Business leaders and financial executives know how their businesses are performing based on the analytic tools, monitoring the progress against established goals, as well as benching their companies with “best in class companies” and their competition. Other than a company’s payroll cost, the cost of recruiting talent is typically the second greatest cost to companies. As a business within a business, are you measuring the performance and capability of the talent acquisition function? How much does your company know about the following:
- How long does it take to complete a search? What factors other than time to fill (search start date and offer acceptance date) are part of your recruiting analysis?
- How much does it cost to fill senior level (director and above) positions?
- What have been the best sources of candidates for senior leadership positions? Do these sources generate the best slate of candidates to select from for your needs?
- How do you measure the quality of a search engagement?
- Do you use recruiting metrics in the selection of search firms and decision on search strategies?
- What factors are hindering your company’s ability to complete searches faster, at a lower cost and improve retention?
- How can social media recruiting improve your ROI on senior level searches?
Establishing Recruiting Metrics for your company usually begins with an assessment of your search strategy and execution processes. Executive Search Advisory Partners has established meaningful recruiting metrics and processes in multiple industries which have improved internal search capability.