If you were to ask a few talent acquisition professionals for their thoughts on recruitment metrics, you’d come across a pool of people who have varying amounts of experience applying data-driven insights to their tech hiring strategy. However, they'd probably all agree that even if they're not currently leveraging recruiting data, it won’t be long before they start. In fact, David Green recently told ERE he believes that in 10 years, analytics will be a staple part of recruiting and HR. Talent acquisition leaders who are newer to analytics often find themselves overwhelmed by the sheer number of data points available to them. Here are three tech recruitment metrics that will paint an accurate picture of how your team is performing, and where your hiring process could be optimized.
Analyzing your turnover rate probably seems like an exercise geared exclusively towards making you revisit the fact that you simply hired a slew of developers who weren’t capable of writing the quality of code you required. While it’s clear that a bad technical hire can have a dramatic impact on your bottom line, understanding why your developers are resigning is just as important.
No company is immune to losing a great developer to another opportunity, so focusing only on the number of people who have left your company is a futile activity, even if you narrow that down to a period of time. Ian Cook at Visier argues that it’s more valuable to look at the reasons for resignations that occur within three months of a developer’s start date, which could point to an organizational or cultural mismatch that should have been caught during the hiring process.
Nobody enjoys rehashing the details of a tech hire that would have been a great addition to the team, if only he or she had accepted the position. However, knowing the stories behind why top candidates have turned down your offers in the past can help you avoid losing a developer in the future.
Start by comparing previous rejected offers to current marketplace values. The obvious solution if your salaries are below market value would be to bring them up to industry standards, but all too often, developers aren’t made aware of the additional benefits that are included with an offer. If that’s not the issue, remember that developers say product details are the most important aspect of a new job. While developers also want to be compensated fairly, make sure your recruiters are also emphasizing the impact their work will have on the entire business.
With the pressure to hire developers as high as ever, it’s no surprise that source of hire is one of the most frequently ignored tech recruitment metrics. As Dr. John Sullivan told ERE, most recruiters are not involved in the selection of sourcing tools they’ll use on a daily basis while others will use the same resources over and over again because they’re familiar with those tools. As difficult as these points are to argue with, that doesn’t make it less crucial to know how your team is using the sourcing tools at their disposal.
This also does not mean that you should simply look at the number of hires you’ve made from each sourcing tool and make cuts based on which ones have been less effective. You should also be aware of which sourcing tools your team is using most frequently. If you’ve invested heavily in a sourcing tool that has gone largely unused, sit down with your team to understand why, especially if you’ve missed out on developers who typically don’t spend a lot of time on the platforms your team does use regularly.