(This article originally appeared on HR Daily Advisor.)
Today we’re excited to announce the official launch of the new HireSelect. This relaunch is a long time in the making, and the updates were inspired by the customer feedback we gathered over the last 10+ years. Everything you’ll find within the new HireSelect was designed with a simple goal in mind: to make it easier for you to hire faster and smarter.
A company’s offer acceptance rate is a fairly simple metric – it essentially provides an indication of how likely a candidate is to accept an employment offer. In a sense, it can be a proxy for the success of your recruitment process. Many companies don’t necessarily track this metric rigorously, mostly because you can often get an intuitive sense of whether or not your organization’s offer acceptance ratio is good or bad. However, if you start to feel that the offer acceptance rate is on the low side, that is the perfect time to start tracking it so that when you do make positive changes to your hiring process, you can quantitatively measure how the offer acceptance rate improves over time.
Paid parental leave is a major perk that a company can offer to attract talented job candidates. The United States is still one of the few countries that has no national mandate for paid parental leave, which puts the responsibility on companies to offer it as a “benefit.”
Hiring is expensive, but just how expensive is it? Knowing exactly how much your hiring efforts cost isn’t just important for budgeting purposes – it also provides a benchmark you can use to work towards lowering your overall costs. One way to evaluate hiring expenses in a more digestible way is by breaking it out into the cost per hire – the average amount of money spent to make a single hire.
Every year, a new pool of potential stand-out employees graduates from colleges across the country, and like many other businesses, your company is probably looking to hire a few of them.
(This article originally appeared on CNBC Careers.)
All companies, regardless of size, want to recruit top-notch candidates for their open positions. But it can be tough to contend with larger companies who enjoy a sizable hiring advantage over small businesses and startups. After all, bigger businesses have the resources to easily offer hefty salaries, career advancement opportunities, enticing benefits and perks, and beautiful, centrally-located offices.
There are a ton of different metrics you can use to track hiring success. We’ve written about a number of them in the past, and many of them are very clearly tied to hiring, such as time to hire and employee turnover. But hiring decisions have far reaching effects into just about every facet of an organization because they directly impact how well your employees ultimately perform. As a result, when evaluating the success of the hiring process, it’s important to take into account some metrics that aren’t typically thought of as traditional “hiring metrics.” And when it comes to evaluating how successful your company is at hiring salespeople in particular, sales revenue is an incredibly powerful metric to use as a proxy for hiring success.
Culture fit is one of those terms that gets tossed around a lot as a key factor to consider when hiring the best employees for your team. The problem with “culture fit,” however, is that it’s not entirely clear what the term means. Work cultures are incredibly complex – there’s no easy way to measure what type of work culture your company has, just as there’s no easy way to measure how a particular person might fit into that culture based on their personality.