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

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 )

Predictive(Predicts future metrics; future-

focused)

Metrics

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

Need Date (VS) Fill Date

Requisition Filled

Requisition Opened

40 Days

Need Date

3 Days

47 Days Off Target

90 Day Hire

?Need Date

Fill Date

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

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

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

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 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

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

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

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

Quality of Hire• How to measure Quality of Hire at CMFG

– Surveys that are based off of Core Competencies.1. Customer Focused2. Ensures Accountability3. Nimble Learning4. Optimizes Work Processes5. Self-Development

– Current Problem: One survey that attempts to measure different things.

– Solution: 2 Surveys• Ask new hire • Ask hiring manager• Ask Recruiter

15

Day 1 and Day 90 Surveys

Day 1 Survey

Measures? Interview ProcessWho takes it? New Hire, Hiring Manager & RecruiterWhat 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

Day 1 and Day 90 Surveys

Day 90 Survey

Measures? Quality of HireWho takes it? New Hire & Hiring ManagerWhat 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

New Hire Turnover

Day 90 Survey

Measures? Quality of Hire & Turnover IntentionWho takes it? New Hire & Hiring ManagerWhat 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

Dashboard View

73%

16%

11%

Quality of Hire

Quality HiresAcceptable HiresPoor Hires

0%10%20%30%40%50%60%70%80%90%

100%

Recruiting Ef -ficiency

Trustage

Finance

Sales

HR

MEMBERS

0 20 40 60 80 100 120

Time to Fill

Average Days before Need Date Average Days after Need Date

Faceb

ook

Linke

dIN

Referra

ls

Job Se

arch E

ngine

0

100

200

300

Source Yield

# of Hires # of Candidates

2012 2013 2014 20150

20

40

60

80

100

New Hire Turnover

90 Days 1 Year

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

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/