Four For Friday: Talent Acquisition and HR Metrics To Improve Your Strategy
The use of metrics and analytics in talent acquisition has been trending upward for some time. What was once frowned upon (and even feared by many) has slowly become a necessity for modern recruiting teams. But there are still plenty of questions that remain for HR and talent acquisition professionals.
Perhaps the most common question revolves around WHAT to actually measure. There seems to be an infinite number of metrics that recruiting teams can track, but which ones yours should use depend on a variety of factors. This week’s Four For Friday provides some talent acquisition and HR metrics your team could consider tracking over time.
One of the best and most efficient ways to improve your recruiting strategy is to track and measure metrics. Yet many teams don’t do this and/or aren’t even sure where to begin. This post on the Devex blog provides the following 6 metrics that your team should know about:
- Organizational and Brand Attractiveness
- Organization and Brand Reputation
- Internal Mobility
- Recruiting Net Promoter Score (NPS)
- Regrettable Turnover
- Workforce Planning
Check out this blog post to learn more about each metric.
“Unfortunately, most of those who create metrics in HR and recruiting don’t really understand the strategic mindset of CEOs. And, as a result, the metrics that are reported to CEOs and the executive committee result in no positive action being taken,” says Dr. John Sullivan. In order to get your CEO’s attention, Dr. Sullivan provides a list of 10 HR metrics your team must track. These include:
- Performance Turnover In Key Jobs
- Dollars Of Revenue Lost Due To Position Vacancy Days
- Percentage of HR Strategic Goals That Were Met
- New Hire Fail Rate
- Applications Per Employee
To learn more about these metrics and more, read Dr. Sullivan’s article on the ERE blog.
HR Directors Spend a Month Recruiting for Open Positions (Undercover Recruiter)
“HR directors are spending a month (let’s call it February at 27.59 days) on average recruiting for open positions within their organization, which can result in them losing out on talented candidates who accept jobs from other companies who are able to make hiring decisions more quickly,” according to research from Robert Half UK. This post on the Undercover Recruiter blog goes in depth into the report and takes a look at even more interesting numbers about hiring and recruiting.
Surviving the Big Data HR Test (All Analytics)
Big data is taking the business world by storm, and even HR is no exception. This surprises James M. Connolly, Editor of All Analytics. “I was shocked to read about the position HR leaders are taking when it comes to big data and personnel decisions. Let’s face it, in using big data to hire people or even support decisions on promotions, there are privacy considerations and even legal worries that can come up. But by golly, those HR pros are for it, warts and all.” Check out James’ post on the All Analytics blog to learn more!
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