Data Is The New Superpower
Data Is The New Superpower Recruiting Analytics & Reports Please power up your laptop!
Jill Gary, Product Trainer [email protected] © Copyright 2018 SilkRoad
Your New Data Superpowers
What’s your data superpower?
Deep dive into the new recruiting analytics and reports.
Evaluate your talent acquisition strategies through data-driven decisions.
Learn to use data analytics to improve recruiting processes and recruiter performance.
Navigate the Recruiting report tools.
© Copyright 2018 SilkRoad
SESSION MATERIALS Printed For You
Conference App
Worksheet Scenarios (Blank)
• Scenarios Worksheet (Answer Key)
1) Recruiting Pipeline 2) Source of Hire 3) Time To Fill
• Recruiting Analytics Reference Guide • 13 Most Common Hiring Process Bottlenecks & How To Correct Them
4) Mini Scenarios 4-19
© Copyright 2018 SilkRoad
MEASURES OF RECRUITING SUCCESS Key Performance Indicators (KPIs)
Quality of Hire 2018 Metrics
Source Strength
Applications to Hires Ratio New vs Replacement Hires Onboarding Experience Resource: www.td.org
© Copyright 2018 SilkRoad
MEASURES OF RECRUITING SUCCESS Quality of Hire • Employee retention • Hiring Manager satisfaction • Cultural fit • Employee engagement • Job performance
Source Strength • How many new hires come from each source • Average retention for each source • Measure not just THE WHAT, but THE WHY of your best talent pools
Applications to Hires Ratio • The number of applicants you receive vs. the number of individuals hired • Few applicants per hire vs too many applicant per hire?
New vs Replacement Hires • Are your new hires a consequence of true company growth or employee turnover?
Onboarding Experience • First 90 days of employment • Strong onboarding programs improve retention by 82% • Survey new employees and hiring managers Resource: www.td.org
© Copyright 2018 SilkRoad
Recruiting Analytics & Reports What is it? What will it do for me? How do I get the reports? © Copyright 2018 SilkRoad | All Rights Reserved © Copyright 2018 SilkRoad
Recruiting Analytics • Analytic Reports • Mobile Friendly • Data pulls from your SilkRoad Recruiting
© Copyright 2018 SilkRoad
Recruiting Analytics • 19 Reports • • • • • • •
Recruiting Pipeline Source of Hire Time To Fill Recruiter Performance Location Reports Candidate Experience And more…
© Copyright 2018 SilkRoad
HOW CAN I GET IT? Because you are here at Connections… you now have these analytic reports! Visit the Knowledge Lab to schedule time to configure & enable your solution
© Copyright 2017 2018 SilkRoad | All Rights Reserved8 Reserved
Demo SCENARIO #1 Turn To Page 2 (Scenario 1) © Copyright 2018 SilkRoad
Reference Guide
ICONS (TOOLS) Expand Hierarchy
Drill Up
Focus Mode
More Options
Toggle Mode On/Off
Drill Down All
Clear Filters
© Copyright 2018 SilkRoad
RECRUITING PIPELINE REPORT • Most Used • Optimize Recruiting Processes • Filter by Job • Average # days candidates remain in each stage
• Red flags? Bottlenecks?
© Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE
2
My Focus
What I Know
•
•
Takes too long to review resumes between recruiters and hiring managers
•
Losing qualified candidates due to gaps in our recruiting process
•
I want to find:
•
Optimize recruiting processes 2 open positions for Sales Managers
• • • © Copyright 2018 SilkRoad | All Rights Reserved
Causes for slowdowns? Where are the red flags or bottlenecks? Best strategies to make improvements?
SCENARIO 1: RECRUITING PIPELINE
31 total candidates applied for the Sales Manager job
© Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE A. Strengthen the strategy for building and engaging your talent pools (active and passive candidates) B. Improve how you use your ATS communication tools to streamline and accelerate your recruiting process to increase the sense of urgency C. Implement the easy apply option (online quick apply form) on your career site D. Improve your career site (visual appeal) and include an application form (quick to complete) E. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description. F. Improve the structure of your Employee Referral Program to help engage current employees © Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE
B. Improve how you use your ATS communication tools to streamline and accelerate your recruiting process to increase the sense of urgency
E. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description.
What are some bottlenecks that may exist? © Copyright 2018 SilkRoad
GROUP WORK SCENARIOS Turn To Page 3 (Scenario 2) © Copyright 2018 SilkRoad
WHAT DOES SOURCE OF HIRE MEASURE? • Shows what percentage of your overall hires entered your pipeline from each recruiting channel or source (e.g., job boards, referrals, direct sourcing). • Helps you distribute your hiring resources to the most effective recruiting channels which may result in:
• Direct more resources to the most valuable channels (e.g., referrals) • Drop or adjust consistently lagging sources (e.g., campus recruiting)
• Allocate your recruiting budget more effectively and refine your processes.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE
Applicants by Source Export to Excel
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE
3
My Focus
What I Know
• Compare 4 outside sources • Conversion rate per channel • Evaluate each sourcing channel
• Decline in quality of Sales Manager candidates • I want to evaluate: • Best strategies to make improvements • Current recruiting methods that focus on attracting passive job seekers • Allocation of the recruiting budget
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 1: Compare the following resources. Complete the table.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 2: Compare sources when hiring Sales Managers.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 3: Which resource yields the highest hire rate for Hiring Manager, William Martin.
© Copyright 2018 SilkRoad
How To Calculate Ratios
© Copyright 2018 SilkRoad
What Are Recruiting Ratios? Hiring Process Efficiency
Stage Pass Rate %
Hire Rate & Pay Off
• Shows the efficiency of your hiring process. • The more the ratios decrease over time, the more efficient your process becomes.
• Shows the percentage of candidates pass from one stage of the hiring process to another.
• Measures how many candidates were hired from a total number of applications. • Are your external recruiting efforts paying off?
Other Helpful Reports: Pipeline, Time To Fill, and Candidate Experience. © Copyright 2018 SilkRoad
Recruitment Yield Pyramid
Calculate A Recruiting Ratio Other Reports Pipeline & Candidate Experience
Ratio
Return Rate
5:1
20%
5 2nd Interviews
3:1
33%
15 1st Interviews
2:1
50%
30 Hiring Manager Review
4:1
25%
120 Resume Screening / Calls
2:1
50%
1 5 = 20% 5 15 = 33% 15 30 = 50%
30 120 = 25%
120 240 = 50%
X 100
1 Offers
240 Applications © Copyright 2018 SilkRoad
Compare Recruiting Sources Low Ratio = Efficient Process
Source
Candidates
Hires
Return Rate %
Ratio
Job Boards
300
12
4%
25 : 1
Agencies
45
3
6.6%
15 : 1
Referrals
50
10
20%
5:1
10 Hires 50 Candidates (x100) = 20% 50 Candidates 10 Hires = 5 : 1 © Copyright 2018 SilkRoad
CONVERSION RATE Are your recruitment strategies and sources effective? www.td.org
Interviews Applicants (x100) = Interview Return Rate % Hires Interviews (x100) = Hire Return Rate % #Offers Extended #Accepted (x100) = Offer Acceptance Rate %
Note: If your OAR drops to 30%, your hiring process is in trouble. © Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 1
TRY THIS! Calculate the Interviews to Hires ratio on your own! Interviews Hires = Ratio
Hires Applicants (x100) = Return Rate %
Applicants Hires = Ratio
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 3
TRY THIS! Calculate the Interviews to Hires ratio on your own! Interviews Hires = Ratio
Hires Applicants (x100) = Return Rate %
Applicants Hires = Ratio
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE A. Improve how job descriptions are written. Are they clear and concise? Do they draw them in and is it compelling? B. Improve your recruiting methods that focus on attracting passive job seekers. C. Review your recruiting budget to ensure that you are spending in the most effective recruiting channels. D. Improve your career site (visual appeal) and include an application form (quick to complete). E. Improve the structure of your Employee Referral Program to help engage current employees. © Copyright 2018 SilkRoad
GROUP WORK SCENARIOS Turn To Page 4 (Scenario 3) © Copyright 2018 SilkRoad
WHAT DOES TIME TO FILL MEASURE? • The number of days between posting a job and offer accepted.
• A critical metric that is used to inform more accurate planning. • An indicator that your job marketing isn’t working or that you’re not sourcing fast enough. • Provides information about your company growth and hiring needs. • Learn to budget time more effectively in planning your hiring needs. • Enables proactive hiring (e.g., It helps us plan ahead and get started in time to have a new hire in place and fully trained to carry out his/her workload) © Copyright 2018 SilkRoad
TIME TO FILL REPORT
Export to Excel
© Copyright 2018 SilkRoad
4
SCENARIO 3: TIME TO FILL My Focus
What I Know
• Support Services Dept • Houston area • Evaluate number of days to fill jobs in this department • Compare effort levels to fill different skill sets/positions and set appropriate expectations for recruiting process duration
• Some positions fill more quickly • I want to find out: • What is working well? • Red flags? Bottlenecks? • Current recruiting methods that focus on attracting passive job seekers • Best strategies to make improvements © Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL SLICE 1: # of days it takes to fill jobs within the Support Services Dept.
© Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL SLICE 2: Look at all the Support Services jobs in Houston Texas.
© Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL A. Improve how job descriptions are written. Are they clear and concise? Do they draw them in and is it compelling?
B. Improve your recruiting methods that focus on attracting passive job seekers.
C. Improve your career site (visual appeal) and include an application form (quick to complete).
D. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description.
E. Improve the structure of your Employee Referral Program to help engage current employees © Copyright 2018 SilkRoad
Reminders! Engagement Center
Training
Office Hours
Video Library
Free Classes
Free
What’s New
MWSR Schedule
Training Q&A Just For You 1:1 © Copyright 2018 SilkRoad
Jill Gary, Product Trainer [email protected] © Copyright 2018 SilkRoad
Your New Data Superpowers
What’s your data superpower?
Deep dive into the new recruiting analytics and reports.
Evaluate your talent acquisition strategies through data-driven decisions.
Learn to use data analytics to improve recruiting processes and recruiter performance.
Navigate the Recruiting report tools.
© Copyright 2018 SilkRoad
SESSION MATERIALS Printed For You
Conference App
Worksheet Scenarios (Blank)
• Scenarios Worksheet (Answer Key)
1) Recruiting Pipeline 2) Source of Hire 3) Time To Fill
• Recruiting Analytics Reference Guide • 13 Most Common Hiring Process Bottlenecks & How To Correct Them
4) Mini Scenarios 4-19
© Copyright 2018 SilkRoad
MEASURES OF RECRUITING SUCCESS Key Performance Indicators (KPIs)
Quality of Hire 2018 Metrics
Source Strength
Applications to Hires Ratio New vs Replacement Hires Onboarding Experience Resource: www.td.org
© Copyright 2018 SilkRoad
MEASURES OF RECRUITING SUCCESS Quality of Hire • Employee retention • Hiring Manager satisfaction • Cultural fit • Employee engagement • Job performance
Source Strength • How many new hires come from each source • Average retention for each source • Measure not just THE WHAT, but THE WHY of your best talent pools
Applications to Hires Ratio • The number of applicants you receive vs. the number of individuals hired • Few applicants per hire vs too many applicant per hire?
New vs Replacement Hires • Are your new hires a consequence of true company growth or employee turnover?
Onboarding Experience • First 90 days of employment • Strong onboarding programs improve retention by 82% • Survey new employees and hiring managers Resource: www.td.org
© Copyright 2018 SilkRoad
Recruiting Analytics & Reports What is it? What will it do for me? How do I get the reports? © Copyright 2018 SilkRoad | All Rights Reserved © Copyright 2018 SilkRoad
Recruiting Analytics • Analytic Reports • Mobile Friendly • Data pulls from your SilkRoad Recruiting
© Copyright 2018 SilkRoad
Recruiting Analytics • 19 Reports • • • • • • •
Recruiting Pipeline Source of Hire Time To Fill Recruiter Performance Location Reports Candidate Experience And more…
© Copyright 2018 SilkRoad
HOW CAN I GET IT? Because you are here at Connections… you now have these analytic reports! Visit the Knowledge Lab to schedule time to configure & enable your solution
© Copyright 2017 2018 SilkRoad | All Rights Reserved8 Reserved
Demo SCENARIO #1 Turn To Page 2 (Scenario 1) © Copyright 2018 SilkRoad
Reference Guide
ICONS (TOOLS) Expand Hierarchy
Drill Up
Focus Mode
More Options
Toggle Mode On/Off
Drill Down All
Clear Filters
© Copyright 2018 SilkRoad
RECRUITING PIPELINE REPORT • Most Used • Optimize Recruiting Processes • Filter by Job • Average # days candidates remain in each stage
• Red flags? Bottlenecks?
© Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE
2
My Focus
What I Know
•
•
Takes too long to review resumes between recruiters and hiring managers
•
Losing qualified candidates due to gaps in our recruiting process
•
I want to find:
•
Optimize recruiting processes 2 open positions for Sales Managers
• • • © Copyright 2018 SilkRoad | All Rights Reserved
Causes for slowdowns? Where are the red flags or bottlenecks? Best strategies to make improvements?
SCENARIO 1: RECRUITING PIPELINE
31 total candidates applied for the Sales Manager job
© Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE A. Strengthen the strategy for building and engaging your talent pools (active and passive candidates) B. Improve how you use your ATS communication tools to streamline and accelerate your recruiting process to increase the sense of urgency C. Implement the easy apply option (online quick apply form) on your career site D. Improve your career site (visual appeal) and include an application form (quick to complete) E. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description. F. Improve the structure of your Employee Referral Program to help engage current employees © Copyright 2018 SilkRoad
SCENARIO 1: RECRUITING PIPELINE
B. Improve how you use your ATS communication tools to streamline and accelerate your recruiting process to increase the sense of urgency
E. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description.
What are some bottlenecks that may exist? © Copyright 2018 SilkRoad
GROUP WORK SCENARIOS Turn To Page 3 (Scenario 2) © Copyright 2018 SilkRoad
WHAT DOES SOURCE OF HIRE MEASURE? • Shows what percentage of your overall hires entered your pipeline from each recruiting channel or source (e.g., job boards, referrals, direct sourcing). • Helps you distribute your hiring resources to the most effective recruiting channels which may result in:
• Direct more resources to the most valuable channels (e.g., referrals) • Drop or adjust consistently lagging sources (e.g., campus recruiting)
• Allocate your recruiting budget more effectively and refine your processes.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE
Applicants by Source Export to Excel
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE
3
My Focus
What I Know
• Compare 4 outside sources • Conversion rate per channel • Evaluate each sourcing channel
• Decline in quality of Sales Manager candidates • I want to evaluate: • Best strategies to make improvements • Current recruiting methods that focus on attracting passive job seekers • Allocation of the recruiting budget
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 1: Compare the following resources. Complete the table.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 2: Compare sources when hiring Sales Managers.
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 3: Which resource yields the highest hire rate for Hiring Manager, William Martin.
© Copyright 2018 SilkRoad
How To Calculate Ratios
© Copyright 2018 SilkRoad
What Are Recruiting Ratios? Hiring Process Efficiency
Stage Pass Rate %
Hire Rate & Pay Off
• Shows the efficiency of your hiring process. • The more the ratios decrease over time, the more efficient your process becomes.
• Shows the percentage of candidates pass from one stage of the hiring process to another.
• Measures how many candidates were hired from a total number of applications. • Are your external recruiting efforts paying off?
Other Helpful Reports: Pipeline, Time To Fill, and Candidate Experience. © Copyright 2018 SilkRoad
Recruitment Yield Pyramid
Calculate A Recruiting Ratio Other Reports Pipeline & Candidate Experience
Ratio
Return Rate
5:1
20%
5 2nd Interviews
3:1
33%
15 1st Interviews
2:1
50%
30 Hiring Manager Review
4:1
25%
120 Resume Screening / Calls
2:1
50%
1 5 = 20% 5 15 = 33% 15 30 = 50%
30 120 = 25%
120 240 = 50%
X 100
1 Offers
240 Applications © Copyright 2018 SilkRoad
Compare Recruiting Sources Low Ratio = Efficient Process
Source
Candidates
Hires
Return Rate %
Ratio
Job Boards
300
12
4%
25 : 1
Agencies
45
3
6.6%
15 : 1
Referrals
50
10
20%
5:1
10 Hires 50 Candidates (x100) = 20% 50 Candidates 10 Hires = 5 : 1 © Copyright 2018 SilkRoad
CONVERSION RATE Are your recruitment strategies and sources effective? www.td.org
Interviews Applicants (x100) = Interview Return Rate % Hires Interviews (x100) = Hire Return Rate % #Offers Extended #Accepted (x100) = Offer Acceptance Rate %
Note: If your OAR drops to 30%, your hiring process is in trouble. © Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 1
TRY THIS! Calculate the Interviews to Hires ratio on your own! Interviews Hires = Ratio
Hires Applicants (x100) = Return Rate %
Applicants Hires = Ratio
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE SLICE 3
TRY THIS! Calculate the Interviews to Hires ratio on your own! Interviews Hires = Ratio
Hires Applicants (x100) = Return Rate %
Applicants Hires = Ratio
© Copyright 2018 SilkRoad
SCENARIO 2: SOURCE OF HIRE A. Improve how job descriptions are written. Are they clear and concise? Do they draw them in and is it compelling? B. Improve your recruiting methods that focus on attracting passive job seekers. C. Review your recruiting budget to ensure that you are spending in the most effective recruiting channels. D. Improve your career site (visual appeal) and include an application form (quick to complete). E. Improve the structure of your Employee Referral Program to help engage current employees. © Copyright 2018 SilkRoad
GROUP WORK SCENARIOS Turn To Page 4 (Scenario 3) © Copyright 2018 SilkRoad
WHAT DOES TIME TO FILL MEASURE? • The number of days between posting a job and offer accepted.
• A critical metric that is used to inform more accurate planning. • An indicator that your job marketing isn’t working or that you’re not sourcing fast enough. • Provides information about your company growth and hiring needs. • Learn to budget time more effectively in planning your hiring needs. • Enables proactive hiring (e.g., It helps us plan ahead and get started in time to have a new hire in place and fully trained to carry out his/her workload) © Copyright 2018 SilkRoad
TIME TO FILL REPORT
Export to Excel
© Copyright 2018 SilkRoad
4
SCENARIO 3: TIME TO FILL My Focus
What I Know
• Support Services Dept • Houston area • Evaluate number of days to fill jobs in this department • Compare effort levels to fill different skill sets/positions and set appropriate expectations for recruiting process duration
• Some positions fill more quickly • I want to find out: • What is working well? • Red flags? Bottlenecks? • Current recruiting methods that focus on attracting passive job seekers • Best strategies to make improvements © Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL SLICE 1: # of days it takes to fill jobs within the Support Services Dept.
© Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL SLICE 2: Look at all the Support Services jobs in Houston Texas.
© Copyright 2018 SilkRoad
SCENARIO 3: TIME TO FILL A. Improve how job descriptions are written. Are they clear and concise? Do they draw them in and is it compelling?
B. Improve your recruiting methods that focus on attracting passive job seekers.
C. Improve your career site (visual appeal) and include an application form (quick to complete).
D. Improve communications between HM and Recruiter in regard to how job descriptions are written. For example, recruitment was done before validating the job description.
E. Improve the structure of your Employee Referral Program to help engage current employees © Copyright 2018 SilkRoad
Reminders! Engagement Center
Training
Office Hours
Video Library
Free Classes
Free
What’s New
MWSR Schedule
Training Q&A Just For You 1:1 © Copyright 2018 SilkRoad
