The Time Is Always Right to Measure Recruiting Performance

fingers-1850183_640While most CandE Award winners measure their candidate experience regularly, nearly half of the top-ranked 2016 CandE Award winners also incorporate their findings into their recruiter dashboards, which are discussed regularly during formal recruiter reviews, according to recent Talent Board research.

It’s no coincidence these companies dominated the CandE Awards. Each of them has embraced the fact that ongoing improvement demands ongoing measurement. Informatica is one of these companies—and a multi-year CandE Award winner to boot.

In a recent Talent Board webinar, Mark Hornung, Informatica’s Senior Manager of Talent Acquisition Marketing and Employer Branding, spoke about his company’s talent challenges and how it uses CandE data to continually benchmark and improve its candidate experience.

Tall Talent Challenges To Conquer

Hornung noted that viable talent is comparatively scarce in Informatica’s specialized technical niche (enterprise data integration). And despite the company’s impressive pedigree—its success spans nearly 25 years and its clients include 84 of the Fortune 100 companies—Informatica competes for talent against several highly renowned brands in the data space. Adding to these challenges, Informatica’s candidates are highly networked. This means reputations spread quickly, so delivering a smooth candidate experience is critical.

“That’s why we don’t benchmark our Careers website against competitors,” Hornung said. “We benchmark against Amazon, Expedia and other sites that are known for delivering simple, stress-free user experiences. Applying for a job should be almost as easy as ordering a book online.”

Surveys are one of the most important tools Informatica uses to measure and monitor its candidate experience. While the company has long surveyed candidates on its own, it’s increasingly leveraging the survey results and insights it receives from the CandE Awards program. “The reason the CandE program is so important is that it helps identify specific strengths and weaknesses in your candidate experience,” Hornung observed. For example, Informatica’s CandE data showed that its application process is five minutes or less, well below the 13-minute average for most employers. That’s a clear strength in the talent acquisition race.

On the other hand, its CandE data showed Informatica there was room for improvement regarding post-application communication. “Today’s candidates simply won’t put up with a lack of feedback after they’ve applied to a job,” said Hornung. “They expect to hear from us. They don’t expect to be left hanging. The data showed we needed to communicate with them more.” (Note: Informatica is just one of many companies challenged by post-application communication. The Talent Board reports that, in 2016 alone, 47% of candidates were still waiting to hear back from employers two to three months and more after they applied to jobs.)

Informatica has since begun overhauling its ATS’s auto response function and adding tools that improve the frequency and timeliness of its candidate communications. The company has also instituted a global task force that convenes regularly to discuss best practices or reasons why its candidate experience needs additional tweaks. Again, CandE data is invaluable to the group’s discussions, as are data from other sources such as Glassdoor.

Continuous Measurement for Continuous Improvement

In Hornung’s estimation, another key advantage of participating in the CandE Awards program on an annual basis is that it provides continuous benchmarking data. “You can see exactly how you’ve performed from year to year,” he said. “For a data-driven company like Informatica, that’s extremely important.”

Like many other CandE Award recipients, Informatica knows that candidate experience affects the bottom line, especially at companies whose candidates are also customers. Hornung cited a study conducted by Virgin Media that revealed the company was losing more than 4 million pounds annually in sales revenues due to poor candidate experiences.

Clearly, Informatica is extracting maximum value from its CandE candidate experience research data—which is just what you’d expect from a company that specializes in data integration, right? But take it from me, you don’t have to be a data scientist to get enormous business value from participating in the CandE program. Wells Fargo and New York-Presbyterian Hospital have also strengthened their candidate experiences and improved the potential positive impact on their businesses with the help of CandE data insights.

The time is always right to measure recruiting performance.

Talent Board is the first-ever nonprofit research organization focused on the elevation and promotion of a quality candidate experience. Each year the organization gives special awards to those companies with the highest candidate ratings per their benchmark research program.

You can still participate in the 2017 Talent Board Candidate Experience Awards and Benchmark Research. Find out how today. And if you’re interested in learning more about how Informatica transformed its candidate experience, just click on the preceding link to watch the brief webinar.