Pinstripe & Ochre House Executive Vice President, Erin Lange, was featured in the November issue of HRO Today magazine. The article, Six Metrics Organizations are Using to Dive Deeper into Their Talent Acquisition Process, leads with the premise that metrics traditionally used to evaluate recruitment (e.g., time-to-fill, cost-per-hire) are no longer sufficient.
The key, the article explains, is that efficiency metrics are important to assess, but it’s also vital to evaluate effectiveness metrics such as hiring manager satisfaction and candidate quality, among others. According to Lange, leveraging the right data can differentiate good talent from the very best talent.
Excerpts from the article:
On the accuracy of job qualification:
The issue: Do you have the most accurate set of qualifications listed in the job description?
“A hiring manager wants to hire a sales person and says they want someone who has three to five years of experience, prior sales experience in the industry, and a background in sports,” Lange explains. “Big data will give me the top performers, and I can validate these candidate qualities, finding out what the top performers do versus the good ones. Perhaps we find out that two of the three qualifications are valid, but that the third is community involvement in the past three years, not sports. Big data allows us to statistically model what qualities the best hires possess.”
On candidate supply and demand:
The problem: What’s the talent pool HR is fishing in? Another way to get closer to the elusive quality of hire metric is to look at all the candidates–who was available, who was contacted, and who was brought in.
“Zip codes, skill sets, social media such as LinkedIn, top companies—you start to narrow down a list of top candidates very quickly,” says Lange. Supply and demand data allows the RPO provider to “prove effort,” Lange says. “What is the list of top people, and how many did I contact?” Candidate supply and demand can give HR confidence they’ve received the best candidates given the limits, Lange adds.
On candidate satisfaction:
The issue: The experience of applying to an organization is something candidates will likely remember, whether hired or not. A good experience—or a bad one—can spread through social media like wildfire.
“Every candidate is a potential customer,” says Lange. “So you’re recruiting process is not just about talent acquisition, but the business brand.” Most applications go into an electronic black hole after hitting submit on a company website. Establish a communication channel for all applicants. When possible, Lange recommends, “to put a human voice” behind your company.
Measuring candidate satisfaction, Lange says, should involve getting satisfaction feedback from every candidate who enters the premises. “New hires are biased,” she says. “At a minimum, [talk to] everyone who has an onsite engagement with your company. Include the ones who get hired but more importantly, those that don’t get hired.”
For access to the full article, visit: