Measuring Talent Acquisition Success in 2024: A Balanced Approach
At devlin talent, we’re taking a fresh look at how to measure Talent Acquisition success in 2024. While the classic metrics like time-to-hire and cost-per-hire still matter, today’s environment demands a more balanced approach. Success now requires a blend of hard metrics and softer measures that speak to the human element of recruiting. It’s not just about filling roles; it’s about cultivating relationships that fuel long-term growth.
Recruitment is both an art and a science. Yes, we lean heavily on data and market insights, but we also recognize the power of storytelling and the impact of your brand’s attractiveness in the market. Through www.tainnovationhive.com, our vehicle for driving innovation and fresh thinking in Talent Acquisition, we’ve developed a toolkit that helps you find that balance.
Hard and Soft Skills are Driving the Economy
In today’s competitive talent market, soft skills are just as crucial as technical abilities. More and more, hiring managers are searching for candidates who not only meet the technical requirements but also bring valuable soft skills like adaptability and collaboration to the table.
Hard Measures that Make a Difference
These key metrics give us a clear understanding of how well our Talent Acquisition strategies are working and where there’s room for improvement.
Candidate Experience & NPS
2024 is all about the candidate. A poor experience can haunt your brand for years. We monitor candidate satisfaction using Net Promoter Scores (NPS) at every stage, ensuring that even those who don’t land the role leave with a positive impression of your company.Time to Hire & Fill Rate
We know speed matters, but rushing the process can backfire. Our focus is on balancing time-to-hire with finding the right fit for both the role and the company culture.Cost per Hire
Tracking recruitment costs remains essential. We help you invest smartly in the channels that consistently bring in high-quality talent without breaking the budget.Quality of Hire
We don’t just measure day-one performance. We assess how new hires perform, how long they stay, and how they grow within the company to ensure our efforts align with your long-term goals.Sourcing Channel Effectiveness
Understanding which channels yield the best candidates allows us to refine your recruitment strategy and ensure we’re utilizing the most effective tools.
Soft Measures that Shape Your Culture
These relational metrics offer insights into the broader impact of your Talent Acquisition efforts.
External Brand Advocates
When candidates speak positively about your company, even if they weren’t hired, that’s a sign of success. Their advocacy bolsters your employer brand and can lead to future talent recommendations.Hiring Manager Satisfaction
It’s about more than just filling roles—it’s about building partnerships that align with long-term business objectives. We track hiring manager satisfaction to ensure we’re meeting this goal.Diversity & Inclusion
Diversity and inclusion are not just buzzwords; they are core to a thriving workforce. We measure these metrics to ensure that recruitment practices are fostering a wide range of perspectives and driving equity within your organization.Employee Engagement in Recruitment
High employee engagement in recruitment efforts—whether through referrals or participation in hiring events—signals a healthy company culture.TA Team Happiness
A happy Talent Acquisition team is a high-performing one. We monitor our team’s happiness to ensure they’re energized, motivated, and building strong relationships with candidates and hiring managers alike.
At devlin talent, we understand that true success comes from balancing the hard numbers with the softer, more relational aspects of recruitment. This blog and toolkit, which you can download here https://www.tainnovationhive.com/product-page/measuring-ta-success , represent our commitment to driving innovation and fresh thinking in Talent Acquisition.
Let’s measure what truly matters in 2024.
— Rob and Becky