Four For Friday: Understanding Recruiting Performance and Metrics
How does your talent acquisition department measure recruiting performance? This question has been raised frequently over the last 12 to 18 months, with the answer varying from organization to organization. But one thing that is known is it’s really hard to measure performance without first tracking recruiting metrics.
While each team tracks and measures recruiting metrics differently, the key to a successful strategy is first having a general understanding of how performance and metrics are tied together. The articles in this week’s Four For Friday explore this and more.
6 Recruiting Metrics You Should Be Tracking (Recruiting Headlines)
Recruiting in 2016 is no easy task. Yet the demands placed on recruiters is greater than ever. But by tracking and measuring certain metrics, you can make your recruiting strategy easier and better. This post on the Recruiting Headlines blog provides the following 6 metrics that you should start measuring:
- Where Your Candidates Come From
- How Long It Takes To Hire
- How Many Offers Are Accepted
- How Much You Spend
- Candidate Gender Diversity
- How Long They Stay
Check out this post to learn more about how each metric can help your team!
The growing importance of workforce analytics is something that many companies are starting to take note of. These analytics can help companies gain a critical competitive advantage over their competitors, but hiring the people with the right data skills is proving to be a big challenge. Why is this the case?
“For one, this area of expertise wasn’t prevalent or even valued in HR until relatively recently, so true analytics experts in the HR discipline are few and far between. And second, such experts are often poached by other areas of the business,” says Tom Starner, contributing editor and writer for Human Resource Executive. His article on the HR Dive blog digs further into this problem and how HR can overcome it.
Rob McIntosh, Chief Analyst for ERE Media, says that most recruiting metrics do not measure what is really important for talent acquisition. “I am going to try and do my best to cut through the noise of top 10 lists to get to what we really should be focusing on: Determining the difference between average vs. great recruiting performance and outcomes,” he says. Check out Rob’s post on the ERE blog to see how he approaches this important recruiting topic.
Understanding the Lag and Lead Metrics of Recruiting (Recruiting Blogs)
“Strategic recruiting is much more like sales than traditional recruiting. Correspondingly, how recruiting results are best analyzed is similar to how sales and marketing metrics are analyzed. Recruiting metrics can be broken down into two broad categories: lag and lead metrics,” says Steven Duque, VP of Marketing and Product at Happie. Check out his post on Recruiting Blogs to learn more about lag and lead metrics.
Interested in recruiting analytics and the future of big data strategies in talent acquisition? Sign up for the Data Driven Recruiter blog.