The Need For Forward-Looking Guidance. In today’s world, all eyes are on Talent Acquisition (TA). Company executives and department leaders want greater visibility into recruiting strategy, and they want to partner with Talent Acquisition to drive strategic recruiting decisions.
TA leaders and managers need to surface the right insights that drive strategic decisions with their business partners. They are looking to:
For talent acquisition teams looking for insights that offer strategic guidance, Gem offers Talent Compass. Talent Compass is equipped with full-funnel visibility, hiring forecasts, performance metrics, and executive reporting that TA teams use to plan ahead and guide their recruiting strategy.
Talent Compass is built for TA teams looking to go beyond basic data reporting and instead, identify what’s working well and where there are opportunities to grow.
Tap into every dimension of the recruiting funnel. With access to all recruiting data from Gem and the ATS from one source of truth (without raising a support ticket), TA teams can track everything outreach to hire and identify key trends across the process. They can then slice and dice metrics the way their business thinks: by role, department, geo, demographics, and more. For example, recruiting teams can uncover outreach strategies that lead to more replies for specific roles and industries. They can also track how these candidates passthrough the funnel and spot any troubling dropoffs or bottlenecks.
Talent Compass also offers visibility and insight into how an organization recruits diverse talent, from initial outreach to eventual hire. At the top of the funnel, teams can review the progress they are making in reaching out to diverse talent. By pinpointing specific content and strategies that drive greater engagement, teams adjust their sourcing strategy towards building diverse applicant pools. With visibility into how candidates from underrepresented groups pass through the recruiting funnel, hiring teams can uncover any disproportionate drop-offs and adjust their process accordingly.
Talent Compass includes a forecasting calculator that projects not only how many hires you can expect to make, but also by when. This can be forecast at the individual job req or at an aggregate level, like department.
Passthrough rates and time-in-stage are based on historical data, but can be adjusted. The calculator also works backwards: users can input the final number of hires they would like to make and the calculator will output the number of candidates and applicants required at each stage in order to meet final goals.
Within Talent Compass, users can launch configurable, presentation-ready reports to visualize KPIs. With easily digestible metrics on hand, talent acquisition teams can come prepared to discuss how they are progressing and where there are opportunities to improve. Reports can be customized with built-in widgets and filters, thereby surface tailored, actionable insights.
Talent Compass also offers built-in benchmarks within the Dashboards module. Users can benchmark their organization’s ability to deliver a great experience (time to hire), close candidates (offer accept rate), and recruit diverse talent (pipeline diversity ratios). Benchmarks are customizable across 6 different slices: company size, location, gender, race/ethnicity, department, and valuation. All told, there are >1,400 unique permutations, with each one validated by over 100 data points across 20+ companies.
Within the Pipeline Analytics module, recruiting managers and leaders can monitor individuals and roles to better understand how their teams are faring. Reviewing specific job breakdowns allows managers to observe pipeline risks across roles or even spot any troubling candidate bottlenecks and/or drop-offs. Within dashboards, managers can even create widgets with specific metrics for their individual recruiters (e.g., phone screen to interview ratio, offer acceptance rate, etc.), serving as a performance scorecard.
“[Our] talent acquisition [team] has even more credibility now because they are no longer speaking anecdotally; they’re speaking with data.”
VP of Recruiting at Unity
Talent Compass was built to empower Talent Acquisition with insights and guidance on how to drive their recruiting strategies forward. As we continue to invest in Talent Compass, our intention is to give our customers the tools they need to come prepared to their next meeting, ready to demonstrate their value!
To learn more about how Talent Compass can help your team, request a demo here.