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CUNA Mutual Group Proprietary
Reproduction, Adaptation or Distribution Prohibited
© 2014 CUNA Mutual Group, All Rights Res...
2
Overview
•3 Types of Metrics
•Proposed metrics for recruiting
•Dashboard view
3
3 Types of Metrics
Historical
(Past data; cumulative
yearly data) Real-Time
(Constantly update;
current business state )...
4
Need Date (Real-time)
•Need Date= % of hires completed by need specified need
date (within 2 days)
Measures how often a ...
5
Need Date (VS) Fill Date
Requisition FilledRequisition Opened
40 Days
Need Date
3 Days
47 Days
Off Target
90 Day Hire
Ne...
6
Need Date
•Business Impact
–Allows us to evaluate individual recruiters.
–Allows recruiters to prioritize instead of jus...
7
Need Date Challenge
•Hiring Managers will…
– Need to be proactive in planning...
•Know when they will need new hires
•Kn...
8
Recruiting Cost Ratio (Historical)
Measures hiring efficiency.
Cost per
Hire (CPH)
• How much did the
hire cost
• Hiring...
9
Recruiting Cost Ratio
100 - 8.6 = 91.4%100 - 8.8 = 91.2%
10
Recruiting Cost Ratio
•Business Impact
–Allows Talent Acquisition a clearer view into recruiter
performance.
–Allows re...
11
Source Yield Ratio
Measures the quality/industriousness of any particular source.
Source
Channel
• Where are our
applic...
12
Source Yield Ratio
•Business Impact
–Insight into which sources are the most industrious.
–Allows us to see which sourc...
13
Source Yield Ratio Challenge
•How do we accurately obtain source information?
– Ask the applicants…
•No context when we...
14
Quality of Hire
•How to measure Quality of Hire at CMFG
– Surveys that are based off of Core Competencies.
1. Customer ...
15
Day 1 and Day 90 Surveys
Day 1 Survey
Measures? Interview Process
Who takes it? New Hire, Hiring Manager & Recruiter
Wh...
16
Day 1 and Day 90 Surveys
Day 90 Survey
Measures? Quality of Hire
Who takes it? New Hire & Hiring Manager
What does it a...
17
New Hire Turnover
Day 90 Survey
Measures? Quality of Hire & Turnover Intention
Who takes it? New Hire & Hiring Manager
...
18
Dashboard View
73%
16%
11%
Quality of Hire
Quality
Hires
Acceptable
Hires
Poor Hires
0%
10%
20%
30%
40%
50%
60%
70%
80%...
19
Appendix
•Gain further insight into Talent Acquisition through combining metrics.
• Quality of Hire & Source Yield
– Pr...
20
21
Sources
• Earle, D. (2011). Recruiting analytics: 5 ways to benchmark success. Staffing.org. Accessed June 20, 2015 fro...
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Recruiting Metrics Presentation

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Recruiting Metrics Presentation

  1. 1. CUNA Mutual Group Proprietary Reproduction, Adaptation or Distribution Prohibited © 2014 CUNA Mutual Group, All Rights Reserved. Recruiting Metrics: Best Practices Edition By Rachel Webb
  2. 2. 2 Overview •3 Types of Metrics •Proposed metrics for recruiting •Dashboard view
  3. 3. 3 3 Types of Metrics Historical (Past data; cumulative yearly data) Real-Time (Constantly update; current business state ) Predictive (Predicts future metrics; future-focused) Metrics
  4. 4. 4 Need Date (Real-time) •Need Date= % of hires completed by need specified need date (within 2 days) Measures how often a recruiter produces a hire on time. Need Date • How long the requisition was open for • If the position filled on time • If the position was not filled on time, how far past the time was the hire Fill Date • How long the requisition was open for
  5. 5. 5 Need Date (VS) Fill Date Requisition FilledRequisition Opened 40 Days Need Date 3 Days 47 Days Off Target 90 Day Hire Need Date Fill Date
  6. 6. 6 Need Date •Business Impact –Allows us to evaluate individual recruiters. –Allows recruiters to prioritize instead of just hiring all requisitions as fast as possible. –Allows hiring managers to control when they receive hires. –Promotes hiring based on business needs.
  7. 7. 7 Need Date Challenge •Hiring Managers will… – Need to be proactive in planning... •Know when they will need new hires •Know When they will be ready for new hires –Have to be reasonable for need dates •Encouraging Reasonable Need dates – Percentage or max. of short time frame hires – Limit early need dates to hiring managers in high priority business areas
  8. 8. 8 Recruiting Cost Ratio (Historical) Measures hiring efficiency. Cost per Hire (CPH) • How much did the hire cost • Hiring performance based on ease of hire Recruiting Cost Ratio • How much did the hire cost relative to the position level • Hiring performance based on a fair scale RCR= 100 - [ ]
  9. 9. 9 Recruiting Cost Ratio 100 - 8.6 = 91.4%100 - 8.8 = 91.2%
  10. 10. 10 Recruiting Cost Ratio •Business Impact –Allows Talent Acquisition a clearer view into recruiter performance. –Allows recruiters to take on challenging hires and still show improvement. –Allows the company to compare total cost of hire against how many high-level requisitions were filled in the past year.
  11. 11. 11 Source Yield Ratio Measures the quality/industriousness of any particular source. Source Channel • Where are our applicants coming from Source Yield Ratio • Where are our applicants coming from • How many actual hires are coming from a source compared to how many applicants we receive
  12. 12. 12 Source Yield Ratio •Business Impact –Insight into which sources are the most industrious. –Allows us to see which sources offer not only the most quality applicants, but quality applicants we are, then, able to attract and hire. –Brings understanding about where to place our recruiting resources for specific job categories.
  13. 13. 13 Source Yield Ratio Challenge •How do we accurately obtain source information? – Ask the applicants… •No context when we ask applicants about their source •We present the ask as optional and unimportant – Possible Fix: •State the importance of the accuracy of source information to the applicant •State generally why we need the information •Ask the questions precisely – Source Information: » We want to know where you heard about us. It is important for our sourcing metrics that you indicate which source you used to learn about us and ultimately apply. Please answer the following as accurately as possible. 1. Where did you first hear about CUNA Mutual Group? 2. Did you use any other sources to do more research about CUNA Mutual Group? 3. Which source were you using when you finally decided to apply?
  14. 14. 14 Quality of Hire •How to measure Quality of Hire at CMFG – Surveys that are based off of Core Competencies. 1. Customer Focused 2. Ensures Accountability 3. Nimble Learning 4. Optimizes Work Processes 5. Self-Development – Current Problem: One survey that attempts to measure different things. – Solution: 2 Surveys • Ask new hire • Ask hiring manager • Ask Recruiter
  15. 15. 15 Day 1 and Day 90 Surveys Day 1 Survey Measures? Interview Process Who takes it? New Hire, Hiring Manager & Recruiter What does it ask? New Hire: -How was the hiring experience? -How was the interview experience? Hiring Manager: -How was your experience working with TA? -Which recruiter did you work with? -Were your business needs met? Recruiter: - How was your experience working with hiring manager X? - Did he/she provide you with the proper information about the open req?
  16. 16. 16 Day 1 and Day 90 Surveys Day 90 Survey Measures? Quality of Hire Who takes it? New Hire & Hiring Manager What does it ask? New Hire: -Do you feel that your job suits you? -Do you feel that CUNA Mutual is a good culture fit for you? -Do you feel like your manager is a good fit? Hiring Manager: -Does the new hire possess the technical skills the position requires? -Does the new hire fit in with the culture of CUNA Mutual? -Does the new hire work well with others? Recruiter: -Receives feedback about quality of hire
  17. 17. 17 New Hire Turnover Day 90 Survey Measures? Quality of Hire & Turnover Intention Who takes it? New Hire & Hiring Manager What does it ask? New Hire: -Do you feel that your job suits you? -Do you feel that CUNA Mutual is a good culture fit for you? -Do you feel like your manager is a good fit? -Are you likely to stay at CUNA Mutual? Hiring Manager: -Does the new hire possess the technical skills the position requires? -Does the new hire fit in with the culture of CUNA Mutual? -Does the new hire work well with others? Recruiter: -Receives feedback about quality of hire
  18. 18. 18 Dashboard View 73% 16% 11% Quality of Hire Quality Hires Acceptable Hires Poor Hires 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Recruiting Efficiency 0 20 40 60 80 100 120 Trustage Finance Sales HR MEMBERS Time to Fill Average Days before Need Date Average Days after Need Date 0 50 100 150 200 250 300 Source Yield # of Hires # of Candidates 0 20 40 60 80 100 2012 2013 2014 2015 New Hire Turnover 90 Days 1 Year
  19. 19. 19 Appendix •Gain further insight into Talent Acquisition through combining metrics. • Quality of Hire & Source Yield – Predict where quality hires are coming from. •Quality of Hire & New Hire Turnover – Predict if CUNA Mutual is retaining top talent. •Need Date & Source Yield – Which sources do ‘on time’ recruiters recruit from? Is there a trend here?
  20. 20. 20
  21. 21. 21 Sources • Earle, D. (2011). Recruiting analytics: 5 ways to benchmark success. Staffing.org. Accessed June 20, 2015 from http://www.staffing.org/documents/recruitingintelligence.pdf • Sullivan, J. (2003). Change your recruiting metric from time to fill to need date. ERE Media. Accessed June 24, 2015 from http://www.eremedia.com/ere/change-your-recruiting-metric-from-time-to-fill-to-need-date/ • Corporate Leadership Council and CLC Solutions. (2005). Strategic turnover tracking and analysis. Catalog No: CLC12O4FDY. Accessed July 1, 2015 from file:///C:/Users/rwr2682/Documents/Strategic%20Turnover%20Tracking%20&%20Analysis.pdf • Martin, J. (2014). Top 10 talent trends that HR pros really need to know. ERE Media. Accessed June 24, 2015 from http://www.eremedia.com/tlnt/top-10-talent-trends-that-hr-pros-really-need-to-know/ • Sullivan, J. (2013). High-impact strategic recruiting metrics for WOWing executives. ERE Media. Accessed July 15, 2015 from http://www.eremedia.com/ere/high-impact-strategic-recruiting-metrics-for-wowing-executives/ • Jacobson, D. (2013). 16 HR metrics smart HR departments track. GloboforceBlog. Accessed May 15, 2015 from http://www.globoforce.com/gfblog/2013/16-hr-metrics-to-track/ • Lowisz, S. (2010). Quality of hire: The top recruiting metric. ERE Media. Accessed May 15, 2015 from http://www.ere.net/2010/06/30/quality-of-hire-the-top-recruiting-metric/

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