This initial stage of the employee lifecycle provides the business with important data as to the incoming human capital available to the business (see here for more information).
Employer brand warmth: a measures of the employer brand, important for attracting new talent to the organisation.
For example, % of new recruits joining organisation as a result of targeted role advertisements.
Cost per hire: the total cost of recruiting and on-boarding a new employee
Cost per hire = recruitment costs / (compensation cost + benefit cost)
Time to fill (average): a measure of the time taken to fill an open position
Time to fill = total days taken to fill a role / number of successful new hires
Time to competence: the time it takes new recruits to reach adequate level of capability to complete their role.
Talent identification: this measures the development of people in priority talent segments
For example, % of identified talented individuals per department/team
Rate of retention of new starters: this measures the percentage of new starters retained over a given timeframe. It is particularly useful in service industries with traditionally high levels of employee turnover.
For instance, N of new starters leaving within 6 months / Total number of new starters
Recruitment effectiveness: this measures the satisfaction of hiring managers with the recruitment process and its outcome
% satisfaction with hired employee or % satisfaction with hiring process
Turnover (annual): a measure of the rate of employees leaving the organisation over a 1 year period.
Understanding when and where employees are leaving your organisation may provide insight in a number of areas including recruitment practices and organisation culture as well as informing workforce and succession planning strategies. For more information visit the CIPD factsheet on employee retention and turnover.
The CIPD employee outlook survey helps organisations understand what employees’ perceptions of work and the workplace. Helping to understand what drives job satisfaction, attitudes to management, culture, performance and work-life balance. Read the latest survey findings here:
Induction plays a significant role in the recruitment and retention of employees. For practical guidance on setting up a successful induction read the CMI checklist.
Organising the induction of new recruits
At Enterprise Rent-a-car, 99% of promotions are from within the organisation. Leigh Lafever-Ayer, HR Director UK & Ireland, explains that this means that the company needs to know a lot about its talent. The HR team ‘use the data to tell a story’ about why people are attracted to work at the company, and where they’ve come from, while being transparent about the collection and use of data in the organisation.
Listen to the podcast: Enterprise case study
Unilever have also been using their people measures to increase the impact of their recruitment activities and analyse the success of their employer branding and measure and improve the effectiveness of their organisation.
Read the full case study to find out more about how their organisation make use of human capital analytics.