Time to hire, cost to hire, attrition rate. There are plenty of really comprehensive lists of HR and hiring metrics available online. But are we using them to measure what matters? Do metrics such as employee turnover or length of service tell us the full story? Do they connect the success of your people strategy with success in achieving business objectives?
Or, are we simply assessing the success of our own recruitment processes? And in doing so, possibly talking only the language of HR, not the language of business?
All hiring metrics are not equal
We recently took part in an event hosted by the RL100 and our client Herbert Smith Freehills, during which we explored alternative ways of thinking about how assessment influences business outcomes. For Herbert Smith Freehills, the key to improving broader business metrics was better diversity in hiring and development.
As we’ve found through our own research, all recruitment metrics are not equal. Diversity in hiring is one of many important assessment outcomes that really does influence business success. From our own assessment data, and our work with clients, we’ve highlighted three of the most impactful metrics here:
Ideas for talent assessments that make a real business impact
Historically the metrics that were easy to measure are typically those that measured the performance of recruitment. But, even if it is, you might still not be making the best decisions. You can get a short time to hire by making poor decisions, you can generate high application numbers with poor-fit candidates.
But, if your process is working well at the organisational level, you’ll improve traditional recruitment metrics anyway as result. When we work with clients, we try to get them thinking about a range of business outcomes and we work this back to assessment design.
For example, you might want to consider:
In the latest paper in our Assessment Insights series, we pose some questions in a workbook format that you can use to shape your thinking about what you really want to get out of your assessment process.
To review your own approach to assessment through our workbook, and to read some of our showcase client stories on outcomes-led assessment, you can download the paper here.