Recruiting

Onboarding & Retention

Managing Talent

Performance Management

Developing Leadership

Employer Branding

Enhancing Employee Engagement RG PM TIRG: Revenue Growth; PM: Profit Margin; TI: Total Improvement

High Impact Strategic Recruiting Metrics

Studies reveal that 65% of the timethe hiring process is the deciding factor whether we onboarded an average hire or a great hire.

To get a good talent in place organizations make blue prints of apt hiring metrics However, hiring metrics are many Which are the ones that matter to establish a good hire versus a bad hire?

FH

inancial impact of hiring a topperformer is 10 - 100x the persons compensation

Finding & Hiring Quality Talent has never been more critical Competition, Economic Uncertainity, and High Costs mean that you’ve got to make sure you recruit the right people for business success

iring a single top performer has the potential for adding $ 1 M to $ 10 M to a company’s revenue each & every year that the new hire stays with the firm

Cost to Hire

Time to Fill

Hiring - Manager SatisfactionTurnover Rate

Acceptance Ratio

Sourcing Channel Mix

Candidate Experience Quality of Hire

Reqs/Recruiter Time to Fill

No of Hires/Period Cost of Hire

Functional Time-to-FillInternal Placement Percentage

You can’t pick your data but you must pick your recruiting metrics

Metrics are proxies for what ultimately matters & some metrics are more equal than others.They should provide theability to slice data in new ways to quantify bottom-line impact

The recruiting function becomes its metrics

Metrics are what you measureAnd what you measure is what you manage toBeware of the Vanity MetricsThey are like dandelions - maylook pretty, but like weeds- use up key resources and add no value

Metrics are only valuable if you can manage to them

Knowing the difference between your Data and your Metrics

Research conducted by Boston Consulting Group demonstratedthat recruiting has the highest business impact on profit of any talent management function

Top Recruiting Metricsfrom a study by the Newman Group & ERE

Offer -to-Accept ratio

Interview-to-Offer ratio

Decline-to-Offer ratio Diversity

Time-to-Fill by exempt/non-exempt reqs

70%69%60%57%47%47%45%

44%35%

33%29%

Real-Time Metrics

Predictive Metrics

Labor Costs

Sourcing ROI

New Hire Failure Rate

Talent Opportunity Forecast

Level ofCandidateAvailability

RecruiterCompetition

Unemployment Rate

Quality of Hire

Referral Hires

Cost of Vacancy % of Hard to Fill Roles

Target Firm HiresOffer Acceptance rate

% Hires byNeed Date

Turnover of New Hires

Historical Metrics

Top Benchmark Firms with Best-in-Class Metrics Driven Recruitment Practice

Hiring Manager Satisfaction

Employer Brand Strength Time to Hire

Recruiters Cost Ratio

Performance Impact of New Hire

Diversity Hiresin Leadership roles

3.5x 2.0x 5.5x

2.5x 1.9x 4.4x

2.2x 2.1x 4.3x

2.4x 1.8x 4.2x

2.1x 2.0x 4.1x

2.1x 1.8x 3.9x

1.8x 1.6x 3.4x

Recruiting Metrics That Matter

A Good Recruiting Metric Should be Capable of

1

2

3

4

5

6

7

Telling a Story

Selling Initiatives, Supporting funding requests

Confirming or Debunking Assumptions

Benchmarking Performance & Results

Establishing Expectations

Determining ROI

Data Driven Decision Making

Analyzing the data is the easy partThe hard part is deciding what datamatters. Apt metrics can drive specificrecruiting behaviours & measure accurate results with a quantifiable performance impactRight metrics can enable a focus on the causes and not the symptoms of recruitment success

Source/Credits AuthorPradeep Sahay

www.ere.net- Dr John Sullivanblogs.hbr.org - Know the difference between Data & Metricswww.dullesshrm.org - Recruiting MetricsJoemanjiArts/Shutterstock

The matrix of metrics that is best suited for any organizationdepends on a range of aspects involving its business goals. Whilea one size fits all approach is ill advised, the set of strategicand tactical metrics exhibited below provide a good construct for forward looking organizations to quantify the financial impact of their hires