How confident are you in your understanding of the hiring requirements of your business? The answer to that question can vary greatly depending on who you’re talking to.
Hiring Friction Component
Performance Measurement & Benchmarking
Performance measurement and benchmarking refers to the measurement and understanding of the different aspects of your hiring performance.
Hiring has transformed in recent years. The volume of candidates and amount of candidate data has grown exponentially, technology has proliferated, and many recruiters are now also expected to help their companies meet diversity, equity, and inclusion (DE&I) goals—to name just a few of the major shifts in the industry. All this change means that
traditional recruiting performance metrics, such as tying sourcing performance primarily to placements, may no longer be the best measures of talent professionals’ performance.
There’s no single set of metrics that works for every recruiting team, though generally there is an increased focus on business impact. For example, with a growing emphasis on meeting company DE&I objectives, many recruiting teams are now setting DE&I goals for sourcing and interviewing specific numbers or percentages of candidates from traditionally under-represented backgrounds. Similarly, many recruiting teams are now partnering with other members of the HR team to see how candidates perform once they’ve joined a company by measuring quality of hire.
The specific metrics can vary from organization to organization, but what’s most important is setting goals and tracking performance towards those goals, as this lays the foundation for continuous improvement and rewards and recognizes top performers.
When performance measurement and benchmarking is low friction, teams have a clear portfolio of measures spanning transactional, quality, and business impact as well as regular performance reviews that may include internal and external benchmarking. In a high friction setting, though, hiring is completely reactive and there is no attempt to understand hiring performance.
Talent Acquisition Diagnostic assessment
Take the Hiring Friction assessment to benchmark the performance of your recruitment function using the components of the Hiring Friction Maturity Matrix.
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