Quintessence is the term we apply to the FIVE areas of performance by which each recruiting or talent sourcing team must be measured. This ideology begins with buy-in from key stakeholders and clients of a corporate recruiting or talent sourcing function on a clear Definition of Success for each of these five areas. Collaboration is required to then settle on the quantifiable, pass/fail metrics to be reviewed semi-annually or annually.
- QUALITY: The quality of candidates and the quality of the process are generally the foundation for the KPIs here.
- QUANTITY: It is possible to have too many or too few resumes, phone screens, and interviews. Decide on the norms in advance and document appropriately.
- COST: At what level of cost will the client or company become concerned? Cost-per-hire, cost-per-candidate, and cost-per-prospect are measures that are critical to establish up front.
- SPEED: Clearly define project start and end dates, as well as each of the key milestones throughout the process. This prevents a battle of opinions stemming from a complaint that sounds like, “I think this process is taking too long.”
- DIVERSITY: Get specific. Which identity groups are underrepresented? Is everyone on board and clear on their role in the process? Each project participant has a critical function in the business-imperative metric–from hiring leaders to those heading up sourcing and recruiting initiatives.