This document summarizes a presentation about recruitment metrics that matter for healthcare organizations. It discusses tying metrics like time to fill, interview to offer ratio, retention rate, hiring manager satisfaction, new hire satisfaction, and cost per vacancy to financial impacts. Benchmark data is provided for some metrics. The presentation argues that measuring and improving these metrics can increase employee satisfaction, lower costs, and ultimately improve patient satisfaction. It encourages healthcare leaders to focus on metrics that demonstrate the impact and value of recruitment.

1. Metrics that Matter: Recruitment and Acquisition
Complete Presentation
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2. Pinstripe Healthcare
In 2010…
More than 250 employees
Sourced more than 2 million resumes
Filled more than 54,000 positions
For more than 50 clients
And were recognized for our tailored solutions…
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3. The Platform for Measuring Talent Acquisition Activities
The Basics & Benchmarks to Recruitment Metrics
Impact on Patient Care
Q&A
AGENDA
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4. Tying Metrics to Money
• External environment is extending tremendous financial pressure
– Move to ACOs
– Increasing competition
– Shrinking reimbursements
– Government auditors and penalties for overpayments
• Internal focus on business function finances is increasing
– Lower costs without sacrificing quality
– Do more with fewer resources
– Align business strategies with patient satisfaction
Building a Business Case for Investment in People
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5. 60%
Percentage of
total healthcare
costs attributed
to labor.
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6. The Platform for Measuring Talent Acquisition Activities
The Basics & Benchmarks to Recruitment Metrics
Impact on Patient Care
Q&A
AGENDA
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7. Time to Fill
• Total number of days from opening a requisition to an
accepted offer.
Pinstripe Benchmark
– Analyze by job family, Position Time to Fill (Days)
recruiter and hiring manager Allied Health
52
Professional
– Track quarter-over-quarter
Healthcare IT
and year-over-year 48
Professional
Nurse 46
Support Service
36
Professional
Pinstripe Overall
45.5
Average
ASHHRA Overall
53.7
Average
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8. Time to Fill
Drivers Cost of Drivers
• Lack of clarity about required skills • Lost productivity
• Extended timelines due to hiring • Premium staff costs incurred
manager competing priorities
• Lost revenue
• Post-and-Hope recruiting
philosophy
Actionable Steps
• Invest upfront time in understanding the true staffing need
• Establish a clear process and timelines for recruitment
• Create mutual accountability between hiring manager & recruiter
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9. Interview to Offer Ratio
& Hiring Manager Investment
/
Number of
Candidates
Interviewed Number of
Accepted Offers
– Analyze by job family,
recruiter and hiring manager
– Track quarter-over-quarter
and year-over-year
Pinstripe Benchmark
2.8:1
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10. Interview to Offer Ratio
& Hiring Manager Investment
Drivers Cost of Drivers
• Lack of clarity about required skills • Hiring manager spends too much
time on recruiting
• Hiring manager’s decision making
ability and speed • Lost productivity
• Consensus-driven hiring • Premium staffing costs
• Poor candidate screening
Actionable Steps
• Conduct a job scope at the launch of the recruitment process
• Have hiring managers provide specific feedback when rejecting a
candidate
• Conduct thorough recruitment pre-screening, including behavioral
interview 10
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11. Retention Rate
• Number of employees who remain at an organization
over set parameters time.
1% = $1 million
– Track against those who left (voluntarily or not) at 90 days, one
year, two years, three to five years, five or more years
– Analyze by job family
Pinstripe Benchmark ASHHRA Benchmark
97% retained at 90 days 71% retained at one year
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12. Retention Rate
Drivers Cost of Turnover
• Selection and screening process • Additive recruiting costs
• Quality of onboarding • Increased orientation time and
expenses
• Increased HR expense
• Management burden
Actionable Steps
• Focus on a customized, highly engaging onboarding process
• Focus on qualifications and CULTURE FIT during screening process
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13. Hiring Manager Satisfaction
& Quality of Hire
• Percentage of hiring managers that agree or strongly
agree on hiring manager satisfaction survey:
“Overall, I was satisfied with the hiring process
specifically as it relates to my accepted offer(s) this past month.”
– Track against previous scores
– If working with providers, track before and after implementation
Pinstripe Benchmark
94% hiring manager satisfaction
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14. Hiring Manager Satisfaction
& Quality of Hire
Drivers Cost of Drivers
• Ability to fill positions quickly • Increased orientation time
• Ability to find high-quality and expenses
candidates • Lost productivity
Actionable Steps
• Solicit feedback from hiring leaders regarding their experience
• Track and report quality of hire metric
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15. New Hire Satisfaction
• Percentage of new hires that rate “Excellent” or “Good”
on new hire satisfaction survey:
“Overall, how would you rate your job seeking experience?”
– Track against previous new hire scores
– If working with providers, track before and after implementation
Pinstripe Benchmark
98% new hire satisfaction
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16. New Hire Satisfaction
Drivers Cost of Drivers
• Onboarding process • Early turnover
• Engaging orientation • Power of referrals
• Customer focused recruiting
process
Actionable Steps
• Customer focused recruitment process
• Leverage power of technology to optimize the recruiting process
• Hardwire the soft skills and culture fit in new employee
orientation
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17. Cost Per Vacancy
vs. Cost Per Hire
• Sum of all recruitment staff, HR overhead costs, agency fees,
contingency fees, recruitment marketing costs, hiring manager
time, ATS cost, electronic onboarding costs
• True cost resides outside of HR Department
– Lost revenue – Orientation time and cost
– Overtime costs – Preceptor salaries
– Agency fees – Unmanned beds/operational limits
– Management burden – Etc.
Focus exclusively on cost per hire
has resulted in an underinvestment in recruiting.
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18. QUESTIONS ON THE METRICS?
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19. “[W]e moved our employee satisfaction, this
year, into the eightieth percentile far quicker
than we’ve expected across the 8,400
employees. You know, and guess what?
The patient satisfaction followed right behind
and is up at that top, best-style performance as
well now.”
- Tim Rice, President and CEO of Cone Health
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20. When To Hire
Per Diem
Overtime
Temporary /
Agency Support
New Hire
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21. 21
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22. The Platform for Measuring Talent Acquisition Activities
The Basics & Benchmarks to Recruitment Metrics
Impact on Patient Care
Q&A
AGENDA
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23. Your Next Steps
1. Schedule a Conversation between Finance & HR
2. Establish Confidence
3. Encourage Feedback
4. Measure, Benchmark and Share Results Snapshot
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