The Numbers Game: How to Use Data to Land Top Talent
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The document outlines a webinar on utilizing talent analytics to improve recruitment processes, featuring tips from industry leaders Kirsten Davidson and Lauren Ryan. It emphasizes the importance of key performance indicators (KPIs) like candidate experience, time to hire, and offer acceptance rates in making data-driven hiring decisions. The agenda includes practical applications of these metrics for workforce planning and enhancing employer branding to attract top talent.
The Numbers Game: How to Use Data to Land Top Talent
- 1. The Numbers Game: How to Use Data to Land Top Talent!
- 2. • You can connect to audio using your computer’s microphone and speakers. • Or, you may select “Use Telephone” a=er joining the Webinar. • All lines will be muted to avoid background noise. • You can ask quesEons at any Eme by typing them into the QuesEons Pane. Webinar Tips for Attendees
- 3. Speaker Highlights ! Kirsten Davidson! Lauren Ryan ! Head of Employer Brand, Glassdoor Director of Talent Acquisition, Greenhouse
- 4. Hi! I’m Kirsten! • Head of Employer Brand at Glassdoor • Former employer brand leader at Visa and eBay Inc. • Expert in building and sustaining vibrant and inspired workforces linkedin.com/in/kzdavidson
- 5. Talk Data to Me! • Did you know the average U.S. employer spends about $4,000 and 52 days to hire a new worker? (Bersin by Deloitte, Talent Acquisition Factbook, 2015)
- 6. Why We’re Here! • The discipline of talent analytics has become a mandate for HR and business leaders around the world
- 7. Today’s Agenda! • 5 Ways to Win With Talent Analytics • What to Measure: Recruiting Key Performance Indicators (KPIs) • Tips for Practical Application
- 8. How to Get Started!
- 9. 5 Ways to Win With Talent Analytics!
- 10. 1. Forecasting & Setting Budgets! Use analytics to: • Anticipate hiring needs • Break down goals by job title & department • Analyze key metrics to determine what’s working and where to invest • Compare sources of hires over time by job title and department
- 11. 2. Develop Supporting Programs! • Employee referral program • Mobile recruiting • Employer branding • Diversity initiatives
- 12. 3. Get Candidate Perspective! • Put yourself in their shoes & test out every step of the experience • What channels are they using to research you? • Get feedback on your: - Application process on desktop & mobile - Interview process
- 13. 4. Refine Employer Message! • Solicit feedback • Monitor against competition • Identify key strengths and weaknesses
- 14. 5. Develop Reporting Timeline! • Schedule regular updates to share key metrics and explore: - Success in meeting overall team goals - Strength of employer brand – is it hurting or helping you attract & retain talent? - Diversity – are you attracting a range of talent or specific talent? - New tools and ideas
- 15. Getting Started ! • Align goals to business objectives/needs • Determine Key Performance Indicators (KPIs)
- 16. Hi! I’m Lauren ! • Director of Talent Acquisition at Greenhouse • Former consultant and ops manger at Google • Process & data lover @_LaurenRyan_ linkedin.com/in/leryan
- 17. Recruiting KPIs!
- 18. On KPIs! • Key Performance Indicators • Good KPIs are: Key: focus on the most important metrics Performance – related: about results, not activity Indicators: signals and headlines; don’t tell the whole story
- 19. Recruiting KPIs: where to start! SOURCING INTERVIEWING HIRING
- 20. 1. Number of QCs per Opening ! Recruiting’s version of a “Qualified Lead.”" This means that in an application review, these candidates seem to have the skills and experience required to warrant an early conversation. This serves as a leading indicator that the interview funnel is filling up with qualified candidates.
- 21. 2. Candidate Survey Results! If you don’t ensure an excellent candidate experience, chances are high that you will not be able to convert the candidate to a hire." We find the percentage of people who answer “Yes” or “Strong Yes” to the question “Overall, my candidate experience was a positive one” is a good indicator of a positive candidate experience." A Net Promoter Score from candidates is also a great way to capture this information.
- 22. 3. Source to Close Days! We measure source to close as the number of days between when a candidate applies and when signs an offer. We settled on this because: 1) roles that are continuously open make it difficult to start the count from the date the role is opened and 2) there are many factors that contribute to the amount of time that passes from when a candidate signs and when they start work. In the end, this measure is an indicator of a recruiting team’s process and throughput.
- 23. 4. Offer Acceptance Rate! A strong offer acceptance rate indicates that the team has successfully filled a pipeline with candidates, created an efficient and thorough process, put thought into the candidate experience, and helped the hiring team extend an offer to the right candidate. Remember: Use this metric in an authentic way!
- 24. 5. Hires to Goal! This goal takes input on how long it takes to fill a quality funnel with applicants, move them through the process, and close an offer. " Tracking and reporting on your organization’s level of accomplishment toward this goal is a critical component of measuring its recruiting success.
- 25. Recruiting KPIs @ Greenhouse! Sourcing" Do we have enough qualified candidates in the pipeline? Number of QCs Interviewing " Is our process efficient? Source to close (days)" Are we providing a good candidate experience? Candidate survey results" " Hiring " Are we closing the candidates we want to hire? OAR (offer acceptance rate) " Are we hitting our hiring goals? Hires to goal
- 26. # of QCs Source to close Candidate Surveys OAR Hires:Goal SOURCING INTERVIEWING HIRING
- 27. Set Baseline Benchmarks! Where do you stand today? • Employer Brand: Glassdoor reviews, satisfaction surveys • Awareness: inbound traffic sources and volume • Recruiting Effectiveness: - Hiring: time to hire, CPH, app to hire ratio (by job title) - Interview Satisfaction: Glassdoor reviews, satisfaction surveys
- 28. Practical Application: ! Workforce Planning! !
- 29. Borrowing from sales | Jan 2016! • Wanted to be able to cut through recruiting requirements that varied wildly from month to month to be able to accurately plan for the year.
- 30. Sales consistently communicates their goals and attainment! ! 0 5 10 15 20 25 30 35 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Reveue($millions) Sales Revenue (Goal vs. Actual) Revenue Goals ($MM) Revenue Actual ($MM)
- 31. If we wanted this level of accuracy, we needed to nail down goals.! 0 2 4 6 8 10 12 14 16 18 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Hiring: Planned vs. Actual Planned Hires Actual Hires
- 32. We developed a plan to drive realistic headcount goals! ! 1. Understand the org’s goals and headcount requirements. 2. Understand how roles match with org priorities. 3. Quantify Recruiting’s capacity to support those goals. 4. Calibrate the delta. 5. Educate department leaders on team’s capacity. 6. Prioritize roles with department leaders. 1. Wash, rinse, repeat.
- 33. Calculate Recruiting’s capacity to hit goals! ! Model out: 1. Which roles your team can fill 2. When they can fill them by
- 34. Calculate Recruiting’s capacity to hit goals! ! There are many methods for modeling capacity! ! 0 2 4 6 8 10 12 14 16 18 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Hiring: Planned vs. Actual Planned Hires Actual Hires
- 35. We built a “points” model that weights roles by difficulty Assign points by role difficulty Asses how many points a recruiter can carry per month Calculate out for the team for the year Calculate Recruiting’s capacity to hit goals! !
- 36. Assign points by role difficulty Assess how many points a recruiter can carry per month Calculate out for the team for the year Calculate Recruiting’s capacity to hit goals! !
- 37. Assign points by role difficulty Assess how many points a recruiter can carry per month Calculate out for the team for the year Calculate Recruiting’s capacity to hit goals! !
- 38. Calculate Recruiting’s capacity to hit goals! ! Recalibrate goals against capacity! Can your team meet the current hiring goals? If so, yay! If not, collaborate with senior leadership to model out what’s best for the business. It might mean: • Growing the recruiting team • Augmenting the team with agencies or contract recruiters • Lowering hiring goals • Drawing out hiring timelines • Get help from the rest of the org
- 39. Use KPIs to finalize plan ! Now that we have a hiring plan, and the team we need to hit it, we can use Average Days to Offer and Average Time to Fill to accurately commit to hires per month. 0 2 4 6 8 10 12 14 16 18 Hiring: Planned vs. Actual Planned Hires Actual Hires
- 40. Recap!
- 41. Recap! 1. Leverage Talent Analytics insights to forecast, address gaps and refine processes 2. When it comes to KPIs, track the following aspects of your recruitment efforts: - Number of Qualified Candidates - Days to Offer - Candidate Survey Results - Offer Acceptance Rate - Hires to Goal
- 42. Q&A!