We talk a lot about candidate experience and, of course, Survale’s corner of that world is feedback. But without easily accessible recruiting analytics to put that feedback into context and visualize areas for optimization, the value is greatly diminished.
As I’ve written before, candidate satisfaction is more about recruitment operations than anything else. To expand on that notion, here are four recruiting analytics that can transform your ability to hire.
Recruiting Analytics: One – Quality of Hire by Source
We’re all getting continuously updated quality of hire data in real time, right? If not, there’s an easy fix for that. The value of getting continuous, experiential and transactional quality of hire data is that you can use it for the long term (mapping QOH to other metrics, like source of hire or customer satisfaction), but you can also identify specific short-term issues while there is still time to intervene and make an immediate improvement in a specific situation.
If you find a certain division is seeing more low quality hires, you can dig in and correct processes or behaviors that can immediately impact the fallout from poor QOH, like retention or performance issues (as opposed to waiting a year to do an annual analysis).
Monitoring quality of hire by source of hire is a recruiting analytic that can result in huge savings for your organization. Sure, a specific source might be an effective pool to hire from, but if the quality of those hires is well below other sources, you can avoid spending too much on a source that otherwise may seem like a winner.
This kind of data driven budget optimization goes a long way toward showing leadership that their recruiting organization is focused on two bottom line questions: Are we hiring the best people and can we get more like them by focusing our budget where we get the best return. Answer affirmative to those questions, with data to back it up, and leadership will go out of their way to fund key projects in the future.
Recruiting Analytics Two – Interview Satisfaction by Division
Do you know what’s happening within those interviews? Are hiring managers properly representing the employer brand and culture? Are candidates leaving interviews excited and challenged by a great new opportunity?
Recruiting analytics like Interview Satisfaction by Region shine a light on perhaps the second most important piece of the hiring puzzle: Interview performance. I am highlighting Interview Satisfaction by Division because it’s the first stop on a recruiting analytics journey that leads straight to improved hiring performance. The next stop is clicking into an underperforming division to its individual hiring managers to uncover training opportunities. Depending on the number of hiring managers in your recruiting process, jumping into individual hiring manager interview satisfaction metrics as a whole, can be an overload.
But Interview Satisfaction is where candidates tell you exactly what is going right and wrong with those all important interviews. Survale clients see regular feedback like:
“Hiring manager never showed up.”
“Interviewer was preoccupied…”
“She said she will get in touch the following day but have not received anything further.”
Survale client, Tony Suzda from Dent Wizard summed up the dangers of not understanding interview performance by division in a recent case study:
“Every candidate that applies to Dent Wizard knows at least five colleagues who would also apply. Bad [interview] experience can absolutely destroy our ability to recruit in any given region.”
Three – Hiring Manager Satisfaction with Talent Acquisition
While we’re on the subject of recruiter/hiring manager alignment, your hiring managers are sitting on a wealth of information about their recruiting partners’ performance. Is the recruiter understanding the requirements of the position? Are they forwarding properly screened candidates? Are offers effective enough to land a top choice candidate?
Implementing a constant stream of feedback and key metrics for Hiring Manager Satisfaction with Talent Acquisition ensures proper alignment of expectations and processes across these two key hiring constituents. And it makes managing and optimizing hiring performance a consistent focus.
Four- Candidate NetPromoter Score by Division
NetPromoter Score© (NPS) is a measurement of satisfaction using a proprietary calculation designed to identify true fans, whether it’s for candidates, customers or any other internal or external transaction. It’s the answer to the question: “How likely are you to refer someone to apply for a job here?”
The higher the number of true fans (the only ones with the power and inclination to influence your effectiveness), the more successful all your hiring efforts will be.
Once you’ve started tracking candidate NPS globally, it’s time to begin to segment this metric by division. Now you can start to look at your hiring capability by individual groups within the organization. Again, isolate divisions where NPS is particularly low or high and then drill into the feedback (hiring manager, candidate, recruiter, etc) to find what’s driving those high and low scores. Put together programs and procedures to formalize the building blocks of positive experiences and reduce the instance of negative experiences.
Satisfaction is great. Good candidate experiences provide loads of soft benefits like increased referrals, higher offer acceptance, higher brand affinity, and the like. But the key to understanding the value of satisfied candidates, recruiters and hiring managers is that the feedback you gather enables you to optimize recruiting strategies and recruiting operations to hire more effectively. These four recruiting analytics can help you do just that.