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Talent Analytics ERE 2015

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Talent Acquisition and Recruiting Metrics and Analytics. Past, Present and the Future. A detailed look at Quality of Hire as a metric. Plus a new Benchmaking Solution

Published in: Data & Analytics

Talent Analytics ERE 2015

  1. 1. Talent Acquisition Analytics Rob McIntosh Chief Analyst ERE Media, Inc.
  2. 2. “Without data, you are blind and deaf and in the middle of a freeway.” – Geoffrey Moore
  3. 3. Most Talent Acquisition Functions are still blind and deaf
  4. 4. 2015 State of Talent Acquisition Survey (2,400+ TA leaders/Recruiters) Question: What Metrics Doesn’t get Tracked or Measured in Your Organization?
  5. 5. Question: What Metrics Doesn’t get Tracked or Measured in Your Organization? Diversity Hires = 31%
  6. 6. Question: What Metrics Doesn’t get Tracked or Measured in Your Organization? Cost Per Hire = 32% Diversity Hires = 31%
  7. 7. Question: What Metrics Doesn’t get Tracked or Measured in Your Organization? Cost Per Hire = 32% Diversity Hires = 31% Candidate Satisfaction= 44%
  8. 8. Question: What Metrics Doesn’t get Tracked or Measured in Your Organization? Cost Per Hire = 32% Diversity Hires = 31% Candidate Satisfaction= 44% Quality of Hire = 46%
  9. 9. But there is a Silver Lining…..
  10. 10. 52% plan on using an analytics solution and 39% plan on benchmarking their Metrics in the next 18 months
  11. 11. Predictive Analytics But we still have Roadblocks
  12. 12. We still lack Standardization
  13. 13. Metrics Standardization
  14. 14. Speed Quality Productivity Cost Time to Accept (TTA) First Year Quality (FYQ) Productivity Per Recruiter (PPR) Recruiting Resources Cost to Acquire (CTA) Time to Start (TTS) Offer Acceptance Rate (OA) Hires Per Recruiter (HPR) Recruiting vs Business Consideration (RvB) Submittals to Business Acceptance Percentage (SBA) Source of Hire (SoH) Source of Application (SoA) Italics = 2016+ Metrics Submittals to Hire Ratio (SHR) Candidate Interviewed Declined Reasons (CIDR) Time in Workflow Stage (TWS) Hiring manager & Candidate satisfaction Req Cancellation Rate (RCR)
  15. 15. We need to be better story tellers of the data
  16. 16. “In Tell to Win, Peter Guber masterfully demonstrates that telling purposeful stories is the best way to persuade, motivate, and convince who you want to do what you need”. PRESIDENT BILL CLINTON
  17. 17. 1. Problem we/you are trying to solve 2. Benefit we will get from solving this problem 3. How you are progressing against the plan to solve it (on track/off track) 4. The issues causing you to be off track 5. What are you doing about resolving the issues that get you back on track, and by when 5 Simple Story Telling Rules
  18. 18. Most Recruiting Metrics are still about looking in the rear view mirror
  19. 19. Predictive analytics is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends
  20. 20. 100:1 30:1 10:1 8:1 3:1 1:1 Full Funnel Throughput (FFT) Applications Recruiter Screens Hire HM Accepts Final Interviews Submittals
  21. 21. 100:1 30:1 10:1 8:1 3:1 1:1 Full Funnel Throughput (FFT) Tele-Sales Java Developers Job Families Store Mgr’s 55:1 30:1 100:1
  22. 22. 100:1 30:1 10:1 8:1 3:1 1:1 Alert 20 more Quality Candidates needed this week to fill the 5 Tele-Sales positions by end of the month Full Funnel Throughput (FFT)
  23. 23. Speed Quality Cost Req Load Predictive Metric Causality Example Better Quality impacts longer hiring times and increases cost
  24. 24. • trending reports • detailed projections • draws from historical data • automated generation • visual
  25. 25. ERE Benchmarking Metrics Solution Context  Real Data from ATS’s  Confidential & Secure Data  Online Tool  Actionable Insights
  26. 26. Filters are the key to actionable insights
  27. 27. Josh JonesGene BrownJohn Ricciardi ERE’s Benchmarking Good Guys
  28. 28. A Staffing.org CEO Survey rated new hire quality as the #1 most important performance metric out of 20 possible metrics. It was rated 9.6/10
  29. 29. Question: What Metrics Doesn’t get Tracked or Measured in Your Organization? Quality of Hire = 46% 2015 State of Talent Acquisition Survey
  30. 30. Employee’s get headhunted away…. Poor onboarding experience…. Poor employee performance…. Employee’s get reassigned…. Bad career manager…. Not a cultural fit… Boring work…. Etc..
  31. 31. Hiring Manager & Peer Surveys New Hire Performance New Hire Promotions New Hire Attrition Submittal Acceptance % from the Business Employee Pulse Surveys (New Hires) Measurements
  32. 32. Quality of Hire Metric
  33. 33. Quality of Hire (QoH) = (APR + AE + HMS + ER) / N APR = Avg. Performance Rating for new employees in first 12 months AE = Employee Performance as a % of Achieves Expectations of performance in first year. HMS = Annual Hiring Manager Survey Q:“Overall quality of New Hires” ER = % of Employee Retention first 12 months of employment. N = Number of indicators used. APR= 68% + AE= 94% + HMS= 80% + ER= 90% / N = 4 QoH = 83%
  34. 34. QoH
  35. 35. Data Compression & Perception Highest = 83% Lowest = 62% Performance Management New Hires QoH
  36. 36. Business Accountability Recruiter Accountability Biggest lesson learned?
  37. 37. Number of candidates submitted to the business that they accept as a % (Recruiter Accountability) + % of candidates employed (Retention) in their first 12 months of employment (Business Accountability) divided by these two data points. 1 2
  38. 38. 1,000 Submittals 800 Acceptances 80% First Year Retention 90% + Two Data Points (80% & 90%) = 85% First Year Quality (FYQ)
  39. 39. Q1 Q4 Top Performing Quartile Bottom Performing Quartile Your Company
  40. 40. Q1 Q4 Top Performing Quartile Bottom Performing Quartile Your Company Benchmarking Filters
  41. 41. Q1 Q4 Top Performing Quartile Bottom Performing Quartile Your Company
  42. 42. What have we learned so far about TA Metrics and Advanced Analytics? ‘Hundreds of conversations ranging from Fortune 100 to 2,000 people organizations across multiple industries’.
  43. 43. 10% 40% 50% Get it ! Not sure how, but want to learn Not Interested or Clueless
  44. 44. - Still multiple versions of the Truth - Companies all over the map with how they use ATS’s (or Don’t) - Some ATS’s are just plain useless in their functionality
  45. 45. Still challenges with how recruiters use their ATS.
  46. 46. TA leaders love metrics that help educate the business on what is not broken. Example:
  47. 47. Thanks and Questions?

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