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    The Metrics That Matter: What HR Leaders Need to Know to Track Progress in 2024

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    Though promises of efficiency, productivity, and experience boosts may have served as initial motivators for HR leaders’ investments in connected technology, there’s another benefit that is slowly but surely stepping into the spotlight: objectivity. As digital toolsets expand and their capabilities grow, talent acquisition (TA) teams are increasingly recognizing the value that comes with quantifying outcomes—especially in a field in which “success” often feels like a moving target.
    That said, not all data is created equal. Some metrics prove more valuable to teams than others, and knowing which ones speak to your organization’s goals is critical to benchmarking performance and making progress. As recruiting’s digital transformation journey continues, learning about the metrics that digital suites can provide—and which matter in the context of your optimization journey—is critical to improving outcomes.
    Seeking success with statistics
    Employ’s recent Recruiter Nation study aimed to get to the heart of the matter, asking participating practitioners to rank key TA performance metrics by their value. Here’s what they said…

    Quality of hire: Quality of hire was overwhelmingly cited as the most valuable metric TA teams use to evaluate success, with nearly one-third (31%) of respondents putting it at the top of their lists and 73% ranked it in their top five. This metric takes into account employee productivity, engagement, culture fit, and other performance feedback to try to add color to recruiter and TA team performance. It also helps teams correlate skills and qualities with successful hires to build more precise profiles for different roles.
    Time to fill: Time to fill reflects the timeline of the average hire, from the day the listing posts to the day a candidate accepts the offer. More than half (59%) of practitioners put time to fill in their top five metrics of value, with 14% saying it is the most valuable metric they use. This information can help highlight opportunities to improve sourcing and interview processes by department, role, or sector.

    At present, the average time to fill across industries, business size, and roles is 47.5 days, but it can vary wildly across industries. At one end of the spectrum are things like media roles, which take an average of 62.21 days to fill in today’s market. Healthcare roles, which are on the other end, take just 38.23 days on average. Knowing the timeframe for your industry critical to planning, as is seeing how your company compares to others.

    Cost per hire: Cost per hire uses operational data to estimate how much it costs to fill a given role. This metric ranks just behind time to fill, with 12% of respondents ranking it in the top spot and 57% putting it among their top five. Knowing the cost of each hire helps teams contextualize recruitment spending and find opportunities to cut waste by adjusting processes to avoid superfluous costs.
    Retention rate: It’s no secret that retention is a top priority in modern businesses, and retention rate data was an easy choice for respondents’ top five lists. Despite only 11% of respondents saying it’s the most valuable metric in their operations, 62% put it in their top five and 14% cited it as their second-most valuable data point.

    To determine retention rates, teams calculate the percentage of employees meeting specific criteria that remain employed over a set period. This exercise can help reveal the characteristics that may lead to employees staying at your company for the long haul and signs that someone might be gearing up to leave.

    Hiring manager satisfaction: Hiring manager satisfaction rounded out respondents’ top five metrics of value, with 53% of practitioners citing it among their top choices (7% said it was their most valuable). This measures managers’ overall satisfaction with the hires made on their behalf using data from qualitative and quantitative surveys. With this information, acquisition teams visualize performance, evaluate progress, and learn from feedback about areas they could improve.

    Of course, all of the above metrics can function at various levels of the business to provide different types of insights and speak to different opportunities for improvement. For example, one company may look at retention rates by department while another may look at this measure through the lens of the recruiter that conducted the search. The former can give insight into ways to improve department-level management practices, while the other may speak to the performance of the TA team member.
    The same is true for any of the metrics noted above—and others. As teams filter results down by various criteria, they are able to find patterns, identify correlations, and identify and test possible solutions.
    What matters to you
    Perhaps the most notable insight is the lack of alignment on the issue overall. Yes, some metrics—like quality of hire—stood out as clear frontrunners. Still, though, none of the options presented were seen as unanimously without value. Even those that scored lower overall were at the top of someone’s list, which speaks to a truth about measuring progress: The perceived value in any metric is directly linked to organizational goals. In short, the difference isn’t between having data and not having it; it’s how you use the data that makes the real difference within an organization.
    Candidate relationship management (CRM) platforms, applicant tracking systems (ATSs), and recruitment marketing software (RMS) all serve as records of past successes and failures. For companies that are used to having “lifers” among their ranks, a metric like retention rate may not be important. But for someone else, finally putting retention performance into tangible, quantifiable terms may yield the insight they’ve been missing.
    Because the possible variations, combinations, and applications of data made available by CRM, ATS, RMS, and other connected platforms are near infinite, it’s up to each company to identify what matters to them. That’s the beauty of connected operations; if you can capture it, you can track it and measure against it. That’s what allows you to experiment with new approaches and find solutions that move the needle for your business, whatever they may be.
    By Josh Jones, talent acquisition manager at Employ Inc.
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      Getting Ghosted by Talent? The Four Jobseeker Personas Recruiters Need to Know

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      In today’s competitive market, finding the best candidate for the role is no easy feat. While we generally find more available talent in the pool, ensuring a high-quality candidate with a strong fit for the position compounds the complexity of recruiting. Recruiters have to embark on candidate conversations while unsure what’s driving each candidate to seek a new position and how that motivation affects their outlook during the search process.
      Defining a persona framework can help recruiters get to the heart of what’s driving each applicant, what they’re looking for in a new opportunity, and which tactics will keep them the most engaged throughout the process.
      Recent data from Employ shows that today’s jobseekers can be divided into four groups based on a combination of two key traits:

      How consistently they search.
      The number of positions to which they apply.

      These two traits interact in the following way to create four primary persona categories:

      When recruiting teams understand these four personas—and how to spot them—they are more prepared to understand candidates and empowered to customize the candidate experience in a way that resonates with each person they speak with. This often results in better placements, shorter time-to-fill, and more successful hires.
      All About Diligent/High-Volume Applicants
      Diligent/High-Volume applicants make up about 10% of the current market, and they are driven by economic and employment market conditions. These applicants are primarily triggered by job posting alerts and will apply to a wide range of positions with various responsibilities and job functions.
      Traits
      Diligent/High-Volume job seekers tend to be optimistic, believing it will take less than a month for them to find a job, and they apply for jobs with large salary ranges. Additionally, this type of job seeker tends to gravitate toward roles at companies with strong leadership, room to advance, and resources for career development.
      Approach
      Diligent/High-Volume job seekers will use social media and subscribe to job advertisements and will likely mention their research during the interview process. As frequent resume updaters, these candidates tend to begin their job search within their current organizations and will apply for jobs at other companies even if there isn’t an opening.
      Engagement tactics
      These workers tend to appreciate simple, straightforward interview processes. These candidates are likely to abandon opportunities if they find them too time-consuming, so streamlining the interview and scheduling process is likely to impress.
      All About Sporadic/High-Volume Applicants
      About 25% of applicants in the current labor market are considered Sporadic/High-Volume applicants. These are the people who turn to LinkedIn or other job boards after a particularly bad or frustrating day at their current position.
      Traits
      These applicants are usually satisfied in their current roles. They may be seeking out organizations that tout career advancement opportunities. As a result, they tend to apply to multiple jobs that they have no intention of accepting. They tend to be just beginning their career, have taken a new job in the past year, and apply for jobs with large salary ranges. Like their Diligent/High-Volume counterparts, these job seekers frequently update their resumes, and keep an eye on their current companies’ financial positions.
      Approach
      Recruiters can identify Sporadic/High-Volume job seekers by their application method. They regularly search job boards and appreciate easy scheduling. If the interview went well, an offer was made, but the job seeker sends an impersonal response or even goes dark, a Sporadic/High-Volume job seeker may have crossed your path.
      Engagement tactics
      To capture these applicants, stay away from hiring channels that require registration as a part of the hiring process. They’re likely to abandon applications that require any registration elements. Even though they are likely to be satisfied at their current role, recruiters that think a Sporadic/High-Volume applicant is a perfect fit may get their attention with an incredibly compelling offer but should be ready to negotiate and to respond to their current employer’s counter.
      All About Diligent/Selective Applicants
      Diligent/Selective job seekers are triggered by burnout, and about 40% of applicants fall into this category. Since burnout is a trigger, they are hesitant to apply for jobs they feel they are unlikely to get and prefer efficient processes. They are serious about their search and conduct it over a long timeline.
      Traits
      Diligent/Selective job seekers are not interested in applying for positions with wide salary ranges. They know what they are looking for and stick to those parameters. They are less inclined to search for new opportunities within their current organization and motivated by specific roles that excite them.
      Preferences
      Diligent/Selective job seekers tend to stick to a single application method: the company’s website. Additionally, they are highly prone to abandonment and prefer short and efficient recruitment processes.
      Engagement tactics
      These applicants tend to be targeting companies or roles that speak to them, so defining a company mission, vision, and value set is incredibly important when encountering Diligent/Selective job seekers. Make highlighting these aspects of the company a priority early in the interview process and try your best to keep initial applications brief, yet comprehensive.
      All About Sporadic/Selective Applicants
      Sporadic/Selective job seekers are triggered by boredom in their current situation and make up about 25% of today’s applicants. Like their Diligent/Selective counterparts, they are unlikely to submit applications to employers that they deem unlikely to hire them.
      Traits
      These applicants tend to be later in their career. They rarely apply for open roles at their current company, do not apply for jobs with large salary ranges, submit few applications for new roles, and do not use social media to find open roles.
      Preferences
      Sporadic/Selective job seekers’ applications tend to favor brevity and their resumes tend to possess stale skills as they have not likely invested time in their own learning and development. Since they’re motivated primarily by boredom and exploration, they’re also hesitant to spend time on additional application materials, preferring to let their experience speak for itself.
      Engagement tactics
      To engage these applicants, create highly personalized, effortless recruitment experiences. They’re applying to see what’s available to them as they currently are, so if you think a Sporadic/Selective applicant is the perfect fit, it’s best to keep extraneous tasks to a minimum. They also strongly believe that the modern hiring process is excessive, so it’s critical that recruiters communicate decisions or next steps and their reasoning throughout the process.
      Setting up for success
      In today’s market, recruiters need to go the extra mile to ensure success along each step of the recruiting process. Using the four personas as a baseline can help recruiters begin the process of tailoring their hiring strategies to a given candidate’s needs.
      Finding talent is tough, and recruiters need to arm themselves with tools to find quality candidates for open roles. Though each candidate is unique, keeping the four personas in mind throughout the process helps remind recruiters that hiring is not a one-size-fits-all endeavor. Understanding the four job-seeking personas and their associated triggers helps recruiters provide high-quality candidate experiences and fill skill gaps more quickly and successfully.
      By Corey Berkey, SVP of People, Employ Inc.
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      How to Cultivate Top Talent While Navigating a Volatile Job Market

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      The current employment landscape is complex and punctuated by uncertainty. Buzzwords like the ‘great resignation’ and ‘great layoffs’ are sparking a shift in hiring strategies among employers, especially as a potential recession is looming. The unemployment rate is at its lowest in 50 years at just 3.5%, yet there remains a strong demand for workers as there are currently 1.7 job vacancies for every unemployed American. In this unusual labor market, recruiters and hiring managers must be prepared to attract the best talent for open positions while anticipating the needs of current and future employees.
      Companies can attract and retain top talent in today’s shifting job market with streamlined candidate communication, a renewed focus on employee mobility, and proactive recruitment strategies.
      Streamline communication tactics.
      The methods used to connect with job seekers and current employees must evolve with rapidly changing technology. Simplified and personalized communication allows recruiters and HR leaders to expedite their entire recruiting process, and in turn, make it easier for potential employees to learn about open positions.
      Text recruiting increases the pace of candidate communication which improves the overall recruiting process for all parties. Sourcing, interviewing, hiring, and more can be bolstered by texting, especially when open rates for this method are near 100%. A study by Gartner found that the average text open rate is 98%, while email has only a 20% open rate. Texting allows recruiters to build rapport and trust with candidates while strengthening the employer brand and improving the candidate experience.
      According to new data from Employ Inc., the largest provider of recruiting and talent acquisition solutions, more than 70% of recruiters know candidates who have received multiple offers at the same time in the last six months alone. When candidates are juggling competing job offers, recruiter timeliness becomes increasingly important. Forty percent of job candidates reject offers because another organization made an offer quicker, according to Top Echelon Network research. Text messaging is one way to get in front of candidates even sooner.
      Focus on referrals and employee mobility.
      Employers can benefit from empowering team members to grow within the organization. Regularly revisiting employee mobility plans and performance management systems can encourage employees to explore more internal opportunities. However, 29% of workers say their employer does not offer a platform or software to make it easy to apply for open internal roles. Optimizing employee talent cycles, offering professional development opportunities, and focusing on internal mobility can ensure roles do not become stagnant.
      Employee referral programs can also be efficient ways for recruiters to discover qualified candidates, while also lowering the average cost-per-hire. The 2021 Job Seeker Nation Report found that more than 80% of workers are likely to click on a job opportunity that someone in their network posted on social media. The same study also found that more than 70% of employees are willing to share job openings at their companies via social media. Platforms like LinkedIn, Facebook, and Twitter can be powerful tools in a company’s talent acquisition strategy and lead to organic employee referrals. Instagram and TikTok should also be considered, especially when recruiting younger candidates.
      Proactively recruit passive candidates.
      Passive candidates are not actively looking for a new job opportunity, but may be open to opportunities that fit their personal and professional goals and needs. According to LinkedIn, passive candidates make up 70% of the talent market.
      Organizations that are active on social media are more likely to be seen by passive candidates. Being active on LinkedIn, Glassdoor, and other social media outlets can help showcase the employer brand and give an inside look at its culture to attract potential employees with similar values. Utilizing social media channels to promote the employer brand can impact the perception of the company for current employees and the overall workforce.
      Nearly 80% of job applicants use social media during their job search, according to Glassdoor. An active LinkedIn profile is especially important for networking with passive candidates and sharing stories of employee growth, exciting client projects, and other company news that may appeal to active job seekers.
      When an employer brand stands out to employees who share similar values, organizations are more likely to attract talent who will root for the company, be passionate about their roles, and show a long-term commitment. Within a job market that is in constant flux, organizations that stay ahead of hiring need to engage candidates proactively will have an advantage. This often involves sourcing, engaging, and attracting candidates ahead of a need to fill a specific position and finding new ways to reach passive candidates.
      These are just some of the strategies recruiters and HR executives can consider in attracting a new pool of candidates. When labor market shifts are difficult to predict, today’s HR leaders must find new ways to attract top talent and retain current employees to benefit companies now and in the long term.
      Written by: Kelly Cruse, vice president of human resources and chief diversity officer of Atlas World Group.
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      How to Effectively Respond to Candidates’ Final Interview Questions

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      The seismic shift during the last two years has turned the labor market on its head. Today, there is a near record of ~11.2 million jobs available, with almost two job openings for every unemployed American. And with the constantly shifting landscape, companies continue to face high employee turnover and difficulty acquiring quality talent to fill open roles. Sixty-nine percent of recruiters believe attracting and hiring talent will be difficult for the remainder of the year, per the latest data from Employ Inc.’s latest Quarterly Insights Report.
      To overcome this challenge, it’s key to determine whether the role aligns with the expectations and preferences of job seekers. One of the best ways to find out is during the interview process. By opening the interview floor to questions from a job candidate, you have the opportunity to better understand what is important to them and make authentic connections in a highly competitive hiring environment. In the past six months, 72% of recruiters have encountered candidates who have, at one time, received multiple offers at the same time.
      “What motivates you [Recruiter or Hiring Manager] to stay on the team at your organization?”
      Job seekers know what they are looking for in their next position and want to be satisfied with their future employment. In fact, new research shows that 32% of workers would quit a job without having another one lined up if they don’t feel content or fulfilled with their job. Answering this question truthfully will help the candidate determine whether or not your organization is a good culture fit. Especially since 21% of job seekers cited poor company culture as the top reason for leaving a job in the last 12 months. Another thing to consider is welcoming the candidate to ask that same question to others. The different perspectives of your hiring team can help the candidate really understand the organization and how it might align with their values.
      “What has the company implemented to help drive improvement in the organization?”
      While this question is broad, your answer can help your organization stand out. Tie this answer to the initiatives implemented to build your company culture or improve the well-being of employees, such as mental health benefits, strong work-life balance, and flexible work arrangements, among others. Per Employ data, poor company culture is one of the top reasons employers switch jobs. You might also pull an example from how the organization was faced with a challenge, made a change, and was ultimately able to overcome that obstacle. In addition to a strong culture, reinforcing how your team solves problems collaboratively can really help improve the candidate’s understanding of why they would want to join your team.
      “How has the organization been performing against goals this year?”
      Job seekers want to know whether an organization is setting and achieving its goals. This is especially important for roles where reaching individual goals correlates with salaries, as compensation continues to be a driving factor in today’s hiring climate. Per Employ’s latest data, 42% of recruiters found making adjustments to compensation and total rewards to be the most helpful strategy in overcoming the tight labor market. That’s why it’s crucial to leave interviewees with a clear understanding of compensation, how attainable the goals are, and whether the organization has successfully achieved them.
      “What is [Hiring Manager’s] leadership style?”
      Misalignment on leadership styles can cause significant workplace issues and future career paths. That’s why job seekers need to understand their potential manager’s leadership style and for you to know how candidates like to receive direction and feedback. Answering this question with transparency is critical. Otherwise, you risk hiring a new employee who may not mesh well with the team. Employ data found that nearly one-third of workers who left their job after 90 days claim unsatisfactory company leadership as the primary rationale for departing.
      “Do you have any concerns about recommending me for this position?”
      If you have concerns about gaps in skills or experience, take the time to explain why those are important to the position and allow them to respond. The candidate’s response to the feedback can also signal how well they handle critical feedback and if they’re willing to grow in the areas they’re lacking. Pay attention to what experiences they highlight to help reduce your potential concerns. The conversation surrounding this question could ultimately make, or break, your decision to move forward with a candidate or their decision to accept the job.
      Overcome Hiring Challenges with the Right Technology
      Before an interview even takes place, sourcing the right talent for open roles is crucial. However, our data reveals the biggest challenge for over half of recruiters is finding and hiring quality candidates, while 62% said improving quality-of-hire is their top priority. In today’s tight labor market, recruiters must adapt their tactics and processes to identify the best possible candidates, which can be accomplished by investing in intelligent talent acquisition technologies to meet hiring goals.
      When determining the best solution for the needs of your talent acquisition (TA) team, ensure the technology has extensive experience in delivering recruiting results within your specific industry and business size. Identify solutions that go beyond applicant tracking and integrate a wide range of capabilities to support your hiring goals, including recruiting AI and automation, employee referral tools, analytics, and more. With these solutions, organizations will have everything needed to identify the best candidates for every job opening and the opportunity to dig even deeper during the interview process.
      Corey Berkey serves as Senior Vice President, People & Talent, at Employ Inc. 
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      in Workplace

      How to Amplify Your DEI Initiatives in 2022

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      Talent acquisition teams are no stranger to the importance of creating a diverse, equitable, and inclusive (DEI) workplace for all employees. According to the newly-released 2022 Job Seeker Nation Report, 38% of workers would turn down a job offer if the company lacked diversity in its workforce or had no clear goals for improving diversity in hiring. Below are ways companies can amplify DEI initiatives in 2022.
      Take Meaningful First Steps
      Many talent teams are dedicating considerable time and resources to DEI, including increasing investing budget resources to expand their efforts. In fact, 68% of recruiters reported that they believe improving DEI in their organization will be a top priority in the next year.
      Teams can take small steps by measuring key recruiting metrics in the process and continuing to analyze areas of improvement as changes are made. Here’s how:

      Understand the current workforce: This is a crucial step to help measure diversity of representation among an existing employee base. Evaluate the demographics across the organization, and within departments.
      Create a more diverse candidate pool: You’ve got to start somewhere, and there are several free tools and resources that can help you make sure you, and your company, are putting your best foot forward. Make small improvements to be more inclusive in recruiting practices by using free tools to help write more inclusive job descriptions and attract a wider variety of candidates.
      Develop inclusive content: Use existing social media channels and the company’s career website to tell employee stories within the organization. By leveraging this original content, your team can further convey how employees of differing backgrounds, ethnicities, races, genders, and abilities feel a sense of belonging. This is also a great medium to share current efforts and commitments for improving DEI. Think like a marketer – track the data related to interactions with your posts, understand what messages perform well, and determine what messages your audience wants to hear more about.

      Align Hiring Teams on Candidate Requirements
      Hiring team members can get stuck on the notion of the “ideal candidate.” This mindset can limit the diversity of talent pools by having too many requirements listed when they may not all be necessary. In today’s competitive labor market, this will cost your organization time, which inevitably will cost you top candidates.
      Grow a Diverse Talent Pipeline
      Today’s labor market is incredibly tight, and candidates expect a culture that embraces diversity, equity, and inclusion. Avoid limiting the talent pool by requiring specific skills and experience that are not dealbreakers. Build programs to attract, engage, and hire historically marginalized communities through strategic audience planning and develop programs to make everyone feel welcome.
      Talent teams must work hard to expand their talent networks and source diverse candidates, which can be done in the following ways:

      Interact on social media: Keep in touch with potential applicants, passive talent, and past candidates on social media. Share what’s going on in the company, tell employee stories, answer questions, post job openings, and give info on referral programs to the network.
      Attend recruiting events: Virtual and in-person recruiting events can be great places to help you build your talent network. Focus on hiring events that bring together a niche audience that is centered around diversity. These events are a great way to connect with job seekers and broadcast the message that the company is hiring.
      Work with local organizations: Find local diversity groups and work with them to source candidates for open positions. Building a relationship with these organizations can help long-term network growth.

      Leverage tools needed to enhance DEI initiatives
      Automation and AI tools can help further supplement DEI initiatives, streamline hiring  processes, and eliminate manual tasks in the following ways:

      Automated intelligent sourcing: Sourcing candidates can be the most time-consuming process in recruiting. Automated intelligent sourcing can help find candidates that fit open roles and invite them to apply. It can also reach top candidates while keeping the pool diverse.
      AI candidate skill-matching: Skill matching automatically screens applicants for role requirements, which is helpful for specialized roles that benefit from diverse candidates, such as engineers, healthcare workers, or machine operators. Integrating automated skill-matching tools with applicant tracking systems (ATS) eliminates the strain of managing multiple candidate databases in different places and helps find qualified talent more quickly. Leveraging technology to screen for skills can also help reduce bias in your hiring processes.

      Start Investing in DEI Today
      The time to prioritize DEI is now. In today’s challenging labor market, those who prioritize diversity, equity, and inclusion will find more qualified candidates, which can turn into new hires. Talent teams can improve the diversity of their candidate slates by taking charge and applying the right strategies throughout the hiring process, including sourcing, relationship management, workforce planning, and audience planning.
      The investment in DEI goes far beyond cash – employers can invest time in telling the organization’s story, setting expectations, and aligning teams, which often yields the highest return on investment. It’s critical to lead DEI initiatives with empathy, compassion, and dedication, and to be relentless in driving change.
      By: Corey Berkey, Senior Vice President, People & Talent, Employ Inc. 
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