The Measure of Success

Head2Head< itle><br/><meta http-equiv"Content-Type" content"text/html; charsetiso-8859-1"><br/></head><br/><br/><body><br/><br/><A HREF"http://bmail.ca/s2f/55/1293/">Send this article to a friend</A><BR><br/><A HREF"http://www.bettermail.ca/m/55/1293/">View original HTML version</A><BR><br/><A HREF"http://www.twominutementor.com">Receive Articles like this every second week</A><br/><br/><p>You cannot manage well what you do not measure. If you want to break into<br/><br/>the ranks of world-class recruiting, you simply must collect and analyze activity<br/><br/>metrics. As you build an archive of information, your data will help you identify<br/><br/>areas for improvement. Your data will also take you beyond the traditional recruitment<br/><br/>role and help you demonstrate your position as a cutting edge-contributor focused<br/><br/>on your company's bottom line.</p><br/><p>If you've never tracked metrics before, you'll first need to collect<br/><br/>some initial data as a benchmark. Over time, you can then look for areas to<br/><br/>improve, implement changes and re-measure.</p><br/><p>Measuring your activity does not have to be a complex endeavour, nor does<br/><br/>it require sophisticated software. All it takes is a few simple spreadsheets<br/><br/>to log the data you collect. </p><br/><p>The three main areas of metrics you should know and track are:</p><br/><BR><br/><P><B>Cost per hire</B><br/><UL><br/><br/><LI>Where did you find your candidate? How much did you pay to access the source?</LI><br/><br/><LI>How much was offered as a signing bonus, if any?</LI><br/><br/><LI>How much staff time did it take to make the hire? How much does this equal<br/><br/>in dollars?</LI><br/><br/><LI>How much management time did it take to make the hire?<br/><br/><LI>How much processing time was involved?</LI><br/><br/><LI>Were there any travel or relocation costs incurred?</LI><br/><br/><LI>What other expenses were incurred?</LI><br/></UL><br/></P><br/><BR><br/><P><B>Quality</B><br/><UL><br/><br/><LI>How many hires are still with the company after 1 year?</LI><br/><br/><LI>How many hires were promoted within 1 year?</LI><br/><br/><LI>What are the job performance ratings of those hired?</LI><br/></UL><br/></P><br/><BR><br/><P><B>Time to fill</B><br/><UL><br/><br/><LI>What date did you receive the job requisition?</LI><br/><br/><LI>What date did you fill the job?</LI><br/></UL><br/></P><br/><BR><BR><br/><U><B>This month's recruiting headlines:</B></U><br/><br/><p>Best Practices Talent Scouts<BR><br/><br/><A href"http://www.industryweek.com/currentArticles/asp/articles.asp?ArticleId1531">Read this article</A><BR><BR><br/><br/>The Branded Hiring Process<BR><br/><br/><A href"http://www.erexchange.com/articles/db/9E5C9700031B431CA2638DA4063AF05F.asp">Read this article</A><BR><BR><br/><br/>Resume Blunders<BR><br/><br/><A href"http://resume.monster.ca/dosanddonts/badresumes/">Read this article</A></P><br/><BR><br/><P>Head2Head is a brave new concept in the world of recruiting. We don't fill<br/><br/>positions, but we find the people who do. In other words, we connect talented<br/><br/>recruiters with dynamic corporate environments to create effective in-house<br/>recruitment programs. Visit us at <A HREF"http://www.head2head.ca">www.head2head.ca</A><br/></P><br/><P><br/>Signup for the Two-Minute Mentor, our bi-weekly recruiting newsletter: <A HREF"http://www.twominutementor.com">www.twominutementor.com</A><br/><br/></P><br/><BR><br/><BR><br/><br/></body><br/></html><br/><br/><p> About the Author <p>Head2Head is a brave new concept in the world of recruiting. We don't fill positions, but we find the people who do. 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