For companies implementing RPO services, continuous improvement within talent acquisition and recruitment is the goal. In our experience, the best way to improve is to set appropriate benchmarks and measure results.
Because process improvement is an ongoing cycle, you want to first establish what you’re measuring and why. This way, you’re not caught in an endless cycle of setting expectations, analyzing metrics, and improving the process if you’re unclear about what you need to measure or why.
We looked at six of the most important measures of success to give you a starting point for your own continuous process improvement efforts.
3 Quantitative Measures of Success
1. Process Cycle Time: Time is money, and when it comes to hiring, it can make the difference between onboarding the perfect candidate and being forced to settle for less.Ensure your applicant tracking system is set up so you’re capturing candidate data at each stage of hiring, and review the data you’ve collected so far.How long does it take to fill a position? Where are candidates falling out in the process and forcing you to start over? Which stages take too long?Review goals and deadlines set at the implementation stage with your RPO provider to see how closely they align with your current time-to-fill metrics. Identify the cause of delays in order to expedite the process. You may be surprised to learn what internal and external factors are extending timelines.
2. Conversion Rates: How many interviews does it take before you hire a new employee? Not every candidate will be a perfect fit, and sometimes, circumstances beyond your control can disrupt hiring efforts. However, if many candidates are meeting with hiring managers and few are becoming employees, there could be a miscommunication about role requirements or culture.
3. Candidate Pipelines: Assess the number of candidates in the funneland evaluate the sources. Not all sources are the same. Examine candidate sources if there aren’t enough candidates or there are too many of the wrong profiles. Direct sourcing candidates and job board postings are effective strategies to employ if you are trying to build large pipelines quickly, but you still have to take a targeted approach and know your audience. For instance, if you’re looking for 5-10 years of work experience, you may not want to hit college job boards. Your RPO provider should also be using localized sourcing, especially if recruiting in multiple markets nationally. No two localized strategies are the same. Don’t hesitate to ask your recruiters for more insights or information. The more you know, the easier it is to ensure that the RPO services are designed to serve your objectives and find ideal talent from the outset.
3 Qualitative Assessments
1. Hiring Managers: Get feedback from your front lines and speak with hiring managers about their experience with the RPO firm. Has the recruiter been responsive? Are they offering proactive solutions and anticipating needs in an efficient manner? Are the candidates potential fits or misses? Check in early and often to get a good idea of how the process is working.
2. Cultural Fit: Attitude, values, personality, and cultural fit are crucial for synergy in the workplace. Your RPO company should be addressing this factor in their recruitment initiatives but also closely aligning themselves with your organization. Have strategic conversations and consider key factors like motivations, relationships, and impact that drive your RPO partner.
3. Partner or Vendor: Your provider for RPO services needs to be as involved, committed, and concerned about the hiring process as you are. Instead of establishing a vendor or client relationship where you are calling the shots and making requests, the relationship should be a collaboration where your RPO services help you anticipate needs, stay aware of the bigger picture, and continue to develop a trusted and talented team.
Enhance Your RPO Services with Ongoing Improvement
Collaborating with established RPO service providers will help optimize your hiring process. The key, though, is collaboration. Work alongside your RPO services provider to improve, iterate, and redefine the process. Leverage their expertise while highlighting your organization’s key pain points, successes, and values. The more you give and take, reflect and realign, the better your RPO services will serve you.