The value of time is priceless and to fully understand the impact your workforce management solution is making, time is key to your success.
In the first part of my outsourcing series for workforce solutions, I explored cost per hire
. The next factor to consider is time.
Time-to-fill, time-to-start, time-to-productivity, time wasted; each of these is an important part of your talent acquisition strategy. But there are only so many hours in a day, so where do we start? Let's break it down into three key areas:
1. How do you assess the timeliness of your talent acquisition strategy?
When it comes to workforce management, there are many time-related factors to take into account.
- Milestones: Some can and should be recorded as milestones or steps, allowing for exact time lapse measurements, reporting and trend analysis.
- Time investment: Some are time investment rather than time lapse-orientated, which is therefore interrelated to the resources available (the less resources available, the longer this will take).
- Subjective decision: Some are difficult to record because they are in people’s heads, such as when a manager starts feeling they need to hire someone, or the time any stakeholder thinks should elapse between one milestone and another.
With this in mind, here are the factors to consider when measuring the timeliness of your talent acquisition strategy:
- The overall time taken to fill a role between agreed/recorded milestones
- The overall time taken to fill a role from when the hiring manager identified the need
- The total time it takes for the chosen candidate to reach the desired level of productivity in their new role
- The total time of the recruitment lifecycle - from job description creation to candidate onboarding. This needs to include every task, no matter how small, whether it's reviewing a CV or giving interview feedback
- Time spent calculating where amendments to the strategy need to be made
- Any time wasted along the way due to delays in kick-starting next steps in the recruitment journey
- Time lost on a potential hire that didn’t complete the recruitment lifecycle, causing the process to restart
An overarching factor that may impact all of the above metrics is the resources allocated to deliver the activities; many hands make light work, or more to the point, get the same work done more quickly. If time to hire is imperative for your business, allocating the optimal amount of resources to address the workloads at each stage of the process may be key.
For this reason, AGS adopts a Workbench approach to resource allocation; as opposed to looking at annualized delivery expectations by recruiter (number of hires per recruiter per annum). We take one step further and look at the workloads of intake sessions, sourcing, screening, offer management and onboarding across the portfolio of roles each recruiter is working on. In this way, by monitoring workloads at any given moment in time, the team can be rightsized to ensure they meet time to hire objectives.
If your current talent acquisition team is struggling to monitor each of these aspects as closely as you would like, it may be time to consider outsourcing your recruitment to a partner that has the expertise to measure each of these efficiently.
2. Do you have data to show your workforce solutions’ timeliness?
It's vital that you're assessing each of the time-related metrics listed above. However, if you don't have an effective means of gathering data in relation to each, it's unlikely that your talent acquisition efforts are going to be as timely as you would like.
“This is the area most commonly realized as extremely valuable in our RPO engagements, as the client rarely has the data capture and reporting process well defined and managed. The detailed reporting experience AGS brings to this critical piece of the puzzle is consistently recognized as crucial in strategic talent decision making and helps validate the use of external experts,” says Craig McGrory, Allegis Global Solutions (AGS) Director of Business Development.
At Allegis Global Solutions (AGS), our Recruitment Process Outsourcing (RPO)
solutions can effectively gather data on the time spent on each activity throughout the recruitment lifecycle. This allows you to judge exactly how timely your talent sourcing efforts are, helping you make potential adjustments if necessary. What's more, if you know that the timeliness of your recruitment lifecycle is being taken care of, you can spend more time focusing on meeting your other corporate goals.
3. How does your timeliness measure up to your competition?
By outsourcing your workforce solution, you can deep dive into each of the metrics that are important to your leadership. With this intel, you’re provided with the confidence that every single time-related aspect of your recruitment lifecycle is being catalogued and monitored via your RPO solution. As a result, you'll have a benchmark from which to measure the timeliness of your workforce strategy so you'll be in a better position to see how your efforts shape up to those of your competitors.
In my next blog post for this outsourcing series, I'll be looking at how you can assess the quality of your workforce management. In the meantime, let me know how you monitor time-related metrics in your recruitment strategy by connecting with me on LinkedIn
Posted 1/12/2017 By Kristy Sidlar
Kristy Sidlar has more than 20 years of experience in the talent acquisition and recruitment industry, with ten of those years in Recruitment Process Outsourcing and Managed Services Provider. In her current role as Managing Director of Business Development for...
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