- Posted by Holly Ratcheson
13 Example Goals to Set for Your 2015 Recruitment [Part Two]
It’s a new year and a new opportunity to prove the business value of recruitment to your team and the entire organization. This two part series is aimed at helping talent acquisition professionals set and obtain vital recruitment goals. If you missed it, start with part one and come back for more…
- Rate Source of Hires
If you haven’t already been monitoring the performance of your hiring sources, you should start, yesterday. Recruitment experts suggest the goal is to be able to prove at least 80% of your hires in vital positions came from sources that have recently produced the highest performing talent, highest tenure rates and diversity. Why waste resources on poor performing sources of hire? Make it a goal to track and measure performance regularly. Then be brutal about slashing poor performing channels and reallocate that spend elsewhere.
- Reduce Time to Hire
Recruiters are aware that as the time to hire lengthens, the more costly the recruitment process becomes, the lower your candidate satisfaction will drop and the more frustrating for everyone involved the process gets. The average time-to-hire rate is currently at a 13-year high at 25 business days, we think you can do better than that. Some companies are condensing their interview rounds, using video screening or implementing an ATS with an intelligent, automated rating system. Make it a point to cut that rate by 1-2 days per month, every month.
- Decrease Your Quality Candidate Dropout Rate
Do you know how many quality candidates dropped out of your recruitment process last year? Do you know why they dropped out? These are a couple of metrics that are vital to the recruitment improvement process. Did you know that 40% of mobile job seekers will drop out of an application process if they are not able to complete the application on their mobile device? Not everyone is set up to go mobile just yet, but it is still important to find out what you can do to reduce quality candidate dropout, and then do it! Start by surveying your former candidates who will help you understand why those who deserted, did so. It could be anything from better compensation elsewhere to a poor applicant experience or inadequate communication.
- Create a Schedule for Reporting Metrics
Hold recruiting accountable by reporting vital recruitment metrics on a regular schedule. This way, your team isn’t able to report great numbers when they arise, they are held accountable in a transparent way. Meet separately with executives, hiring managers and your recruitment team to decide what metrics are vital to each of those groups, and then schedule a regular meeting to assess the state of recruiting relevant to that group. Pick a date and make it Metrics day! Have each accountable person be responsible for locating the right numbers and bring them to the table for discussion. Once a month is ideal, once a quarter MAY be more realistic.
- Measure Your Quality Candidate Standing
Find out how many candidates you are currently supplying your hiring manager with that meet and/or exceed skill and experience expectations. You might be pleasantly surprised, but if you’re not, you need to find out what percentage your quality candidate procurement rate is at, and set a new, realistic percentage to hit by next quarter. A survey revealed 75% of hiring managers reported that at least 95% of their hires “met or exceeded” their performance expectations. That’s not bad, but the question is, where do you stand?
- Reduce Compliance Complaint Reports
If you’re like many of the organizations we’ve helped, you probably don’t already have a ceiling number of employee and candidate compliance complaint reports. You should! This particular recruitment goal is one that can save a lot in employment practice and employee-related risk litigation. This is a “stay below this number, or else!” goal that is crucial to protecting the employer brand of the organization. For help effortlessly keeping your recruiting team compliant during the interview process (known as the recruitment compliance minefield), check out our Skillsify Interview Skill Guide Builder.
- Prove Employer Brand Strength
This one is a little tougher because it’s nearly impossible to objectively measure the strength of your employer brand. That being said, shoot for the stars with this one. Find out what the “Best Places to Work” in your community are doing to gain that status and work toward obtaining it. If you don’t snag an award, you’ve still made moves to enforce a positive employer brand, and that won’t go unnoticed. Two no brainers? Go through your own application process with a fake name and resume (bonus points for doing some light diversity checking here!) and see how it works. Another idea? Survey employees who went through your process more than 6-8 months ago (these employees are not so new that they’ll be dishonest).
Setting these goals can feel like an uphill battle because the outcome isn’t completely in the hands of recruitment. There are a lot of factors that go into the success of hitting any department goals, and that’s the point. Recruitment has to take on the responsibility of setting, tracking and hitting goals, regardless of the intrinsic lack of complete control over business outcomes. Empower recruiting with any combination of these 13 goals in 2015.