Post on 01-Nov-2014
description
D A V I D E A R L E , C E O
S T A F F I N G . O R G
Recruiting AnalyticsHow Do You Stack Up?
STAFFING.ORG © 2011
Agenda
Where we are today
Where we want to go
Metrics maturity model
Why we haven’t gotten there yet
What’s holding us back
Why we can now
Technology, management thinking
Why you should care
The 21st century recruiting model needs
leaders
STAFFING.ORG © 2011
Where we are today
STAFFING.ORG © 2011
What’s worrying you
0 0.5 1 1.5 2 2.5 3
Environmental / Green issues
Globalization
Mergers and consolidations
Government regulation
Internal technology
The Aging Workforce
External technology (Internet)
Recruiting / staffing costs
Economic slowdown
Labor market conditions
Candidate quality
Competition for talent
Impact of External Conditions of Recruiting
STAFFING.ORG © 2011
Levels 1 & 2 Levels 3 & 4
Efficiency
Company keeps credible records of TTF, CPH and performs near industry norms
Effectiveness
Company can track candidate quality, job performance and retention (1st year)
Marketing Company can track
candidate sources, behavior, brand awareness and funnel ratios
Retention Company tracks employee
satisfaction, engagement, retention (all years) and hiring demand (1+ years)
Where we want to go
STAFFING.ORG © 2011
Level 5
The company uses scenario planning and predictive analytics to project talent demand into the future.
Labor market analysis
Demographics by job category & skill level
Succession planning
Talent movement
Training & development
―What if‖ modeling
Everything tied to the company’s strategic plan
STAFFING.ORG © 2011
Early Stages
What world class companies measure
How many more things do you need to measure?
Time
Time to source
Time to process & select
Time to interview & assess
Time to offer
Time to hire
Time to start
Cost
Cost per hire (CPH)
Recruiting cost ratio
Recruiting efficiency ratio
Sourcing Analysis
(by source)
Number of submits
Number of submits by source
Cost per lead
Ratio submits to hires
Number of hires
Cost per hire
Diversity contribution
Pipeline
Quality
Ratio: total resumes / candidates
Ratio: candidates / interviews
Ratio: interviews / offers
Ratio: offers / close
Candidate Quality
Resume vs. job requirements
Pre-hire job performance (desired) vs. actual
job performance (3 months, 6 months)
Satisfaction
Hiring manager: (a) job performance (b) fit
Candidate: after onboarding, 3 months, 6
months; first year turnover
ROI
Lower CPH or recruiting cost ratio
Savings from reduced time to start
Contingent staff savings
Reduced vacancy cost
STAFFING.ORG © 2011
Recruiter A Recruiter B
STAFFING.ORG © 2011
15 engineers, $750,000
salaries, $66k costs
CPH $66k/15=$4,400
RCR $66k/$750k=8.8%
7 senior mgrs, $980k
salaries, $84k costs
CPH $84k/7=$12,000
RCR $84k/$980k=8.6%
RCR vs. CPH
Measuring the right things
STAFFING.ORG © 2011
Will everyone understand what they mean?
Did everyone sign off on them (dialogue)
Does everyone agree they’re important?
Do they relate to corporate and staffing objectives?
Can they be compiled consistently and accurately?
NOTE: Credibility = measuring a few things well, not many
things badly
Not how world class companies measure
0% 5% 10% 15% 20%
None
Recruit Funnel Ratio
Time to Source
Offer/Close Ratio
Interview/Offer Ratio
Quality of Hire
Candidate Satisfaction
Cost Per Hire
Manager Satisfaction
First-Year Turnover
Time to Fill/Start
Most Frequently Measured Metrics
STAFFING.ORG © 2011
Maturity model – the practical approach
STAFFING.ORG © 2011
First— time to start, CPH/RCR, resume/job requirements, hiring mgr. satisfaction
Second— funnel ratios, CPH/RCR by job level, 3 & 6 month HM satisfaction & retention
Third— sourcing analysis, employer branding, candidate experience
Fourth – begin monitoring the attitudes and behavior of the workforce
Fifth — begin strategic planning
20th century model 21st century model
Industrial model
Efficiency
No metrics
Old school mgt training
Local labor markets
U.S. top competitor
Human capital model
Value
Metrics centered
New school mgt training
Global labor markets
Lots of new competitors
Why we haven’t gotten there yet
STAFFING.ORG © 2011
Why we can now
Trends have created the conditions
We have the research.
Management thinking has evolved
Technology has (finally) evolved sufficiently to do
the heavy lifting—i.e. data management & reporting
STAFFING.ORG © 2011
A quick note about technology
It’s a big, complex topic
It’s now central to all TA and TM
It has been frustrating forever, but it’s getting better very rapidly
It needs HR ownership, not HR ―usership‖
You don’t have to become a geek, just an educated user. Know what it can do and what you want it to do
The aim isn’t complexity, it’s simplicity
The best metrics are simple and relevant
STAFFING.ORG © 2011
Recruiting Intelligence
Using Jobvite for real-time insights into what works
The Recruiting Platform for the
Social Web
social sourcing and CRM applicant tracking and recruiting
It’s Harder Than Ever to Tell What Works
Data integrity hampers cost and quality effective recruiting
5 out of 6 candidates
incorrectly identified
source in a study of
60,000 applications
Insights to Drive Quality, Cost and Speed
Source performance throughout the pipeline
for all candidate sources
Social recruiting performance
Career site benchmarking
Standard and custom reporting – with drag
and drop interface
Start With Tracking that Works
Automatically
trackable
links embedded everywhere jobs
are shared online,
automatically
…Wherever You Are Recruiting
Key Metrics for Branding and Conversion
Traffic
Referring Sites
Views
Forwards
Applications
Interviews
Hires
by job
by source
by network
by
category
by location
Real-time Dashboards
“The tracking, reports, dashboards and
complete transparency of all our recruiting
efforts and processes have been a huge time
and money saver.”
Kerry Ann MacIsaac
Director of Human Resources, Conductor
twitter.com/jobvite
facebook.com/jobvite
linkedin.com/company/jobvite
www.jobvite.com