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March 23 — “You can't rely on just experience and isolated data” to fill jobs in today's stronger economy, Greg Karr, executive vice president at Boston-based recruitment analytics company Seven Step RPO, said in a March 23 Human Capital Institute webinar sponsored by his company.
“Some of the traditional metrics like time to hire or interview to hire only tell part of the story” and don't necessarily help in deciding what steps to take, Karr said.
Instead, by combining “throughput” information from the organization's applicant tracking system (ATS) and candidate relationship management (CRM) system, hiring managers can determine, for example, whether a certain job advertising channel is producing viable leads for candidates who actually get interviewed and hired, and drop those that aren't working, Karr said.
Another type of analytic is a “step duration” report that can show where the bottlenecks are in the hiring process. In an example Karr provided on a slide, there was “a 10 to 15 day bottleneck in the hiring process to review and collect feedback on candidates. On average, hiring managers were taking too long to return feedback, eroding candidate experience and dramatically delaying time-to-hire.”
Letting candidates “sit around and wait” too long after submitting their application “is bad business, it's bad mojo,” Karr said.
It's essential to set measurements of success, Karr said, but there are many possible ones. Another slide he displayed gave such examples as time to hire, interview-to-hire ratio, e-mail advertising campaign click-through rates, new hire satisfaction and hiring manager satisfaction.
To choose the right platform for ATS, CRM or other functions, Karr suggested:
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