Know Your Hiring Metrics and Stay Ahead of the Competition
Trakstar Benchmarking for Hire provides HR professionals monthly insights into their hiring practices. Understand where you stand in recruiting the top talent in your industry.
The Hiring Landscape
Recruiting top talent is an ongoing challenge. The Benchmarking dashboard keeps you up to date on your trailing 12 months of job openings, applicants and hires. Compare your metrics to those of your industry peers and similar company sizes to ensure you are efficiently attracting the best talent. Monitor and explore the increase or decrease in your hiring activity and see where you are trending against the market.
Meet Your Applicants Needs
Attracting the best workers is only part of the equation. Ensure you are competitive in your offers by comparing your offer acceptance rate against your peer groups.
In addition, take a look at whether your job postings are remote, in the office or a hybrid. Be able to use this data to show whether you should be steering your workforce toward a more remote or office setting.
Track Your Hiring Pipeline
Are you keeping up to speed with attracting the right talent and the right applicants in the market? Are you screening enough candidates to make sure you are finding the right employee?
Hire Benchmarking stays on top of all of this data for you so you can review reports and make adjustments quickly. You will see your number of applications per opening as well as how many candidates you screen per interview. Even access the hiring pipeline statistics across all industries to stay up-to-date on the market as a whole.
Shape Your Hiring Process
The hiring market is constantly changing. Seeing your number of applicants per hire gives you an insight into how intensive your hiring process might be. Knowing your organization’s candidates per hire ratio helps you forecast your hiring process, hit your headcount goals on time, and identify whether you are running an efficient pipeline.
How many interviews does it take you to identify your ideal candidate? Interviews per Hire reflects the alignment to attract the right talent so fewer interviews are necessary after a thorough screening process.
Interview fatigue can be a real risk for employers and interviewees alike. Benchmarking gives you the numbers to confirm you have a strong screening process in place to help keep this from happening.
Efficiency in Hiring
Your time to hire is not only important to your organization, it is important to creating a strong candidate experience. Benchmarking shows your time to hire over the past 12 months compared to your peer groups in presentation ready graphs. Measure how long it takes for candidates to move through your hiring process from application date to hire date, which shows your hiring speed from the candidate perspective.
Ensure you are creating the talent pools necessary to fill your most critical roles in a timely fashion. The length of time to fill an opening from publish date to hire date can have a large effect on the productivity of your workforce. This provides a view on the overall hiring process timeline from the organization perspective. Benchmarking measures this for you and can even make recommendations on how to shorten your time to fill.
View your average duration between opening publish dates and candidate application dates. With this data you can reflect on how quickly your potential audience acts on your opportunities. Job descriptions can help get your openings in front of the best potential employees. Understand how long it is taking your ideal candidates to find your opening so you can take the necessary steps for them to apply sooner.
Benchmarking shows the potential of your HR department and your entire workforce. We have the tools to help you succeed in all areas of talent development, including attract, retaining, engaging, and understanding your top talent.
Empowering hr professionals at over 3,000 companies
Learn More About Benchmarking Today
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