By Rich Bond
At a recent NPA Worldwide conference, I got into some conversations that surprised me. NPA Worldwide (www.npaworldwide.com) is an association of over 500 recruiting and search firms who work collaboratively.
Most recruiters (including me) are convinced they add value. But very few at this meeting had metrics to help them prove their case. They didn’t track their success rate through the kind of metrics I keep. That’s what surprised me.
The most common recruiting metrics I am aware of are “cost to hire” and “time to fill,” which seem to be awfully transactional and short-term oriented.
After an engagement, I stay in touch with the person I placed to see how he or she has done. That’s why I know that 50% of the people I placed are still with their companies five years later, and most of them have been promoted.
Furthermore, the financial people we have placed have added $100,000 to $100 million/year to companies’ bottom lines.
Most recruiters simply seem to be transactors, not individuals who want to help candidates with their careers long-term or enable their clients to significantly improve performance.
How do you measure hiring success?
