CFOs and CEOs may have to demand such information for it to become a standard part of the process. New options Respondents to SHRM's 1997 HR trends survey say that finding candidates was their single greatest employment challenge, followed by retaining those hired and selecting the best qualified. Organizations are getting more sophisticated and see ways to measure with meaning for operational management for the CFO and contribute to the bottom line. One of those new methods was introduced at the SHRM annual conference this year. The Metrics-Driven Staffing Model, developed by Burkholder, is based on several years of research by EMA members to determine the parts of the hiring process that best indicate success.
Cost is only one factor.
You have to include and weigh the time it takes to fill the position, quality of the hire and customer satisfaction. Doing so levels the process. It breaks down costs by geography, level and type of hire, among other elements, to make the data more meaningful. It can't be the same for an executive versus a clerk and, even with the same level of jobs, costs can differ. The model is based on a closed-loop recruiting process that uses continuous strategies to attract, select, absorb, evaluate, adjust and retain valuable candidates for jobs.