Recruiting KPIs: Using Data to Track and Measure Recruiting Success

Transcription

1 Recruiting KPIs: Using Data to Track and Measure Recruiting Success Lauren Ryan, Director of Talent Acquisition at Greenhouse November 2015 G R E E N H O U S E. I O

2 Hi! I m Lauren Director of Talent Acquisition at Greenhouse Former consultant and ops manager at _ L a u r e n R y a n _ l i n k e d i n. c o m / i n / l e r y a n Process & data lover

3 What you ll learn: 1. Recruiting KPIs at Greenhouse 2. Digging into Our Data (Q2) 3. Setting Goals & Measuring Success (Q3)

4 Recruiting KPIs at Greenhouse

5 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

6 Recruiting KPIs: where to start Sourcing Interviewing Hiring

7 Recruiting Greenhouse Sourcing Do we have enough qualified candidates in the pipeline? Interviewing Is our process efficient? Are we providing a good candidate experience? Hiring Are we closing the candidates we want to hire? Are we hitting our hiring goals?

8 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.

9 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.

10 3. Hiring Speed We measure hiring speed 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 she starts work. In the end, this measure is an indicator of a recruiting team s process and throughput.

11 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!

12 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.

13 Recruiting 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

14 Sourcing # of QCs Interviewing Source to close Candidate Surveys Hiring OAR Hires:Goal

15 Q2 Results

16 In the end of Q2 this year, we implemented a quarterly report that looks back at our KPIs quarter-over-quarter.

17 Snapshot of actual Q2 KPI Report

18 Q2 KPI Report

19 It was mid-july. If we kept on this track, we would only hit ~60% of our hiring goals for Q3.

20 We needed to focus on the top-of-funnel and increase our QCs.

21 A plan for Q3

22 Using historical conversion rates, we worked backwards from hiring goals to set top of funnel goals Hire Offer Candidates Onsite 9 0 % c o n v e r s i o n r a t e 1 8 % c o n v e r s i o n r a t e 1 hire Qualified Candidates Applications 3 5 % c o n v e r s i o n r a t e 2 0 % c o n v e r s i o n r a t e ~ 17 QCs

23 We were hovering between QCs per month, with about 40 open roles for the quarter.

24 Set team goals for: Referrals Prospecting s Job board applications Qualified Candidates Hires

25 We realized our hiring needs outstripped the teams capacity. Q3 Goals Recruiting s Capacity Q3 Delta Prospecting s Referrals Initial Screens

26 So we asked each team with open roles for help, and agreed on specific goals Q3 Goals Recruiting s Capacity Q3 Delta Prospecting s Referrals Help! Initial Screens

27 How we approached asking for help Took a consultative approach, asked for lots of feedback Created trainings, workflows, and Slack channels. Ultimately, teams focused on what fit them best.

28 And, it worked! The results came in

29 Initial Screens G o a l s i m p l e m e n t e d i n A u g u s t May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

30 Initial Screens G o a l s i m p l e m e n t e d i n A u g u s t May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

31 Referrals G o a l s i m p l e m e n t e d i n A u g u s t & f i r s t r e f e r r a l s p a r t y May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

32 Referrals G o a l s i m p l e m e n t e d i n A u g u s t & f i r s t r e f e r r a l s p a r t y May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

33 Hires May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

34 Hires May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

35 Prospecting It s not all good news! We learned that with such high interview volume, it was hard to make time to actively source. We only hit about 30% of our outreach goal. But: We used this knowledge to hire a Sourcer (to actively prospect full-time) and two Coordinators (who will free up bandwidth for recruiters to source).

36 Looking to Q4

37 New roles, new goals At the start of Q4, we took the same model and applied it to our new list of roles. We re using those goals to track our progress on a weekly basis. The leading indicator of QC progress lets us course correct quickly because, in the end, it s all about the hires

38 The data just gets better At the start of each new quarter, we update the conversion rates to truly reflect our process. The more candidate volume we see, the more accurate that data becomes. So, our goals and predictions become better over time.

39 Any questions?