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Planning for Success: Setting Your 2018 Recruiting Metrics and KPIs Strategy

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Today’s talent acquisition teams are operating in a demanding environment. Unemployment is at a historic low and the competition for skilled professionals exceeds supply. To be successful, recruiting organizations should be lean and structured while focusing on process, measurement, and communication.

Shauna Geraghty, Head of Talent at Talkdesk, shares how her team defines their analytical strategy by measuring:

Efficiency - funnel and hiring metrics
Effectiveness - hire quality, referrals, and manager feedback
Candidate Experience - candidate feedback and new hire surveys

Published in: Recruiting & HR
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Planning for Success: Setting Your 2018 Recruiting Metrics and KPIs Strategy

  1. 1. Planning for Success: Setting Your 2018 Recruiting Metrics and KPIs Strategy Shauna Geraghty Head of Talent at Talkdesk Daniil Karp Director of Marketing at Teamable
  2. 2. Meet the Presenters Shauna Geraghty Head of Talent at Talkdesk First U.S. employee at Talkdesk Doctorate in Clinical Psychology Daniil Karp Director of Marketing Teamable
  3. 3. AGENDA Introductions Talent at Talkdesk Recruiting Metrics and KPIs Teamable overview 1 2 3 4 Teamable and Talkdesk Strategy and Definitions 5 Audience Q&A
  4. 4. 1 2 3 4 HOUSEKEEPING Let’s make it interactive Share with your colleagues On demand recording will be available Stick around for the Q&A
  5. 5. Hire Top Talent Faster
  6. 6. SCALE YOUR BEST SOURCE OF QUALIFIED CANDIDATES Drive referrals Source passive candidates Seamlessly integrates with your ATS
  7. 7. Meet Talkdesk Cloud contact center platform Founded in 2011 $24.5M in funding through Series A 300 people in SF, Lisbon and Porto Hypergrowth (10x YoY)
  8. 8. Talent at Talkdesk Reports to COO Strategic business partner and service organization Aggressive headcount goals ○ 100 engineers within a year ○ 80 in SF with 30% senior talent (director and above) Team ○ SF: Head of Talent, 4 full cycle recruiters, 2 sourcers and 1 talent operations ○ PT: Head of Talent, 7 full cycle recruiters
  9. 9. 3 Pillars of Talent at Talkdesk Optimize efficiency >> increase velocity ○ Standardize interview process ○ Control for variables Optimize effectiveness >> make most informed hiring decision ○ Include bar raisers ○ Standardize interview questions Optimize candidate experience >> enrich our Talent Community ○ Eliminate candidate-initiated dropoff ○ Promote Talkdesk brand >>>>>>> all help us hire top talent
  10. 10. Defining the Metrics and KPI Strategy Consider the needs of all stakeholders: Executive team FP&A Hiring managers Recruiters Sourcers Candidates Employees Head of Talent
  11. 11. Defining the Metrics and KPI Strategy Consider important influencers: Company culture and values Most emergent needs of the company and team Strategic Initiatives Goals and areas of focus for that time period
  12. 12. Defining the Metrics and KPI Strategy Structure data based on the audience and their needs ○ Unique reports for unique stakeholders Examples: pipeline report for hiring managers, candidate survey results for Talent Operations, hires to goal MoM for FP&A and quality of hire for executive team ○ Define a unique reporting cadence for each stakeholder Examples: weekly pipeline reviews with hiring managers, headcount planning meetings twice per month with executive team and FP&A, quarterly summaries to talent team and executive team, weekly prospecting and funnel metrics for talent team meeting
  13. 13. Talkdesk Metrics and KPIs Based on 3 Pillars of Talent at Talkdesk: Optimize Efficiency Optimize Effectiveness Optimize Candidate Experience Standardize Interview Process Control for Variables Include Bar Raisers Standardize Interview Questions Eliminate Candidate-initiated Drop Off Promote Talkdesk Brand
  14. 14. Talkdesk Metrics and KPIs - Efficiency Number of hires ○ Hires by department, recruiter, sourcer, hiring manager, source, inbound source, referral source and time period ○ Hires to goal
  15. 15. Cost per hire Cost per hire = (Cost per source + (talent team salary + .25*talent team salary) + referral payouts) / number of hires) Total savings Total Savings = (Annualized salaries of new hires *.2) - (total cost) Talkdesk Metrics and KPIs - Efficiency
  16. 16. Talkdesk Metrics and KPIs - Efficiency Funnel metrics ○ Prospecting activity Emails sent, number of conversions, number of hires and quality (number of added prospects that converted to hires) ○ Conversion rate throughout funnel Fed into capacity model Helps define headcount on talent team Serves as guidepost for defining hiring priorities
  17. 17. Talkdesk Metrics and KPIs - Efficiency Funnel metrics
  18. 18. Talkdesk Metrics and KPIs - Effectiveness Magic number ○ Candidate quality * difficulty Quality determined by performance relative to team or peers New hire data is pulled from average tribal score Difficulty determined by factors such as seniority, talent pool, recruiter level of involvement in process ○ Quarterly target is 100
  19. 19. Talkdesk Metrics and KPIs - Effectiveness
  20. 20. Talkdesk Metrics and KPIs - Effectiveness Hire quality by source ○ Average hire quality by source (and inbound source) Offer acceptance rate ○ Percentage of written offers submitted to candidates that are accepted ○ By recruiter, hiring manager and role ○ Aggregate rejection reasons and create action plans
  21. 21. Talkdesk Metrics and KPIs - Effectiveness Employee retention ○ 90 days vs. 365 days ○ Churn within 90 days is mis-hire Referrals ○ Total employee referrals ○ Percentage of new hires from referrals Business outcomes measures ○ Customer retention, customer satisfaction, revenue per employee and ROI on workforce expenditures
  22. 22. Talkdesk Metrics and KPIs - Effectiveness Hiring manager feedback ○ How satisfied are you with: The recruiter’s understanding of the job requirements and your hiring needs? The quality and quantity of candidates presented to you for hiring manager phone screen? The candidate's preparation for the interview and level of excitement about the role? The assessment and screening of the candidates by the recruiter? The quality of new hires that you and this recruiter brought to Talkdesk? ○ How would you rate the effectiveness of communication between yourself and the recruiter throughout the hiring process? ○ Would you like to work with this recruiter again?
  23. 23. Talkdesk Metrics and KPIs - Effectiveness Talent Team Self-Evaluation and Performance Evaluation Anchors: 5 - Exceptional - Performance is consistently superior and exceeds position requirements 4 - Above Average - Performance frequently exceeds position requirements 3 - Average - Performance consistently meets position requirements 2 - Below Average - Performance meets some but not all position requirements 1 - Poor - Performance consistently fails to meet minimum position requirements; employee lacks skills required or fails to utilize necessary skills N/A - New or Not Applicable - Employee has not been in a position long enough to have demonstrated the essential elements of the position and will be reviewed at a later agreed upon date
  24. 24. Talkdesk Metrics and KPIs - Effectiveness Talent Team Self-Evaluation and Performance Evaluation Constructs: Quality of Hires The quality of hires was at (“Average”) or exceeded (“Above Average”) the quality of the current team. This was assessed by: tribal score, manager performance evaluation, quantitative performance and voluntary/involuntary turnover within first year of employment. Quantity of Hires Recruiter consistently met (“Average”) or exceeded (“Above Average”) their target of two hires per month. Hiring Manager Satisfaction Satisfaction of hiring manager with results. This was assessed by hiring manager evaluation form (understanding of job requirements and hiring needs, quality and quantity of candidates/hires, candidate preparation, assessment of candidates and communication).
  25. 25. Talkdesk Metrics and KPIs - Effectiveness Talent Team Self-Evaluation and Performance Evaluation Constructs: Candidate Experience Candidate satisfaction with the interview experience. This is assessed by: candidate survey results, direct observation and qualitative feedback provided to Head of Talent. Greenhouse Data Integrity Quality and completeness of data within Greenhouse. This includes: stage changes, notes, quantitative anchors, scorecard constructs, profile data (CV, referral source, contact information) and hiring team scorecard submissions. Effort Sustained and focused effort. This includes: productivity, initiative and continuous improvement.
  26. 26. Talkdesk Metrics and KPIs - Effectiveness Talent Team Self-Evaluation and Performance Evaluation Constructs: Prioritization of Time Prioritization of time and effort. This includes: planning, organization, efficiency, task completion timeliness, adhering to hiring priorities, aligning efforts with the company and maintaining healthy funnel metrics. Process Adherence to the established Talent process. This includes: prospecting (quality of outreach, cadence and funnel quality), interview structure and tribal structure. Professionalism Professionalism within the role. This includes: reliability, responsiveness, integrity, accountability, collaboration, attitude, receptiveness to feedback, verbal and written communication and formulation of business relationships.
  27. 27. Talkdesk Metrics and KPIs - Candidate Experience Candidate feedback ○ Qualitative and quantitative ○ Data segmented by department, hiring manager, recruiter and role ○ QoQ and YoY
  28. 28. Talkdesk Metrics and KPIs - Candidate Experience New hire surveys ○ 30 days after start ○ Feedback about interview and onboarding process New hire focus groups ○ Representative sample ○ Feedback is coded and analyzed
  29. 29. Summary When designing your KPI and metrics strategy, consider the needs of: ○ Key stakeholders ○ Main influencers Company culture and values, most emergent needs of the company and team, strategic initiatives, goals or areas of focus for that time period Structure data based on: ○ Key stakeholder and their needs ○ Cadence of presented feedback
  30. 30. Summary Talkdesk metrics and KPIs are structured around “3 Pillars of Talent at Talkdesk” - Efficiency, Effectiveness and Candidate Experience ○ Efficiency Number of hires, cost per hire and funnel metrics ○ Effectiveness Hire quality, offer acceptance rate, employee retention, referrals, business outcomes measures, hiring manager feedback and performance evaluation ○ Candidate experience Candidate feedback, new hire surveys and new hire focus groups
  31. 31. Summary An effective recruiting metrics and KPI strategy: ○ Creates alignment towards a shared goal (optimize 3 pillars >> hire top talent) ○ Increases awareness of Talent Team process, priorities and performance Positions ourselves as a strategic business partner to hiring managers and a top performing team within the organization ○ Facilitates workforce planning and drives company strategy
  32. 32. Action Items 1. Make a list of all metrics that you track over time 2. Ensure that your metrics are comprehensive or fill in gaps a. Create a list of all key stakeholders and group metrics under each b. Create a recruitment funnel and group metrics in each segment c. Create a list of all important influencers and group metrics under each 3. Structure dashboards and reporting cadence based on step 2 4. Create a framework for your metrics and KPI strategy a. Group metrics within concrete categories that align with areas of focus for your team 5. Regularly reevaluate your recruitment metrics and KPI strategy
  33. 33. Hire Top Talent Faster
  34. 34. A BETTER WAY TO DRIVE REFERRALS 70% average company-wide adoption rate Seamlessly integrates with your ATS System of record for referrals Employee Side
  35. 35. A POWERFUL SOURCING TOOL Source candidates across the major social networks 1,000 connections added per employee Advanced search functionality Recruiter Side
  36. 36. Engage employees to proactively refer candidates in their networks. Empower your team to identify passive candidates connected to current employees. Optimize and track employee referral flows. HOW TEAMALBE PARTERNS WITH RECRUITERS 1 2 3
  37. 37. LEARN WHY THESE COMPANIES USE TEAMABLE: WWW.TEAMABLE.COM
  38. 38. Talkdesk is Hiring! We are hiring for all teams across three locations Apply at www.talkdesk.com/jobs/ Contact shauna@talkdesk.com for more information
  39. 39. Thank you! Q&A

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