Benchmark Data for Project Hiring
When the IT team’s success is dependent on talent acquisition’s performance, it’s important to hold them to a high level of performance. Some good hiring benchmarks are:
Time to hire: This measures the number of days it takes to fill a position from the time it's opened to the time an offer is accepted. A reasonable benchmark for time to hire is to aim for 30-45 days. 60+ days is considered bad.
Candidate quality: This measures the overall quality of candidates who are presented and interviewed for a position. It’s necessary in today’s environment for a candidate to be at least an 8 out of 10 in terms of skills AND a good culture fit. Anything less than 7 out of 10 will not be worth the time and risk.
Retention Rate: This measures how many members of the team make it past a year. This should be 85% or higher.
Time to productivity: This measures the amount of time it takes for a new hire to become fully productive in their role. In today’s world, 2 months is a reasonable benchmark to have members of the team independently functional. More than 4 months indicates a poorly screened candidate.
Communication: Level of communication is critical when projects are dependent on having enough resources in order to be successful. There should be regular status reports along with swift action when managers need more help on open positions. It’s a danger to the team’s success if you don’t feel heard and supported by recruiting.
Amount of interview rounds: 2-3 consistent interview rounds is the norm. 1 is not enough to evaluate a candidate and more than 4 indicates a poor evaluation process with the risk of losing the good candidates.
If your team is struggling to hit the target benchmarks, click the button to see if it might make sense to get extra help.