Welcome to Last Week in Talent,
Last week the jobless rate hit a 10 year low while hiring and wages grew. In possibly related news, USA Today reported that job-hopping is on the rise: “63% of workers are open to making a switch, according to a separate national survey of 2,156 employees that ADP conducted. Seventeen percent are looking while 46% are receptive to an overture from a recruiter.”
Kyle Lagunas, talent acquisition research manager at IDC, pointed out that no recruiter is going to claim recruitment metrics aren't important.
They will, however, confess to a serious lack of tracking the numbers that speak to the talent team's true value. Lagunas recently did research on the general attitudes and practices around recruitment metrics coverage by talent acquisition teams – in short, an area that's more so preached than practiced.
Lagunas and the Hiring On All Cylinders team dug into the details, live from the Greenhouse Open floor.
Indulge me in my assumption that you've spent a not inconsiderable amount of time trawling the blogosphere for advice on recruiting metrics. Which ones are the most important, how to calculate them, and how to present them in such a way that illustrates your team's performance to the higher-ups. Let's face it, you're not getting any budget for team hires or sexy powerful recruiting tools unless you can bring some data to the table telling the story of your conquests. And while recruiting metrics are a great way to execute some internal PR and demonstrate your worth, I will implore you to think bigger about the utility of recruiting metrics. The information you're crunching as part of your hiring process can be a telling barometer of health at your company, and if you endeavor to make higher reaching impacts on your organization, you need to firmly place a finger on their pulse.
When a company finds itself immersed in the throes of preparing for an initial public offering, they will suddenly face a slew of unique challenges experienced only by companies at this particular stage. Typically at this time, companies are forced to bring in several specific senior level hires to help them navigate the treacherous waters of going public. Who does this immense task fall to? Why, the humble recruiting team of course!
Building an effective recruitment strategy takes hiring managers with formidable experiential knowledge and ingenious foresight. It’s not a paradox to say that you need to learn how to recruit top hiring managers and recruiters. Long-term, the main goal is to create a collaborative recruitment team that’s communicative and open to revising hiring strategies when needed (no one should fear the evolution of their process regardless of how rigid their industry is, or how deeply rooted in the past their credos may be).
So let’s assume that you already have an all-star recruiting team that’s social and synergetic. They’ve done an excellent job of imagining and circumscribing hiring strategies for your company, and they’re ready to build a superb workforce. Before you get too excited, take a step back and think about the leveled perspectives you want to gain regarding their performance.
Here are a couple shrewd questions you want to ask:
