Successful HR teams track people management data to business outcomes. But often, HR needs the right software tools to answer meaningful questions in order to get the ball rolling in the right direction. Let’s look at three questions HR can answer to get the attention of their business’s executives.
Recruiting is THE top challenge for business owners
Finding talented candidates is as hard as it’s ever been. According to a survey conducted by Robert Half International Inc, finding and hiring qualified and skilled talent is more challenging than retention or engagement. This is where HR has the potential to be a high performing asset to a business. But first, HR needs to answer:
Can we fill empty positions quickly?
Do we have the ability to find quality, skilled candidates?
Do we know how much it costs to recruit and hire candidates?
In order to answer these questions with reportable data, your HR team needs the right tools to find out how long it takes to find, hire, and onboard talented people.
How long does it take to fill a job position?
On average, it takes 36 days to fill an open position. And if you struggle with making decisions, it can take even longer. But decision trees and tools like an applicant tracking system can help.
But it’s critical to know how long it takes to fill an open position because it reveals a lot about your recruiting process, such as:
If your hiring process is too long
If you need to plan hiring needs in advance
If you’re promoting job positions on the right social channels
An applicant tracking system allows hiring managers to easily vet potential candidates, store qualified applicants, and perhaps most importantly, slash the time it takes to hire new employees. With Dominion, connect with Indeed, run hiring analytics, and move candidates through the process with email correspondence.
Do you utilize a referral program?
Employee referral programs greatly increase your business’s ability to find quality candidates in a timely manner. In fact, according to SHRM, 30% of all hires came from employee referrals in 2016. Perhaps most importantly, employee referrals reduce the time it takes to fill an open position and bring in quality new hires who stay longer.
The Human Capital Benchmarking Report says the average cost-per-hire in 2016 was $4,129. However, keep in mind that this is a national average and can easily vary depending on company size, industry, hiring volume, and the specific roles being filled.
It’s important for your HR teams to identify how much it costs to find qualified employees, how long it takes, and to establish a strong referral program. If your HR team can effectively navigate these three hiring channels, they can build a trusted and valuable relationships with C-Suite executives. Not sure how to get on this high-performing path? Schedule a demo below to turn your HR team into high performers!
Interested in learning how Dominion Systems can help your company?