Recruiting Metrics & How to Catch Big Fish
I hear a lot about metrics in recruitment. You can measure campaign activity, interview and hire stats from 100 angles. How else are you supposed to know if your search efforts are successful and effective?
You know when you stare at something for so long that you miss the important details? It’s the same thing with recruiting. I’ve had many clients claim that they just need a bigger funnel – more resumes! But if you focus solely on volume, you miss the aspects that set the right candidate apart. A successful recruiter will reduce the number of individuals introduced to a hiring manager, while reducing the time to find the ideal individual. This approach ensures a digestible amount of information and avoids burnout and interview fatigue. It requires a more clever targeting strategy, and more effort at the front end, but the results are worth it.
As a general rule at Artemis, we aim to introduce about 4 candidates within 3-4 weeks of kicking off a search. On average, an offer is presented to one of these first 4 interviewees. This is our key metric – time and quality. Successful headhunting is like a spearfishing, hitting the right target on the first shot, rather than casting a broad net and hoping to get lucky.
If you’ve met with a dozen candidates or are into month 2 or 3 of a search without seeing suitable candidates, something is going sideways.
Want to set yourself up to find an ideal candidate quickly? Here are a few things that we see in our most successful searches:
A Well-Defined Target
The company and hiring manager have a pretty good idea of who they are looking for. They know the strengths and challenges of their business, and have thought through what it’ll take for someone to successfully achieve the objectives.
The hiring manager is confident in their own ability to identify the best person when they meet them, and trusts the recruiter’s pre-qualification. This comes with experience and with spending time thinking through the profile. This will ensure that they don’t need to “date” a dozen people before knowing what great looks like.
Expectations are realistic. The ideal candidate really exists and would be excited to take this job.
The company and hiring manager have real motivation to fill the job, so the process can move efficiently. This seems obvious, but if the urgency to make a hire wanes and you lose momentum with great candidates, you’ll have a very tough time keeping regaining their enthusiasm.
Whether you are hiring or leading recruitment for a key role, your success depends on your ability to quickly get a great person onto the team. You need to know that you’re on track with every search. Set yourself up for a focused search and you’ll hit your mark.