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How We Used the Qualified Candidates KPI to Improve Recruiting Results

Melissa Suzuno

Melissa Suzuno is the Content Marketing Manager at Greenhouse, where she gets to share her love of the written word and endorse the use of the Oxford comma on a daily basis. Before joining Greenhouse, Melissa built out the content marketing programs at Parklet (an onboarding and employee experience solution) and AfterCollege (a job search resource for recent grads), so she's made it a bit of a habit to help people get excited about and invested in their work. Find Melissa on Twitter and LinkedIn.

It’s probably not a big surprise that at Greenhouse, we spend a lot of time thinking about our recruiting process. We’re often questioning how we can measure our success and identify areas for improvement. And once we’ve done those things, we look for ways to turn that knowledge into action.

Our recruiting Key Performance Indicators (KPIs) are a huge part of all that consideration and discussion. In previous posts, our Director of Talent Acquisition Lauren Ryan outlined the five KPIs our recruiting team uses: qualified candidates per openingcandidate survey resultsdays to offeroffer acceptance rate, and hires to goal.

Now, we’d like to give you a glimpse into what this looks like in action by sharing a case study from Greenhouse. Keep reading to learn how we used data to improve our recruiting process and experience some significant wins.

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Featured Image Recruiting Metrics

The 5 Most Popular Greenhouse Blog Posts of 2016

Melissa Suzuno

Melissa Suzuno is the Content Marketing Manager at Greenhouse, where she gets to share her love of the written word and endorse the use of the Oxford comma on a daily basis. Before joining Greenhouse, Melissa built out the content marketing programs at Parklet (an onboarding and employee experience solution) and AfterCollege (a job search resource for recent grads), so she's made it a bit of a habit to help people get excited about and invested in their work. Find Melissa on Twitter and LinkedIn.

As 2016 comes to a close, I wanted to take a moment to reflect on some of the highlights of this past year. And what better way to do that then to review some of the most popular posts from the Greenhouse Blog?

So without further ado, here are the top 5 posts of the year, and a few of the major lessons they’ve taught us.

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Featured Image Recruiting Metrics

How Good Are Your Interviews?

Mallory Brown

Mallory Brown, Content Marketing Manager at Glassdoor, is a Bay Area native who is passionate about creating impactful resources for employers. With over 100 Glassdoor thought leadership webinars under her belt, Mallory now develops original content marketing assets, and contributes pieces to the company's blog and social media channels.

With so many companies competing for the best of the best talent out there, recruiting in today’s candidate-driven market can be tough. But what if we told you there’s a cure for your recruiting woes, and it all came down to your interview process?

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Featured Image Recruiting Metrics

The $1M Difference Between Good and Great People Practices: A Case Study

Maia Josebachvili

Maia Josebachvili is VP of People & Strategy at Greenhouse. Her teamis pioneering the concept of reinventing the traditional HR department and combing the People and Strategy functions. Maia has a decade of experience building and scaling teams. She was the Founder & CEO of Urban Escapes where she was named one of Inc. Magazine’s 30 Under 30. She later sold the company to LivingSocial and went on to run several business units there, hiring and managing a team of 800 full and part-time employees across the country. In a previous life chapter, Maia was a professional skydiver with 750+ jumps. Follow her on Twitter.

In my last post, I explained which People Practices have the greatest impact on employees: onboarding, hiring, talent management and development, and culture. Making even small improvements in these programs can significantly increase Employee Lifetime Value (ELTV)—the total net value over time that an employee brings to an organization.

To demonstrate the impact of these practices on ELTV, let’s walk through a case study involving two distinct scenarios. To demonstrate how much impact even small improvements can have, I’ll use conservative assumptions for each input. In reality, the differences can actually be much greater. See my last post for supporting data on these assumptions.

The monetary difference between good and great people practices is astounding. Read on...

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Featured Image Recruiting Metrics

How to Make the Business Case for Workplace Diversity in 7 Steps

Ji A Min

Ji-A Min is Head Data Scientist at Ideal.com, software built to eliminate hiring mistakes. Ideal instantly shortlists the best candidates for your company using people analytics and helps companies increase their workplace diversity through intelligent shortlisting, pre-hire assessments, and blind hiring.

Workplace diversity has become a top recruitment priority these days. A survey by SHRM found that 57% of HR professionals state their recruiting strategies are designed to attract diverse candidates. Glassdoor found that 67% of job seekers said that diversity is an important factor when deciding between companies and job offers.

Workplace diversity is no longer just a noble goal or feel-good concept. In addition, companies are starting to view diversity as a competitive advantage.

To help you make the business case for workplace diversity in your recruitment efforts, I’ve created this 7-step guide. Read on...

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Featured Image Recruiting Metrics

The 4 Inputs of ELTV: Which People Practices Impact Your Employees the Most?

Maia Josebachvili

Maia Josebachvili is VP of People & Strategy at Greenhouse. Her team is pioneering the concept of reinventing the traditional HR department and combing the People and Strategy functions. Maia has a decade of experience building and scaling teams. She was the Founder & CEO of Urban Escapes where she was named one of Inc. Magazine’s 30 Under 30. She later sold the company to LivingSocial and went on to run several business units there, hiring and managing a team of 800 full and part-time employees across the country. In a previous life chapter, Maia was a professional skydiver with 750+ jumps. Follow her on Twitter.

In last week’s post, I introduced the idea of using the concept of Employee Lifetime Value (ELTV) to understand the ROI of investing in People.

Now let's explore which 4 People Practices most impact ELTV. Read on...

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Featured Image Recruiting Metrics

How to Understand the ROI of Investing in People: Using Employee Lifetime Value to Articulate the Business Impact of Your People Team

Maia Josebachvili

Maia Josebachvili is VP of People & Strategy at Greenhouse. Her team is pioneering the concept of reinventing the traditional HR department and combing the People and Strategy functions. Maia has a decade of experience building and scaling teams. She was the Founder & CEO of Urban Escapes where she was named one of Inc. Magazine’s 30 Under 30. She later sold the company to LivingSocial and went on to run several business units there, hiring and managing a team of 800 full and part-time employees across the country. In a previous life chapter, Maia was a professional skydiver with 750+ jumps. Follow her on Twitter.

Most People leaders have a list of initiatives they’re passionate about implementing because they believe they will improve retention, engagement, ramp time, etc. However, at many organizations, it is difficult to get executive budget approval for these programs. Often, it’s because it can be difficult to prove to upper management that the People Practices you want to carry out can result in significant ROI for the business, so proposals rely more on instinct or industry norms.

I don’t think this needs to be the case.

I’m excited to share a framework I developed that helps articulate the employee lifetime value and ROI of the investments you want to make to strengthen your organization—like hiring, onboarding, talent management, employee development, and culture initiatives.

To help assess and articulate the business impact of these People Practices, I would like to introduce and define a new concept: using Employee Lifetime Value (ELTV) to compare the relative return of People Practices.

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Featured Image Recruiting Metrics

How Greenhouse’s Director of Talent Acquisition Uses Data to Determine Recruiter Capacity

Casey Headshot

Casey Marshall is Partner Marketing Specialist at Greenhouse. She teams up with Greenhouse partners and customers to tell a story and share insights into ways companies can improve their recruiting. She loves that this job allows her to build relationships with thought leaders and showcase how innovative companies are changing their recruiting approach. Connect with Casey on Twitter and LinkedIn.

Data is a powerful thing. It’s nothing we haven’t already heard.

Tracking your recruiting efforts with data is essential, but what is even more powerful is what you do with the numbers you’re tracking and how you’re strengthening your organization with those numbers.

In our latest webinar, Lauren Ryan, Director of Talent Acquisition at Greenhouse, and Kirsten Davidson, Head of Employer Brand at Glassdoor, teamed up to share how they are optimizing their recruiting strategy through strategic headcount planning and recruiter capacity.

For this blog post, I’m going to dive into two areas that we don’t get to hear much about when it comes to recruiting data. Read on to learn how you can improve your workforce planning and what that will mean for your recruiting pipeline.

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Featured Image Recruiting Metrics

Recruitment Metrics 101: Adding Transparency to Your Work

Jon Stross

Jon Stross is President and Co-Founder of Greenhouse. At Greenhouse, Jon drives the product strategy and works closely with customers and partners to build a platform that improves recruiting performance. Before founding Greenhouse, Jon served as the GM for BabyCenter.com and was responsible for the global rollout of the business.

Feel like your relationship with data is…complicated? I hear this from a lot of our customers. On the one hand, everyone says they want to be data-driven and the boss is typically demanding it, but in reality, few people are actually getting a lot of useful information out of their data. While there are lots of recommended best practices, when you consider the chronically jam-packed schedule of the typical recruiter, it’s easy to see how “data” gets added to the to-do list, but never quite gets checked off.

We spend a lot of time thinking about data-driven recruiting and recruitment metrics here at Greenhouse—in fact, our Director of Talent Acquisition Lauren Ryan wrote an entire eBook on the 5 Recruiting Key Performance Indicators we use here.

But what if you agree that you’d like to be more data-driven, but you’re not ready for the sophistication of what we recommend in the eBook? What is the first thing you can do?

I’d like to show you a simple way that you can begin to get more meaning from your data.  

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Featured Image Recruiting Metrics

From Lou Adler: A Step-by-Step “How To” for Calculating the ROI of Quality of Hire

abacus_blog

Lou Adler

Lou Adler, CEO and founder of The Adler Group, is recognized as one of the best recruiters in the world. His highly acclaimed Performance-based Hiring methodology has been successfully adopted by numerous companies such as Lincoln Financial, The Medicines Company, Airbnb, and PPG. Lou is also the author of the Amazon top-10 best-seller, Hire with Your Head and The Essential Guide for Hiring & Getting Hired.

 

When are two birds in the hand worth less than one in the bush?

Answer: when the quality of the one in the bush is far better than the two in the hand.

There are three costs you need to consider when hiring people. The first is the cost to get them hired. The second is the cost for keeping them employed. This includes all of their salaries and associated expenses. The third is the opportunity cost of not hiring the best person possible.

That said, too many recruiting departments focus too much on the cost of hiring. But think about this: if you’re going to be hiring 100 people in the next 12 months, the total salary and overhead expense would be $10 million per year (at an average of $100,000 each). This is a lot of money. Even more significant is the impact these people will have on the company.

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