Placing the hiring process in a structured and measurable context will allow you to take decisions more confidently and to identify patterns for best practices.
Tracking sources, advertising, branding and applicant experience will improve recruiting effectiveness overall and often save you money.
Splitting the employment lyfecycle into smaller pieces allows tracking patterns that you never expected to correlate with retention.
On-boarding is one of the least measured parts of hiring. Yearly appraisals evolve to continuous feedback - new metrics are needed to stay on top of the situation.
What are the main drivers behind our mission? Examples include the number of applicants per position, number of hires per source, people that passed the second interview. The simpler they are, the easier will be to use them later on.
Human resources is a people driven matter and this is the number one reason for employing custom metrics. This is the only approach towards quality results.
All these metrics will be stored in a data lake (that is nothing more than a database, which in many cases starts with a simple spreadsheet).
Next: Building the data lake
We will have to come up with a system to gather relevant metrics (from previous and/or future events).
In most cases it will be a combination of the above.
Talent analytics is particularly effective because upper management speaks the same language (Key Performance Indicators).
Predicting talent requirements ensures focus of attention on highest-value current talent sources and to identify potential new sources to support growth.
Your business preserves its ability to retain top talent by diagnosing attrition and identifying cost effective approaches.
Provide quantifiable, quality, data for HR to evolve as a strategic partner to the business.
Continuous optimizations of HR processes through evidence based decision making including increased transparency and accountability.
Use relevant metrics to optimize and monitor factors that impact and drive employee lifetime value.
Data trumps gut feeling for decision making. Often, the root cause of the problem is actually the lack of metrics / tracking throughout the employment lifecycle.
Years of experience in Applicant Tracking and Employee Management Systems for the US services industry - system design and customization to 50+ client use cases in a 100k people system. As a freelancer, I successfuly recruited hundreds of IT professionals for small projects.
My office is often in an arts gallery and this helps especially when I work as a consultant with teams in IT and management.