Jobvite Webcast: Recruiting Analytics - How Do You Stack Up?

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


Where we are today


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


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


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


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


Recruiter A Recruiter B


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


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


Maturity model – the practical approach


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


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


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


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

LinkedIn

email

Twitter

Facebook

…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

Jobvite Webcast: Recruiting Analytics - How Do You Stack Up?

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Transcript of Jobvite Webcast: Recruiting Analytics - How Do You Stack Up?