent is important and requires a healthy amount of analysis. But deciding what measurements provide the right insight can be daunting. This presentation helps define the right metrics and offers methods for recruiters to be more strategic in their approach. After the presentation, be sure to download the eBook: Recruiting Metrics that Matter by David Creelman for an even more in-depth look!

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  • 1. RECRUITING METRICS THAT MATTER
  • 2. Recruiting metrics are much more than spreadsheets. Good metrics are answers to key business issues. So, how can you find metrics that matter…?
  • 3. Ask questions that matter to the business.
  • 4. When leadership says they want to know: • quality of hire • cost-per-hire • source of recruits • time-to-fill
  • 5. These generalized metrics, across an entire organization… Are difficult and time- consuming to compile Provide vague averages at best Rarely lead to insightful change
  • 6. The American National Standards Institute (ANSI) has useful guidelines on how to accurately measure cost-per-hire… When we say difficult and time-consuming…
  • 7. 37 The number of pages it takes for ANSI to explain how to calculate cost-per-hire.
  • 8. Which would you rather know? What is our quality of hire? - or - What is our quality of hire in our most critical jobs? To be more successful, get more specific.
  • 9. For example, it may not be about cost-per-hire… it may be that management suspects the company is taking the easy but expensive route of using staffing agencies, when hiring could be handled equally well in-house. If that’s the real question, then the metrics that matter are: How often agencies are used and for what jobs. Uncover the real purpose of the metrics.
  • 10. Do they want to know “time to fill” or… “What’s holding up our critical projects?!”
  • 11. “Are we spending limited recruiting dollars in the right places?” Is it “What’s our best source of hire?” or…
  • 12. To measure for recruiting metrics, you need to have a well-defined recruiting process. That process should be sufficiently automated so you can track how long each step takes. Good metrics require good tracking systems.
  • 13. For example, to determine source of hire, ask yourself: • Is our talent management process capturing source of hire accurately? • Several sources are often involved for a single hire – can our system handle this kind of complexity?
  • 14. It is easy to justify the investment in an up-to-date system. When HR uses recruiting metrics to answer questions that matter to the business…
  • 15. The final answer should be a short presentation to management. • Identify the real issues at hand • Present and interpret the data • Respond to questions • Suggest actions to take When you’re done, make your metrics meaningful.
  • 16. The process is much more focused– and, frankly, much more fun. When the goal is to answer questions that matter, (and not just deliver numbers)…
  • 17. Think in terms of seeking the answer to an important business question, not just numbers. Educate leadership on the complications and drawbacks of producing generalized metrics. Make sure you have a good talent management system to collect and analyze data. TAKEAWAYS
  • 18. Download the Full Paper (click this box) Thank you!
  • 19. About SilkRoad SilkRoad® is a leading global provider of cloud-based, end-to-end talent management solutions that enable customers to find, attract, develop, and retain the best talent. The award-winning SilkRoad® Life Suite® includes Talent Acquisition, Talent Development, and HRMS solutions that are delivered through a Talent Portal to drive greater engagement, collaboration, and user adoption. The suite is easy to deploy, easy to use, and affordable for businesses of every size. Visit www.silkroad.com for more information. @SilkRoadTweets Follow us on Twitter