Insights for technology professionals

5 Cornerstone Metrics to Track for the Best Engineering Talent

Posted on September 20, 2018 by Jack Trompert


As a hiring manager in the semiconductor field, your goal is to find the top engineering talent for your team. But searching for the cream of the crop is not an easy task if you’re not consistently measuring for success.

Metrics are important to find what’s working and not working in your recruiting and hiring process. With evolving technology, competitive job markets, and hiring trends and disruptions, it’s important to choose and evaluate the right metrics to drive meaningful impact in your organization and become a competitive force in the semiconductor industry.

Today, let's look at five cornerstone metrics to track to help you find and hire the top engineering talent.

Time to fill: The planning metric

What is time to fill?

Time to fill is the number of days between the listing of a job and an accepted offer.

Why do you need to measure it?

Measuring how long it takes for you to source a new employee provides many benefits. This metric determines if your hiring process is effective or if your job sourcing strategy needs work. Measuring your time to fill will also help your organization grow by giving you more realistic timelines to plan around.

Time to hire: The efficiency metric

What is time to hire?

Time to hire (or speed to hire) is the time elapsed between engaging with a candidate and accepting an offer. While time to fill starts when you publish an open role, time to hire typically begins when a candidate applies or gets sourced.

Why do you need to measure it?

Measuring the time between candidate sourcing and offer acceptance gives you an understanding of how well the recruiting team is performing. How quickly are they making decisions? Are there bottlenecks in your hiring process? This is the time where your team can have the most impact on candidates. Tracking this metric evaluates the effectiveness of your team’s interview and negotiation processes.

Quality of hire: The sourcing metric

What is quality of hire?

The quality of hire indicates the value new hires bring to an organization. You can measure this metric by looking at performance reviews, turnover statistics, promotions, or culture fit scores.  

Why do you need to measure it?

Touted as the golden metric of talent recruitment and hiring, the quality of hire checks the health of your sourcing and advertising strategies as well as validates your hiring practices. There’s no industry standard for measuring quality of hire since people perceive quality differently.

Source of hire: The distribution metric

What is source of hire?

The source of hire (SoH) shows what percentage of your overall hires entered your pipeline from each recruiting channel or source (e.g. referrals, job boards, direct sourcing).

Why do you need to measure it?

This metric allows companies to allocate their budget and resources to the most valuable channelsand cut the ineffective ones.

Job satisfaction: The happiness metric

What is job satisfaction?

The job satisfaction rating is the hire’s satisfaction with a company. You can measure these ratings with surveys or polls of candidates and new hires.

Why do you need to measure it?

Candidate satisfaction plays a telling role in employee retention, attrition, and referrals. A good candidate experience builds an employer-of-choice culture and positive reputation in the talent community. One company even uses employee satisfaction scores to boost the productivity of engineers.

Take the next steps toward data-driven solutions

With these five key metrics, you can use untapped data to keep a pulse on each part of the recruiting and hiring cycle. By knowing which data to collect, you’ll better manage expectations, optimize workflows, and take a more strategic approach to your role.

Building a more data-driven engineering talent practice is a learning process, but getting started now helps you build the foundation for greater company success tomorrow.

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Jack Trompert

In 2010, Jack and Janet Trompert started Talent 101 with a clear new vision on how to deliver talent to the marketplace. To work at Talent 101 is to be a part of something creative and big. From our modest roots as an ambitious startup, to becoming a global workforce solution provider to the world’s most recognized semiconductor companies, our growth and momentum owes a lot to our strong company culture of customer service, can do attitude, sense of urgency and always focus on the client and talent.