fot webinar - 6 ways to make your recruiting metrics more strategic

Upload: fistful-of-talent-fot

Post on 07-Oct-2015

315 views

Category:

Documents


0 download

DESCRIPTION

Let's face it - the recruiting metrics you use at your company are either non-existent or stale. Sure, you tried to roll out the basics - time to hire, cost per hire - but all that did was put the focus on your HR/Recruiting function, not the people who actually make the final hiring decision. Flash forward 12 months since the launch of those basic recruiting metrics, and you're bored... heck, everyone's bored.Never fear! The FOT webinar makes it's 2015 debut with Six Ways to Make Your Recruiting/Talent Metrics More Strategic – And Make Managers Own Their New Hires.

TRANSCRIPT

FIGURING OUT THE BIG FIVE FOR THE SPOTS ON YOUR TEAM

1

How to Participate TodayOpen and close your PanelView, Select, and Test your audioSubmit text questions and join in the conversation in the chat boxFollow on the back channel via Twitter using the hashtag, #ChequedQ&A addressed at the end of todays session please ask them in the questions box

#Chequed

2

Presenter Info

Kris DunnCHRO at Kinetix (RPO, Recruiting)Founder of Fistful of Talent , The HR Capitalist Hoops JunkieDawn BurkeVP of People at DAXKOTV Binge Watcher (House of Cards)Contributor at Fistful of Talent

#Chequed

3

4

1

#Chequed

6

HR/Recruiting/Talent Departments UNITE:

Why do we have to end up holding the bag?

7

8

9

10

Where is the HR connection to Big Data? This is just a start, and this is data that you probably already have, or at least most of it but the key to it all is the last bullet all this data doesnt necessarily make us any smarter by itself or increase the amount of Truth in the world11

12

HR/Recruiting/Talent Pro (In bandana) when Lukewarm Turnover/Recruiting Report comes out

13

POLL QUESTION #1:

How many times a year do you take responsibility for data that really shows someone elses problem?

14

2

#Chequed

15

What Went Wrong?

Were measuring things and reporting them like were in 100% control But were not.

16

TurnoverWhat we traditionally report on:Turnover as a percentage of headcountSometimes its annualized, sometimes its notWhat we forgot to mention:We could stack rank whos doing well and whos not, and the lowest turnover isnt always the best departmentWhat we wont say out loud:Contrasting good and bad turnover is often a rationalization for managers who make bad hiring decisions

18

Time to FillWhat we traditionally report on:How many days it takes us to fill a jobWhat we forgot to mention:Hiring manager delays on resume and interview feedback are chronic problems in most organizationsWhat we wont say out loud:It would be helpful if you knew what you wanted and had realistic expectations on what to pay

19

Cost Per FillWhat we traditionally report on:How much it costs on average to fill a jobWhat we forgot to mention:What gets included in the calculation is both arbitrary and misleading in most circumstancesWhat we wont say out loud:We find it amusing when you squawk about allocated costs and then pop 30K for a single search

20

POLL QUESTION #2:

Which traditional Recruiting/Talent metric are you most routinely hung out to dry for?

21

3

#Chequed

22

The Answer:

Interrupt the Pattern and Start Including Metrics That Measure Others(Lets start by throwing something in that measures the effectiveness of managers in hiring and turnover prevention)

23

Hiring Manager Batting AverageHave you ever had a hiring manger who:Was awful at interviewing and making hiring decisions, and/or;Couldnt keep good talent once she onboarded it?You know who your best hiring managers are in interviewing, marketing the company to candidates, making the right offer and giving them what they need once theyre part of the teamIt only stands to reason you should be reporting on that

24

How to Calculate Hiring Manager Batting Average (HMBA)On HMBA A miss is a missUse the rolling stats of at least a years worth of dataUnlike raw turnover reporting, HMBA gets to quality of interviewing, quality of match (not overshooting or undershooting) as well as micro-culture considerations on individual teamsTHE FORMULA /Want to launch this piece of big data? Go back over the last 3 years of hiring data and put it together. If you want to be PC, report it out by department, then report the actual HMBAs to the department head, along with your recommendations, of course

25

Need More Metrics That Evaluate a Managers Ability to Manage People?

26

#1 Turnover Prediction#1 all-time post on the HR Capitalist Turnover CalculatorMost of us are reporting turnover, but were not predicting it.Reporting turnover is a start.Turnover is the biggest lever you have to getting organizational change that is friendly to talent often from leaders that are hostile to HR and recruiting.Always start any data play using turnover with no less than a years worth of data.

28

3 Ways to Experiment with Turnover PredictionProject Turnover for Next Month/Quarter based on annualized run rates.Pick the variable(s) you think has the most juice and add it as an influencing factor (example You think a mix of age, tenure, comp-ratios and size of last increase impact turnover. You study and implement it into your reporting.) Note that the best way to find influencing factors is to study whats happened in the past.Buy a solution that has a turnover predictor (starting to trickle into marketplace)

29

#2 Salary Cap UtilizationWhen it comes to managing headcount dollars and FTEs, there are 3 universal truths:HR Departments report FTEs more than they report $$$Business leaders long for max autonomy. FTE reporting is the opposite of thisMost people are familiar with the sports world concept of a salary cap.In moving to reporting on company and departmental salary caps, smart HR departments focus on flexibility and consultative solutions, which make them an assassin instead of a cop.

30

How to Report Headcount Via Salary Cap UtilizationSalary Cap (per department or by manager with large spans of control) = Budget Salary Dollars for month/year (recommend month to month breakout)Salary Cap Utilization = % of Salary Cap spent for monthReport month and chart trend. Report headcount if needed but eliminate budgeted headcount just report actualsCall it the Salary CapMakes HR consultative via flexibility with the following topics merit increases, equity increases, offers above budgeted amount, retention of high priced talent vs. performance expected, etc.Can you reinvent your department with the same cap number?You want to do something new? What are you willing to give up?You want to give an average of 8% on merit increases in your department? Are you willing to lay people off to do it? Will your business run the same? What will you get back related to performance?Advanced Play Turnover Factor baked in to reduce salary cap for open position float.

31

#3 Revenue Per Employee (RPE)Think all the talk about a set of 20 metrics is white noise?Cut to the chase and report the biggest data lever you have at your disposal Revenue Per Employee (RPE)RPE seamlessly merges whats most important to most of you the performance and effectiveness of people with whats most important to the people who employ you the financial health of the business as noted by top-line revenue.Use to drive attention and partnership with any autonomous business unit or product line delivering significant revenue.Best practice in presentation appears to the left bar chart for total headcount with line graph of revenue per employee.

32

Ways To Use Revenue Per Employee (RPE) To Do Your HR Bidding (evil laugh)Is RPE going up or down in various divisions/product lines/territories? Why?What do you believe in from an organizational performance perspective as a HR/recruiting pro? Performance Management? Training? Tech Deployment? Better hiring? Better firing?What you believe in becomes your angle as an organizational consultant to the leaders of your company. If we want RPE to go up with the same or added headcount, heres what we need to doRPE (just like turnover, HMBA and Salary Cap utilization) is about the state of the business and what you can do to fix areas that indicate they are broken. Its not about HR metrics.

33

POLL QUESTION #3:

Which one of the 4 new metrics we just covered do you see the most potential with at your company?

34

4

#Chequed

35

4 More MetricsTo show your hiring process actually prevents bad hires.

36

Bonus Metric #1: Funnel ReportingFunnel Reporting means you report the total number of applicants, phone screens, live interviews, offers and hires.If you dont report on this, most managers have no idea of the volume flowing through your ATS.You should take credit for dealing with that volume in an efficient way that nets new hires.Of course, you have to be able to explain low volume searches

37

Bonus Metric #2: Screened Out On ReferencesThe number of candidates who were screened out (post interview) as a result of poor feedback/reference scores.Ask yourself the question Have you ever said no to someone due to references?If the answer is no or Maybe a couple of times, you might want to check on how you are doing references

38

Bonus Metric #3: Passive Pipeline GrowthYou adjust your recruiting funnel to show uniquely sourced candidates, which are the ones the recruiters had to go out and findHunting vs. FarmingShows you hunt as a recruiting teamAlways interesting to see where the hires come from active or passive sources

39

Bonus Metric #4: The Screen/Show/Hire StatementA great way to provide an executive summary of all hiring activity is the following kind of statement:We screen 45 candidates, show you 6, you hire 1Non-HR people love numbersJust make sure yours look good

40

?

#Chequed

41

Thank you to our webcast sponsor:

42

Kris:[email protected]: @kris_dunnLinkedIn: www.linkedin.com/in/krisdunn

Dawn: [email protected]: @dawnHRrocksLinkedIn: https://www.linkedin.com/in/dawnhrdlica

43