The Measure of Success

Business Articles | December 18, 2003

... ... this article to a ... original HTML ... Articles like this every second weekYou cannot manage well what you do not measure. If you want to break into the ranks o

Head2Head< itle><br><meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"><br></head><br><br><body><br><br><A HREF="http://bmail.ca/s2f/55/1293/">Send this article to a friend</A><BR><br><A HREF="http://www.bettermail.ca/m/55/1293/">View original HTML version</A><BR><br><A HREF="http://www.twominutementor.com">Receive Articles like this every second week</A>You cannot manage well what you do not measure. If you want to break into<br> the ranks of world-class recruiting, you simply must collect and analyze activity<br> metrics. As you build an archive of information, your data will help you identify<br> areas for improvement. Your data will also take you beyond the traditional recruitment<br> role and help you demonstrate your position as a cutting edge-contributor focused<br> on your company's bottom line.</p>If you've never tracked metrics before, you'll first need to collect<br> some initial data as a benchmark. Over time, you can then look for areas to<br> improve, implement changes and re-measure.</p>Measuring your activity does not have to be a complex endeavour, nor does<br> it require sophisticated software. All it takes is a few simple spreadsheets<br> to log the data you collect. </p>The three main areas of metrics you should know and track are:<br><br></p><br><BR><br><P><B>Cost per hire</B><br><UL><br> <LI>Where did you find your candidate? How much did you pay to access the source?</LI><br> <LI>How much was offered as a signing bonus, if any?</LI><br> <LI>How much staff time did it take to make the hire? How much does this equal<br> in dollars?</LI><br> <LI>How much management time did it take to make the hire?<br><br> <LI>How much processing time was involved?</LI><br> <LI>Were there any travel or relocation costs incurred?</LI><br> <LI>What other expenses were incurred?</LI><br></UL><br></P><br><BR><br><P><B>Quality</B><br><UL><br> <LI>How many hires are still with the company after 1 year?</LI><br> <LI>How many hires were promoted within 1 year?</LI><br> <LI>What are the job performance ratings of those hired?</LI><br></UL><br></P><br><BR><br><P><B>Time to fill</B><br><UL><br> <LI>What date did you receive the job requisition?</LI><br> <LI>What date did you fill the job?</LI><br></UL><br></P><br><BR><BR><br><U><B>This month's recruiting headlines:</B></U>Best Practices -- Talent Scouts<BR><br> <A href="http://www.industryweek.com/currentArticles/asp/articles.asp?ArticleId=1531">Read this article</A><BR><BR><br> The Branded Hiring Process<BR><br> <A href="http://www.erexchange.com/articles/db/9E5C9700031B431CA2638DA4063AF05F.asp">Read this article</A><BR><BR><br> Resume Blunders<BR><br> <A href="http://resume.monster.ca/dosanddonts/badresumes/">Read this article</A></P><br><BR><br><P>Head2Head is a brave new concept in the world of recruiting. We don't fill<br> positions, but we find the people who do. In other words, we connect talented<br> recruiters with dynamic corporate environments to create effective in-house<br>recruitment programs. Visit us at <A HREF="http://www.head2head.ca">www.head2head.ca</A><br></P><br><P><br>Signup for the Two-Minute Mentor<a href="http://www.articlesfactory.com"><img src="http://www.articlesfactory.com/pic/x.gif" alt="Feature Articles" border="0"></a>, our bi-weekly recruiting newsletter: <A HREF="http://www.twominutementor.com">www.twominutementor.com</A><br><br></P><br><BR><br><BR><br><br></body><br></html>  <p class="txt-small-regular">Source: <a href="http://www.articlesfactory.com" class="small-link" title="Free Articles">Free Articles</a> from ArticlesFactory.com</p> <table> <tr> <td valign="top"><g:plusone size="medium" count="false"></g:plusone></td> <td valign="top"><div class="fb-like" data-send="false" data-layout="button_count" data-width="450" data-show-faces="false"></div></td> <tr> </table> <p> <h1>ABOUT THE AUTHOR</h1> <br> <div>Head2Head is a brave new concept in the world of recruiting. We don't fill positions, but we find the people who do. 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