How to take baseline recruiting metrics and apply a cost savings or revenue view

1. Rewire Your Brain to Present
Talent Acquisition Metrics
Differently
Associated ERE Media Article Here

2. Rewire Your
Brain To
Recognize
The
$$$$ Stories

3. Business Executive:
“It costs too much money to hire people !

4. Business Executive:
“It costs too much money to hire people !
Talent Acquisition Executive:
“Compared to what?

5. Back of the napkin math stories
Example: Hiring Time and Investment
1. We hire 5,000 people a year.
2. At an average of 5:1 (Candidates interviewed to produce one
hire).
3. We have 5 different business interviewers involved on average
for each candidate going through the interview process.
4. Each business interview on average lasts 60 minutes (early
screens a little less, later interviews potentially more), but lets
be conservative and call it 30 minutes on average.
5. The average fully loaded hourly rate for a business interviewer
is $70, but even being conservative here as well, lets say 30
minute interviews. So that's $35 per hour.
6. 1 candidate gets 5 business interviews x 5 candidates per req =
25 interviews per req.

6. 5,000 hires (reqs) x 25 interviews on average per req = 125,000
interviews a year.
125,000 x $35 per hour = $4,375,000 in time spent interviewing.
If we (Recruiting and Business) could improve our throughput ratio
down to 4:1 then the financial impact is a $875,000 less.
If we (Business and HR) could create a more effective interviewing
and assessment framework which required 1 less business
interviewer on average, then that is an additional $700,000 in
savings as well.
If we could give the business back 22 thousand interview hours
going forward, what would you do with them?