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Recruiting Metrics - Strategic and Tactical KPIs for Talent Acquisition

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This is the deck I presented at the Social Recruiting Strategies in Boston. It presents how to create recruiting reports and uses Greenhouses' actual data as a case study to see how tracking recruiting metrics can improve your overall process.

Published in: Recruiting & HR

Recruiting Metrics - Strategic and Tactical KPIs for Talent Acquisition

  1. 1. Recruiting Metrics St ra t egic K PI s & t a c t ic a l report s for Ta lent A c quis it ion Maia Josebachvili VP of Strategy & People @MaiaJo_
  2. 2. Hi, I’m Maia VP of People & Strategy at Greenhouse Previously Director of New Initiatives at LivingSocial Previously Founder and CEO of Urban Escapes Inc 30 Under 30, 2010 Ex pro-skydiver @MaiaJo_
  3. 3. Why metrics matter Example: strategic KPIs Developing insightful reportsAgenda H o d i e O r d o F I G N º 0 1 Example: tactical reports4 Putting metrics into action5
  4. 4. Why recruiting metrics matter
  5. 5. Talent acquisition teams with mature analytics are more likely to have excellent recruiting outcomes. They are: - 2x more likely to improve their recruiting efforts - 3x more likely to realize cost reductions and efficiency gains
  6. 6. An optimized recruiting process is a key driver of company success. - Top employees can outperform average employees by 10x - Correcting a mis-hire can cost between14-28x the employee’s base salary
  7. 7. Not all reports are created equal.
  8. 8. Data must provide insights – not noise • Noise is distracting and can give false signals • Insightsdrive dramatic improvementsin your business
  9. 9. Insightful reports should be used to: - Understand the health of the business - Communicate progress - Diagnose bottlenecks - Drive decision making - Predict future performance
  10. 10. Developing a suite of insightful reports
  11. 11. Who is interested in understanding recruiting performance? 1 How often do they want reports?2 What questionsdo they have?3 Ask these 3 questions…
  12. 12. Who is interested in understanding recruiting performance? Audience 1 How often do they want reports? Cadence2 What questionsdo they have? Strategic vs Tactical3 Ask these 3 questions…
  13. 13. Audience and Cadence Audience: Execs, boards, hiring managers, head of talent, recruiters, etc. Cadence: Weekly, monthly, quarterly, etc.
  14. 14. Type of Report: KPIs or Tactical Data? Do they want to see aggregated high-level trends? Are they looking for a detailed snapshot? Strategic KPIs Tactical Data
  15. 15. Purpose of a KPI KPI = Key Performance Indicator Good KPIs are: 1) Key – focus on the most important metrics 2) Performance related – about results, not activity 3) Indicators – headlines, not the whole story
  16. 16. Don’t try to create a one-size- fits-all suite of reports. Stakeholders have different questions at different times.
  17. 17. Sample suite of insightful reports • Monthly strategic KPIs for executives, managers, and recruiters • Weekly tactical information for managers and recruiters
  18. 18. Example: monthly strategic KPIs for executives .
  19. 19. I nte rvi ewing S o urci ng Hi ri ng What questions do we have about the recruiting process? Number of QCs Monthly Strategic KPI’s Aggregated high-level trends
  20. 20. I nte rvi ewing S o urci ng Hi ri ng Do we have enough qualified candidates in the pipeline? Number of QCs Is our process efficient? Days to Offer Are we providing a good candidate experience? Candidate Satisfaction Score Are we closing the candidates we want to hire? Offer Acceptance Rate Are we hitting our hiring goals? Hires to Goal Monthly Strategic KPI’s Aggregated high-level trends
  21. 21. I nte rvi ewing S o urci ng Hi ri ng Do we have enough qualified candidates in the pipeline? Number of Qualified Candidates (QC’s) Is our process efficient? Days to Offer Are we providing a good candidate experience? Candidate Satisfaction Score Are we closing the candidates we want to hire? Offer Acceptance Rate Are we hitting our hiring goals? Hires to Goal Monthly Strategic KPI’s Aggregated high-level trends
  22. 22. Do we have enough qualified candidates in the pipeline? KPI: Qualified Candidates (QC’s) • Total candidates that make it past the first milestone in the funnel • Leadingindicator for whether a role is on track for timely hiring • For more insights, slice QC’s by source • Benchmark: Depends on the role, but generally you can expect15-25 QC’s per open job 0 50 100 150 200 250 300 April May June July August Total Initial Phone Screens
  23. 23. Is our process efficient? KPI: Days to Offer 24 25 26 27 28 29 30 31 32 April May June July August Average Days to Offer • Days in betweenwhen a candidate appliesand when he/she receivesanoffer • Proxy for overallpipeline efficiency • For more insights, slice by recruiter and Department • Benchmark: Across Greenhouse customers, average Days to Offer is 40 days
  24. 24. Are we providing a good candidate experience? KPI: Candidate Satisfaction Strongly Agree 29 76% Agree 4 10% Neutral 3 8% Disagree 1 3% Strong Disagree 1 3% “Overall, my interviewexperience was a positive one” • Results from candidate survey sent to allcandidates (offeredand rejected) who reach a certainmilestone • For more insights, slice by recruiter and Department and look into additionalsurvey questions • Benchmark: Across Greenhouse customers, average positive candidate satisfactionrate is 73%
  25. 25. Are we closing the candidates we want to hire? KPI: Offer Acceptance Rate (OAR) April May June July Aug Offers 10 15 11 12 11 Hires 8 12 7 10 9 Offer acceptance rate 80% 80% 64% 83% 82% 0 5 10 15 20 April May June July August Total Offers and Hires Offers Hires • Percentage of offersaccepted • Highlights the team’s ability to find mutually beneficialpointofagreement between candidates and company • For more insights, pull a report on offerdecline reasons • Benchmark: Across Greenhouse customers, average Offer Acceptance Rate is87%* * Data may be skewed high because some customers don’t “create” an offer until a candidate has verbally accepted, thus not counting several offer declines
  26. 26. Job Hires Goal Customer Success Account Manager 4 10 People HR Business Partner 1 1 Ops Analyst 1 1 Product Front-End Developer 1 1 Graphic Designer 0 1 UX/UI Designer 2 2 Sales SDR 4 8 ISDR 0 2 Account Executive 1 3 Tech Test Automation Eng 1 1 Technical Lead 1 1 Full stack 3 5 Are we hitting our hiring goals? KPI: Hires to goal (H2G) • Total hires as compared to the target number of hires for reach role • Leadingindicator of an organization’soverallability to meetits business objectives • For more advancedreporting, add columns for target and actual fill dates
  27. 27. Example: weekly tactical reports for hiring managers and recruiters
  28. 28. I nte rvi ewing S o urci ng Hi ri ng What questions do we have about our recruiting process? Number of QCs Weekly tactical reports Detailed snapshot of information
  29. 29. I nte rvi ewing S o urci ng Hi ri ng Are we getting new candidates? New applications this week How many qualified candidates did we get? Candidates moved past first milestone into QC How many late-stage candidates do we have? Upcoming face-to-face interviews Do we have outstanding offers? Summary of extended offers Weekly tactical reports Detailed snapshot of information
  30. 30. I nte rvi ewing S o urci ng Hi ri ng Are we getting new candidates? New applications this week How many qualified candidates did we get? Candidates moved past first milestone into QC How many late-stage candidates do we have? Upcoming face-to-face interviews Do we have outstanding offers? Summary of extended offers Weekly tactical reports Detailed snapshot of information
  31. 31. Are we getting new candidates? New Applicationsby Week Job Week 5/3 Week 5/10 Week 5/17 Android Mobile Engineer 45 78 55 Customer Success Manager 34 90 73 Office Manager and Culture Ambassador 12 40 20 Account Executive 110 145 144 CFO 3 2 4
  32. 32. How many QC’s did we get? Candidatesmovedpast Milestone 1(ApplicationReview) Job Week 5/3 Week 5/10 Week 5/17 Android Mobile Engineer 20 12 15 Customer Success Manager 15 5 10 Office Manager and Culture Ambassador 3 4 6 Account Executive 33 28 25 CFO 0 0 1
  33. 33. How many late- stage candidates do we have? Upcoming Face-to-Face Interviews Job Candidate Date Onsite Customer Success Manager Mariel Jonas Monday, June 1 Office Manager and Culture Ambassador Dave Petersen Deena Ansari Wednesday, June 3 Monday, June 1 Account Executive Gary Li Jess Koo Wednesday, June 3 Friday, June 5
  34. 34. Do we have outstanding offers? Summary of ExtendedOffers Job Candidate Date Extended Days Open Chat Support Specialist Priya Satha May 25 3 Accountant Neil Ryan May 26 2 People Ops Director Anna Ramos May 20 8 Infrastructure Engineer Christy Jackson May 26 2
  35. 35. Putting metrics into action
  36. 36. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived
  37. 37. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived Identify desired set of reports for each stakeholder
  38. 38. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived Ensure you have the ability to accurately & consistently generate the reports. If not, clean up the data or change the proposed set.
  39. 39. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived Once you have a set of reports you can reliably produce, review the proposal with stakeholders to ensure alignment
  40. 40. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived Make generating and distributing reports a consistent part of someone’s job
  41. 41. 1 2 3 4 5 Propose cadence & set of reports Identify process for generating Review proposal w/ stakeholders Operationalize generation& distribution Use insights derived Use insights to drive decision-making and diagnose bottlenecks
  42. 42. Thank you! @MaiaJo_ maia@greenhouse.io

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