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Gain Actionable Insights Using Three New UKG Ready Benchmarking Features

UKG

Gain Actionable Insights Using Three New UKG Ready Benchmarking Features michael.reschke Wed, 08/16/2023 - 10:25 Main Image Background Color Blue Body Benchmarking allows you to compare important data to find the most effective way to manage your talent, increasing productivity and efficiencies and giving you a competitive edge.

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The Reason Companies Should Calculate Cost Per Hire

HR Bartender

Personally, I’m a big fan of the cost per hire metric. I believe the goal of calculating CPH is to provide organizations with a benchmark for their recruiting activities. These are just a couple of examples, but you get the point. Now, I get it…there’s lots of talk about quality of hire being the best recruiting metric.

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Which Recruitment Metrics Are Right For You – Cost Per Hire?

ExactHire

But sometimes having that much information at our fingertips can be disabling and intimidating if we aren’t sure which metrics are worth our attention for our specific company. And let’s say you do know which KPIs will serve you well…how do you then decide on appropriate benchmarks for each metric for your business?

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Time to Fill in Recruitment: Everything You Need to Know

ApplicantStack

Further, tracking metrics, such as time-to-fill, helps recruiters communicate the value of what they do and the effectiveness of an employer’s investment in recruiting activities, improving the hiring processes over time. Here, we’re defining what time to fill means, how to calculate it, how it’s different from time-to-hire and more.

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Build vs. Rent: Don’t Crash on the Do-It-Yourself Iceberg for People Analytics

Visier

To achieve this, the company hired an HR business intelligence team, standardized their reporting metrics, and invested over $3 million in a data warehouse and business intelligence (BI) software. Analysts to determine metric definitions and create reports. Data warehouse software licenses. Data integration tools licenses.

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Talent acquisition strategy and recruitment success

Acendre

The three-dimensional data it generates helps you identify and close any bottlenecks in your hiring process, for example: Time to fill Cost per hire Applicant conversion rates Actionable insights in these areas arm you with knowledge not entirely impossible to unearth manually, but a ridiculously tall order! And measuring recruitment success.

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Key hiring metrics: Useful benchmarks for tech roles

Workable

You may know your own key hiring metrics like your average time to fill or how many qualified candidates you need to make a hire, but what’s the significance of these numbers? By comparing your own numbers against these benchmarks, you can determine what areas of your hiring process are normal and what areas need optimizing.