Monday, September 17, 2007
Benchmarks are important?
Benchmarks are important, and in the recruiting world, one benchmark stands above all: time to fill. Time to fill calculations are general industry standards and beating them is always very satisfying. SHRM has a brief available that gives some basic numbers on time to fill stats. 33 days to fill a durable goods manufacturing position? Check.
As a benchmarks lover, though, I can't help but wonder if time to fill is the best metric for recruiters. What I've been doing lately is looking back at my time to source number. I'm operationalizing time to source as how long the clock ran between the time the requisition was opened and when I found the candidate who was ultimately hired. This metric also is completely within my control: no watching the clock running because the hiring manager has gone to Japan for three weeks--or worse--just doesn't look at the candidates more than once a week.
One of the reasons I like the time to source metric is that it helps me determine if I'm getting better at my job. The first time I go looking for, say, a Power Electronics engineer, it may take me a while to find the right venue. The second, third, tenth time-----the time to source should be much shorter.
So my proposal: out with time to fill, in with time to sourceLabels: Business Lessons, Consulting, Excellence
Posted by "CPerformance" ::
9:57 AM ::
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