Recruiting Woes: Is the Problem Speed, Quality, or Both?
If your firm is struggling to find quality candidates on a timely basis to fill your open positions, you’re certainly not alone. Staffing is a business of supply and demand; when supply is low (unemployment under 5%) and demand for talent is high, that’s typical. Still, clients depend on us to fill their positions, and when we’re not able to, we fret.
Recruiting is a game of speed and quality. Every key performance indicator is a measure of one, the other, or both. It helps to peel back the onion and understand exactly where the trouble spots are in our fulfillment organization. For this, we look to key performance indicators.
When it comes to Recruiting Key Performance Indicators (KPIs), most of us think of the typical things such as Time to Fill, Fill Rate, Submittals to Interviews, Interviews to Hires.
But there are many more KPIs which, if we measured, would give us great insight into our recruiter effectiveness.
Consider other indicators of speed, such as Time from Client Interview to Hire. Are your recruiters allowing the client to control the time between interview and offer, or are they doing everything within their control to ensure all the hard work they have done to get a candidate in front of a client is paying off? Candidates don’t hang around waiting for offers very long in today’s world. Your clients need to hear that message loudly and clearly from your recruiters so they act fast.
Then there are KPIs that are indicators of both speed and quality, such as % Offers to Rejected Offers. Maybe you’re team gets those submittals in within your required 24 hours but they’re skipping relevant steps such as ensuring the candidate is thoroughly briefed on all aspects of the position (quality). In this case, their speed is resulting in rejected offers because their candidates see the position differently once they really explore the opportunity.
Similarly, tracking the % of Contractors Lost to Negative Attrition could help you determine if your team isn’t explaining the position thoroughly – or worse, doesn’t understand the role.
Below is a listing of relevant KPIs. Track these and you’ll understand where you need to coach the team for improvement.
|Key Performance Indicator||Indicator of Speed||Indicator of Quality|
|Time from Job Order Receipt to First Submittal||X|
|Time from Submittal to Client Interview||X||X|
|Time from Client Interview to Hire||X|
|% Submittal to Interview||X|
|% Interview to Offer||X|
|% Offer to Hire||X|
|% Offers to Rejected Offers||X||X|
|% Total Reqs Filled||X||X|
|% Hot Reqs Filled||X||X|
|% Qualified Contractors Unassigned||X|
|% Contractors Completed Assignment||X|
|% Contractors Lost to Negative Attrition||X|
|% CTH Reqs Converted to Client’s Payroll||X|