A Guide to Getting Started with Recruiting Analytics

Recruiting Analytics that Matter
A guide to getting started with
recruiting analytics
www.newtonsoftware.com

It’s time for your company to take corporate recruiting seriously and measure it like you would any of your other business processes.
“Even if you have not recovered your investment, hanging on to obsolete applicant tracking tools, old databases, and inefficient processes will hurt you.”
Kevin Wheeler, President and Founder of Global Learning Resources, Inc. and a globally-known speaker, author, columnist, and consultant in human capital acquisition and development.

Measure what matters.
With so much information created by recruiting programs, deciding what recruiting metrics to measure and analyze is daunting. If your organization is just beginning to look at recruiting performance or, if you’re trying to improve your existing recruiting analytics program, it’s best to start with the issues that effective performance the most – the basics.
“Crawl before you walk”
Steve Hazelton, Head of Products, Newton Software.


Metrics that answer questions
The recruiting analytics that you decide to capture should answer the most common questions that arise in recruiting. Focus on capturing information that will help you solve issues and bottlenecks before they become bigger problems. Performance metrics should allow you to be proactive and should allow you to answer questions in real-time.
When considering what to measure ask the following questions.


Are we receiving applicants for all of our open jobs?
If you’re not receiving applicants there’s nothing to measure. Start here. It’s critical to understand your applicant flow. This will determine how you utilize your time, money and recruiting resources.


What are our best sources of applicants?
Measure “noise” and “signal”. Your Monster.com rep calls and it’s time to renew your subscription. Is the service working? How many applicants did it yield (noise)? What source yielded the most interviews and hires (signal)? Answer these questions and more by tracking the source of all of your applicants.


What happens to the applicants we receive?
Ok, you’re getting applicants but what’s happening to them? Are you converting them into candidates that you interview? What are your conversion rates? Is there room for improvement?


How long does it take us to move applicants through our process?
Forget about “time to fill” as a key metric. If you only examine time to fill, how will you know where you can make improvements to your process? Capture how long it takes your team to move candidates from stage to stage in your process and you’ll quickly identify bottlenecks and areas for improvement.


Do we have any missed opportunities?
It’s important to set up your recruiting performance metrics to catch the most costly mistakes in recruiting – points of failure and indecision. Are managers making decisions on candidates. Are you missing opportunities to interview candidates? Are offers being accepted? Are candidates showing up after accepting offers? Measure what counts.


Interactive is better.
Spreadsheets are fine for financial models but, recruiting is dynamic. The content associated with recruiting is always changing. When you decide it’s time to get serious about recruiting performance metrics avoid spreadsheets and complicated report generators. Analyze the present. Choose a tool that allows you visualize all of your data on one central dashboard in real-time. Make sure your tool is interactive and can help you make decisions based on evidence.


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A Guide to Getting Started with Recruiting Analytics

by Newton Software on Mar 12, 2010

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A Guide to Getting Started with Recruiting Analytics — Presentation Transcript