Ever wondered what talent acquisition metrics you should track to hire faster, better, and more effectively? How about helping your recruiting team meet their targets?
If that’s a yes, we’ve outlined below some of the most important metrics you can use to improve your recruiting strategy.
What are Talent Acquisition Metrics?
Talent acquisition metrics are the standard measurements of success that enable your team to continuously meet your organization’s recruitment goals. These metrics can be combined to find the best candidate for the job while speeding up the recruitment process and reducing recruitment costs. Consequently, these metrics are a tool to leverage when evaluating how efficiently your company is attracting the right talent –while also retaining it. Continue reading
A major feature of AI for recruiting is its ability to stop unconscious bias.
A recent lawsuit reminds us why we need to avoid bias during hiring: Palantir, a software startup, is paying $1.7 million to settle a racial discrimination lawsuit with the Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP).
Similar to EEOC guidelines, as a federal government contractor, Palantir cannot discriminate based on race, color, religion, sex, sexual orientation, gender identity, national origin, disability or against military veterans.
The Department of Labor accused Palantir of disproportionately eliminating qualified Asian applicants for engineering positions. The lawsuit alleges Asian applicants were routinely eliminated in the resume screening and telephone interview phases despite being as qualified as white applicants. Continue reading
Diversity and inclusion in the workplace (D&I) is a term you’ve probably heard several times by now. The concept has continued to gain traction in the corporate world as its benefits have become increasingly clear.
Josh Bersin, leading industry analyst and researcher, calls diversity and inclusion one of the hottest topics of these few years. He has said that it is “not an HR program, but a business strategy. It is true that the “needle is driven by HR”; however, it is not enough for it to be solely an HR program.
Companies that embrace diversity and inclusion in all aspects of their business statistically outperform their peers. Continue reading
For almost a decade now, the use of artificial intelligence (AI) in hiring practices has gained incremental traction.
The overwhelming adoption of AI can be tied to its many benefits which center around making recruitment easier, more accurate, and efficient. AI enables recruiters and hiring managers to assess and interview candidates with much more ease compared to traditional methods. Research also shows that 96% of HR managers believe AI can improve talent acquisition and retention significantly.
For the last several years, finding the right candidate in high demand talent pools has been highlighted as one of the biggest obstacles to attracting top talent (LinkedIn Global Recruiting Survey 2016), and AI has evolved accordingly to help solve this problem. Continue reading
A supportive and rewarding employee lifecycle is important to a successful organization.
For HR departments, one way to create a positive cycle of employment is the use of technology. There are many steps within this cycle, and some of these have smaller tasks within them.
Technology assists with cultivating the best employee experience, from hiring to onboarding and termination. Within the HR team who deploys new technology, there have been instances where these tools help provide greater value throughout an employee lifecycle. At the end of the day, technology is helping businesses become more efficient with their employees.
The first part of the employee lifecycle is hiring. Continue reading
In today’s hyper-competitive labor market, the challenge of hiring and retaining the right talent keeps getting tougher by the day.
While high employee turnover leaves a bigger dent, an aging population could soon make the talent gap become larger. This spells an urgent need for better ways to attract and retain top talent. As the current recession caused by the COVID-19 pandemic continues to grip economies around the world, almost all industries have felt the pinch under the lockdown. The recession has not only a huge impact on the workforce but also the recruitment process.
Although many organizations have put their hiring process on hold until the economic downturns are over, some are still recruiting to prevent a business slowdown. Continue reading
Despite the popularity remote work has gained in North America over recent years, very few companies have fully enabled remote recruiting processes.
It’s interesting to think about how we’ve started to scale the idea of remote work, to the point that remote workers are saving money and potentially even saving the environment, but we have not scaled the idea of remote recruiting. Sure, you might hire someone from another city or geographic area, and a lot of that process may take place online — although eventually, you’re going to want any top candidates not in-market to come fly and meet your team in-person. Continue reading
Consider recruiting as a function in 2010. It was two years after a global recession and companies were just starting to ramp hiring back up again.
At the end of 2010, SHRM said HR would be a “power hitter” in 2011. It’s nine years later now, and the contribution of the HR function has drastically evolved.
What’s interesting now is that the entire profile of “what” exactly a recruiter is has evolved. LinkedIn did an end-of-2019 report on the future of recruiting, summarized by HR Technologist, and there are some important takeaways about the growth of recruiting and the shift of the profession to a much more data-driven and analytical one. Continue reading
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This point gets belabored probably way more than it should: we’re at an “interesting time” or “crossroads” in recruiting. In reality, people were putting that on their HR Tech slide decks in 2006. Because recruiting is a bedrock of getting the people you need both now and in the future, recruiting has to evolve (revolve) as the business does. The thing is, though: that’s happening, but the belief that it’s happening seems to always come largely from the broader HR/recruiter pool. Continue reading
Is job hopping necessarily a bad thing?
As we get better at using technology to augment the recruiting process, we also need to take some of the preconceived notions of recruitment and remove them from how we think and how we design our programs — i.e. what inputs our artificial intelligence programming is even looking for in prospective candidates. One of those preconceived notions is the idea that someone who “job-hops” is a bad choice, or a chaotic one. There is some nuance to this discussion, yes — some people who job-hop are less-stable employees. That’s true. But there are other factors to take into account. Continue reading
Imagine getting a job without ever talking to a real person. A computer analyzes your resume using AI, thinks you’re a good fit, then sends gives you a test assignment.
You complete the assignment and the computer takes a read. Based on its data-crunching, it believes you will do the job well. A job offer arrives via email the next day with and address to show up at for day one.
We’re not quite in that reality, but one part of the process is already here: AI reviewing resumes and making judgements on which candidates might be a good fit.
In the ‘good old days,’ hiring managers skimmed resumes quickly. Continue reading