Talemetry CEO Jade Bourelle and CTO Tim Lang and were featured in a blog post by Kyle Lagunas at the Brandon Hall group, “Is Technology the Key to Measuring Talent Acquisition Performance?”.
Lagunas examines how more companies are recognizing the value of talent acquisition data, and how companies can hire better and more efficiently by using technology to analyze that data. Old measures such as cost per hire are still useful, but companies are looking at new indicators such as quality of hire and time to proficiency.
The goals of talent acquisition are changing. As the economic uncertainty of the Great Recession slowly but surely fades, hiring organizations are shifting focus from near-term efficiency to long-term impact. While efficient process continues to be the cornerstone of success in talent acquisition strategy, today’s business leaders are placing stronger emphasis on the end results.
Not surprisingly, key measures of talent acquisition are also changing. Traditional metrics, such as time to fill and cost per hire, are still widely used but provide little insight into the efficacy of recruiting efforts. On the other hand, more modern measures, such as quality of hire and time to proficiency, are emerging as key performance indicators (KPIs) of talent acquisition today.
The problem is, these modern measures are often correlative in nature, and quantifiable data is difficult to track. And as the scope of talent acquisition continues to expand, measuring performance is only going to get more difficult.
Read the full article to find out more about the state of talent acquisition and how Talemetry can help optimize hiring resources.