Today’s talent acquisition teams are operating in a demanding environment. Unemployment is at a historic low and the competition for skilled professionals exceeds supply. To be successful, recruiting organizations should be lean and structured while focusing on process, measurement, and communication.
Shauna Geraghty, Head of Talent at Talkdesk, shares how her team defines their analytical strategy by measuring:
Efficiency - funnel and hiring metrics
Effectiveness - hire quality, referrals, and manager feedback
Candidate Experience - candidate feedback and new hire surveys
Planning for Success: Setting Your 2018 Recruiting Metrics and KPIs Strategy
1. Planning for Success:
Setting Your 2018
Recruiting Metrics
and KPIs Strategy
Shauna Geraghty
Head of Talent at Talkdesk
Daniil Karp
Director of Marketing at Teamable
2. Meet the Presenters
Shauna Geraghty
Head of Talent at Talkdesk
First U.S. employee at Talkdesk
Doctorate in Clinical Psychology
Daniil Karp
Director of Marketing
Teamable
6. SCALE YOUR BEST SOURCE OF QUALIFIED CANDIDATES
Drive referrals Source passive
candidates
Seamlessly
integrates with
your ATS
7. Meet Talkdesk
Cloud contact center platform
Founded in 2011
$24.5M in funding through Series A
300 people in SF, Lisbon and Porto
Hypergrowth (10x YoY)
8. Talent at Talkdesk
Reports to COO
Strategic business partner and service organization
Aggressive headcount goals
○ 100 engineers within a year
○ 80 in SF with 30% senior talent (director and above)
Team
○ SF: Head of Talent, 4 full cycle recruiters, 2 sourcers and 1 talent operations
○ PT: Head of Talent, 7 full cycle recruiters
9. 3 Pillars of Talent at Talkdesk
Optimize efficiency >> increase velocity
○ Standardize interview process
○ Control for variables
Optimize effectiveness >> make most informed hiring decision
○ Include bar raisers
○ Standardize interview questions
Optimize candidate experience >> enrich our Talent Community
○ Eliminate candidate-initiated dropoff
○ Promote Talkdesk brand
>>>>>>> all help us hire top talent
10. Defining the Metrics and KPI Strategy
Consider the needs of all stakeholders:
Executive team
FP&A
Hiring managers
Recruiters
Sourcers
Candidates
Employees
Head of Talent
11. Defining the Metrics and KPI Strategy
Consider important influencers:
Company culture
and values
Most emergent needs
of the company and team
Strategic Initiatives Goals and areas of focus
for that time period
12. Defining the Metrics and KPI Strategy
Structure data based on the audience and their needs
○ Unique reports for unique stakeholders
Examples: pipeline report for hiring managers, candidate survey results for Talent
Operations, hires to goal MoM for FP&A and quality of hire for executive team
○ Define a unique reporting cadence for each stakeholder
Examples: weekly pipeline reviews with hiring managers, headcount planning meetings
twice per month with executive team and FP&A, quarterly summaries to talent team and
executive team, weekly prospecting and funnel metrics for talent team meeting
13. Talkdesk Metrics and KPIs
Based on 3 Pillars of Talent at Talkdesk:
Optimize Efficiency Optimize Effectiveness Optimize Candidate Experience
Standardize Interview Process
Control for Variables
Include Bar Raisers
Standardize Interview Questions
Eliminate Candidate-initiated Drop Off
Promote Talkdesk Brand
14. Talkdesk Metrics and KPIs
- Efficiency
Number of hires
○ Hires by department, recruiter, sourcer,
hiring manager, source, inbound source,
referral source and time period
○ Hires to goal
15. Cost per hire
Cost per hire = (Cost per source + (talent team salary +
.25*talent team salary) + referral payouts) / number of hires)
Total savings
Total Savings = (Annualized salaries of new hires *.2) - (total
cost)
Talkdesk Metrics and KPIs
- Efficiency
16. Talkdesk Metrics and KPIs - Efficiency
Funnel metrics
○ Prospecting activity
Emails sent, number of conversions, number of hires and quality (number of added
prospects that converted to hires)
○ Conversion rate throughout funnel
Fed into capacity model
Helps define headcount on talent team
Serves as guidepost for defining hiring priorities
18. Talkdesk Metrics and KPIs - Effectiveness
Magic number
○ Candidate quality * difficulty
Quality determined by performance relative to team or peers
New hire data is pulled from average tribal score
Difficulty determined by factors such as seniority, talent pool, recruiter level of
involvement in process
○ Quarterly target is 100
20. Talkdesk Metrics and KPIs - Effectiveness
Hire quality by source
○ Average hire quality by source (and inbound source)
Offer acceptance rate
○ Percentage of written offers submitted to candidates that are accepted
○ By recruiter, hiring manager and role
○ Aggregate rejection reasons and create action plans
21. Talkdesk Metrics and KPIs
- Effectiveness
Employee retention
○ 90 days vs. 365 days
○ Churn within 90 days is mis-hire
Referrals
○ Total employee referrals
○ Percentage of new hires from referrals
Business outcomes measures
○ Customer retention, customer satisfaction,
revenue per employee and ROI on
workforce expenditures
22. Talkdesk Metrics and KPIs - Effectiveness
Hiring manager feedback
○ How satisfied are you with:
The recruiter’s understanding of the job requirements and your hiring needs?
The quality and quantity of candidates presented to you for hiring manager phone screen?
The candidate's preparation for the interview and level of excitement about the role?
The assessment and screening of the candidates by the recruiter?
The quality of new hires that you and this recruiter brought to Talkdesk?
○ How would you rate the effectiveness of communication between yourself and the recruiter throughout the
hiring process?
○ Would you like to work with this recruiter again?
23. Talkdesk Metrics and KPIs - Effectiveness
Talent Team Self-Evaluation and Performance Evaluation
Anchors:
5 - Exceptional - Performance is consistently superior and exceeds position requirements
4 - Above Average - Performance frequently exceeds position requirements
3 - Average - Performance consistently meets position requirements
2 - Below Average - Performance meets some but not all position requirements
1 - Poor - Performance consistently fails to meet minimum position requirements; employee lacks
skills required or fails to utilize necessary skills
N/A - New or Not Applicable - Employee has not been in a position long enough to have
demonstrated the essential elements of the position and will be reviewed at a later agreed
upon date
24. Talkdesk Metrics and KPIs - Effectiveness
Talent Team Self-Evaluation and Performance Evaluation
Constructs:
Quality of Hires
The quality of hires was at (“Average”) or exceeded (“Above Average”) the quality of the current team. This was assessed by: tribal
score, manager performance evaluation, quantitative performance and voluntary/involuntary turnover within first year of employment.
Quantity of Hires
Recruiter consistently met (“Average”) or exceeded (“Above Average”) their target of two hires per month.
Hiring Manager Satisfaction
Satisfaction of hiring manager with results. This was assessed by hiring manager evaluation form (understanding of job requirements
and hiring needs, quality and quantity of candidates/hires, candidate preparation, assessment of candidates and communication).
25. Talkdesk Metrics and KPIs - Effectiveness
Talent Team Self-Evaluation and Performance Evaluation
Constructs:
Candidate Experience
Candidate satisfaction with the interview experience. This is assessed by: candidate survey results, direct observation and qualitative
feedback provided to Head of Talent.
Greenhouse Data Integrity
Quality and completeness of data within Greenhouse. This includes: stage changes, notes, quantitative anchors, scorecard constructs,
profile data (CV, referral source, contact information) and hiring team scorecard submissions.
Effort
Sustained and focused effort. This includes: productivity, initiative and continuous improvement.
26. Talkdesk Metrics and KPIs - Effectiveness
Talent Team Self-Evaluation and Performance Evaluation
Constructs:
Prioritization of Time
Prioritization of time and effort. This includes: planning, organization, efficiency, task completion timeliness, adhering to hiring priorities,
aligning efforts with the company and maintaining healthy funnel metrics.
Process
Adherence to the established Talent process. This includes: prospecting (quality of outreach, cadence and funnel quality), interview
structure and tribal structure.
Professionalism
Professionalism within the role. This includes: reliability, responsiveness, integrity, accountability, collaboration, attitude, receptiveness
to feedback, verbal and written communication and formulation of business relationships.
27. Talkdesk Metrics and KPIs - Candidate Experience
Candidate feedback
○ Qualitative and quantitative
○ Data segmented by department, hiring manager, recruiter and role
○ QoQ and YoY
29. Talkdesk Metrics and KPIs - Candidate Experience
New hire surveys
○ 30 days after start
○ Feedback about interview and onboarding process
New hire focus groups
○ Representative sample
○ Feedback is coded and analyzed
30. Summary
When designing your KPI and metrics strategy, consider the needs of:
○ Key stakeholders
○ Main influencers
Company culture and values, most emergent needs of the company and team, strategic
initiatives, goals or areas of focus for that time period
Structure data based on:
○ Key stakeholder and their needs
○ Cadence of presented feedback
31. Summary
Talkdesk metrics and KPIs are structured around “3 Pillars of Talent at
Talkdesk” - Efficiency, Effectiveness and Candidate Experience
○ Efficiency
Number of hires, cost per hire and funnel metrics
○ Effectiveness
Hire quality, offer acceptance rate, employee retention, referrals, business outcomes
measures, hiring manager feedback and performance evaluation
○ Candidate experience
Candidate feedback, new hire surveys and new hire focus groups
32. Summary
An effective recruiting metrics and KPI strategy:
○ Creates alignment towards a shared goal (optimize 3 pillars >> hire top talent)
○ Increases awareness of Talent Team process, priorities and performance
Positions ourselves as a strategic business partner to hiring managers and a top
performing team within the organization
○ Facilitates workforce planning and drives company strategy
33. Action Items
1. Make a list of all metrics that you track over time
2. Ensure that your metrics are comprehensive or fill in gaps
a. Create a list of all key stakeholders and group metrics under each
b. Create a recruitment funnel and group metrics in each segment
c. Create a list of all important influencers and group metrics under each
3. Structure dashboards and reporting cadence based on step 2
4. Create a framework for your metrics and KPI strategy
a. Group metrics within concrete categories that align with areas of focus for your team
5. Regularly reevaluate your recruitment metrics and KPI strategy
35. A BETTER WAY TO DRIVE REFERRALS
70% average
company-wide
adoption rate
Seamlessly
integrates with
your ATS
System of record
for referrals
Employee Side
36. A POWERFUL SOURCING TOOL
Source
candidates
across the major
social networks
1,000
connections
added per
employee
Advanced search
functionality
Recruiter Side
37. Engage employees to proactively refer candidates in their
networks.
Empower your team to identify passive candidates connected to
current employees.
Optimize and track employee referral flows.
HOW TEAMALBE PARTERNS WITH RECRUITERS
1
2
3
39. Talkdesk is Hiring!
We are hiring for all teams across three locations
Apply at www.talkdesk.com/jobs/
Contact shauna@talkdesk.com for more information