The latest Talent Forecast from Korn Ferry’s Futurestep division found that in today’s candidate driven market, hiring professionals are most likely to measure their success in three key areas:-
- Time to hire
- Retention of new hires
- Performance of new hires after 18 months
How does your business measure up?
Time to hire : The most important hiring metric?
Your time to hire is perhaps the most important metric in understanding what’s preventing you from sourcing talent. Slow hiring jeopardises your ability to source talent. The top 10% of qualified candidates disappear from the job market within 10 days. To capture the attention of that talent, your hiring process has to be streamlined, rapid, measured and effective. Recruitment analytics in HR software will confirm the average time it takes your hiring team to fill an open job, from the point of posting your vacancy to the day your new employee starts work. Without clarification on that key metric, filling vital roles is likely to be a problem for your business. More detail on how to analyse and improve the length of each step in your hiring process is provided in our previous article on time to hire.