Listen in on the recent conversation between Sion Perks, Recruiting Lead at LeanData, and CodeSignal Co-Founder Sophia Baik in Data-Driven Recruiting Episode #55. Perks and Baik discuss key recruitment metrics to measure, building a data-driven recruitment process, and more. In this episode you will learn about:
- Three key recruitment metrics you should be measuring
- How to advocate for a data-driven approach to recruiting in your organization
- How to iterate on and improve your recruitment processes
Sion Perks, a recruiter with nearly 10 years of experience, joined LeanData as the Recruiting Lead a year ago with a vision: to build out a recruiting process that is scalable, replicable, and data-driven. LeanData is an industry-leading B2B Revenue Operations platform that operates within the Salesforce CRM to automate the go-to-market process, accelerating organizations’ revenue and growth.
On this episode of Data-Driven Recruiting, Perks spoke with Baik about the three key recruitment metrics he finds most important to measure, how you can advocate for using data in your organization’s recruiting processes, and improving your recruitment processes through gathering feedback from relevant stakeholders.
Key Recruitment Metrics
1. Time to Hire
“Time to Hire” measures the time it takes for a candidate to move from first entering your hiring process, whether as an inbound applicant or a sourced candidate, to accepting an offer. For Perks, time to hire is a “classic” metric of recruitment success that is crucial for any organization to measure. “It measures the efficiency of any recruiting organization,” says Perks. “Time to hire is just incredibly important.”
2. Quality of Hire
Quality of each hire, as its name suggests, is a more qualitative metric of the success of your recruitment processes. Measuring the quality of hire requires recruiters to develop ongoing relationships with both new hires and with hiring managers to better understand the success of your recruiting processes. As a recruiter passionate about fostering relationships, this metric tops the list for Perks in terms of which recruitment metrics to measure. “It’s the metric I personally like following most closely,” says Perks.
3. Cost to Hire
Finally, cost to hire provides an effective quantitative measure of the success of your recruitment processes. Perks finds that cost to hire is the best way to measure the value of your recruitment tools. His advice? “I think it’s important to concentrate on a handful of tools. There’s hundreds of great recruitment tools out there on the market, but having a handful of recruiting tools, spending your money appropriately on those tools, and really understanding which tools are adding value is important. Cost of hire is a good way of measuring that,” says Perks.
Advocating for Data-Driven Recruiting Processes
Identifying key metrics to measure is a great step if your organization already buys into using data-driven recruitment processes. But, Baik asks, how can you gain your organization’s buy-in to data-driven recruiting if they’re not yet using data to inform their processes?
The answer, according to Perks, is finding interesting data and presenting it in a way that highlights its business value. “We’ve all got access to these pretty powerful analytical tools on the recruiting end of things. Most recruiters have access to the reporting functions of whatever ATS they’re using,” says Perks.
His advice to recruiters is simple: “Just play around! Find things that you think are interesting, and once you find those, you can discuss them in meetings and bring them to one-to-ones with your manager.”
Improving your Recruitment Processes
All data-driven recruitment processes need to start somewhere – and “it doesn’t need to be perfect in its first iteration,” Perks explains. The key is to iterate on your processes through continually seeking feedback from relevant stakeholders. At LeanData, he does this by checking in with both new hires and hiring managers at regular intervals after a hire has been made.
“Continuing to have that relationship with the person you’ve hired and with the hiring manager, and checking in with them after a month, two months, three months, is the most important way of learning how successful the process was,” says Perks. Based on this feedback, Perks recommends improvements to LeanData’s recruiting processes. The result? An iterative process of continuous improvement that creates exceptional experiences for candidates and quality hires for LeanData.
Want to learn more about how you can build a winning organization through data-driven recruiting? Visit CodeSignal to find out how you can measure technical skills effectively and objectively with its automated assessment and live interview solutions.