5 Recruiting Diversity Metrics to Measure Year-Round.
Did you know that diverse teams outperform non-diverse ones by 35% and 57% of employees think their companies should be more diverse? With diverse hiring initiatives on the rise, it’s important for companies to track and measure their current progress towards a more diverse workforce. Evaluating the following can help your organization take diverse hiring to the next level. Take a look at these 5 of the most important recruiting diversity metrics to track.
Start by considering how you can get a holistic view of where your organization is lacking or excelling in diversity. Keep in mind that some of the percentages may cross over as employees can be a member of more than one segment.
Using Oleeo Technology
A study by the Administrative Science Quarterly Journal found that when Asian candidates made their names sound more “white” they were twice likely to receive a call back than when using their Asian names, and the same was true for African-Americans. Are you aware of the diversity of candidates in your hiring process? Have you measured it against race, gender, age, disability and even Veteran status? Gather your data to and chart the findings – the numbers may surprise you!
Again, keep in mind that some of the percentages may cross over as employees can be a member of more than one segment. Overall, how does your applicant pool compare to your existing workforce? Is your applicant pool full of minority candidates but your existing workforce is lacking them? Highlight areas of discourse for discussion with your higher ups!
Remember: it’s one thing to hire and employ diverse candidates, but are you keeping them? Use this following chart to see which areas of diversity aren’t sticking around for the long-haul, then investigate with exit surveys to find out why. Keep in mind that some of the percentages may cross over as employees can be a member of more than one segment.
Next, where are the majority of your diverse candidates coming from? Use this information to reallocate recruitment budget towards the right channels of diverse hires and again keep in mind that some of the percentages may cross over as employees can be a member of more than one segment.
Observing current workforce trends is important. Are there pay discrepancies among your minority vs white employees? What about males and females? The age section, we can let slide, since as we age and earn more experience our salaries increase… but are your disabled workers not earning as much as non-disabled? Highlight discrepancies and get these numbers in front of execs. These charts don’t lie!
Oleeo’s study shows that instead of weighing up different companies and limiting their applications to the employer brands they rate, candidates are applying a more scatter-gun approach, basing their decision to apply on minimum job requirements and criteria, such as location and salary. To combat the low rate of hire, candidates are applying to up to 30 different jobs and are not becoming invested in a particular brand at the early stages of the recruitment process – because the likelihood of receiving a response is slim.
Oleeo’s research suggests that this technology is a much needed support for recruiters who typically have 91 tasks to perform as part of the hiring process. However, it isn’t the only solution. To deal with a candidate community focused on the ‘job brand’, employers also need to review their hiring processes. Instead of having a static, one-size fits all approach, they need to implement multiple hiring funnels designed around the individual needs of specific roles, so that it’s much easier for candidates to see the specifics of a role, upfront. The report also shows that when employers implement multiple hiring funnels it allows them to target job seekers like a marketer targets consumers; tailoring the selection criteria and screening so that it’s appropriate for each job group, and allowing communication and content to be specific for each audience.
Continued focus on pre-university strategy – school outreach events and programs that pipeline into spring and summer analyst schemes
Enhanced campus operations risk measures and controls – Anti Corruption Group standards, regulatory, conduct risk assessments and controls, workflows and process maps enhanced and documented
Cost savings in campus recruiting by means of streamlining processes, teams and programs of £840,000
Finally, remember your employees and job applicants are protected under legislations such as the U.S. Equal Employment Opportunity Commission which prohibit employers from discriminating against any employee or job applicant for their race, color, sex, religion, pregnancy, disability, national origin, age, and even genetics. EEOC complaints are made public and any job seeker or existing employee can access them.
All of this can be resolved if you invest in the help of a streamlined, integrated applicant tracking system to reduce bias and ensure compliance amongst your recruitment team. Click the buttons below to read the full report or talk to us today about how we can assist.
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Copyright ©2022, Oleeo Ltd All rights reserved.