It’s no secret that developer assessment platforms enable organizations to successfully hire top tech talent. But is there a way to measure this success?
Here are 5 metrics that prove how developer assessment platforms such as HackerEarth helps organizations streamline their screening process.
1. Time to hire
Time to hire indicates the time taken for an applicant to move through the hiring funnel and land a job offer. It measures how quickly a recruiter is able to hire a candidate.
While hiring developers, both the technical and talent acquisition teams conduct multiple rounds of screening to evaluate and interview candidates. However, this is a lengthy process and takes time.
In order to close positions faster, recruiters are constantly on the lookout for innovative methods that can help them expedite the time taken to hire a talented candidate.
Using skill-based assessments, recruiters and hiring managers can filter candidates based on their performance. This cuts down the number of screening rounds required to assess developers, reducing the time to hire.
Based out of Chicago, FourKites is a predictive supply chain platform for the broadest network of Global 1,000 companies and third-party logistics firms. The recruitment team at FourKites used HackerEarth to screen potential candidates before shortlisting them for face-to-face interviews.
Using the detailed reports on the platform, the team claims that it took them less than 10 minutes to accurately evaluate a candidate. HackerEarth helped the team at FourKites significantly reduce the number of interviews needed to screen a candidate from eight to four, reducing the time to hire by 50%.
2. Cost per hire
The cost per hire directly measures the total cost involved in hiring a new employee. In numerical terms,
On an average, recruiters in the US spend up to $150,000 to hire a full time software developer. And this begs the question—How can recruiters optimize spending? Ideally, the cost of hiring shouldn’t be proportional to the scale at which recruiters hire. But in case of manual assessments, this happens. By adopting solutions to automate their assessment process, recruiters can hire at scale at much lesser costs.
Founded in 1998 and headquartered in Philadelphia, Odessa Technologies provides leasing software solutions to major customers globally. Using HackerEarth, Odessa evaluated 10,000+ candidates across 40 universities and spent close to $13,000 dollars. Earlier, they’d spent over $100,000+ in the same recruiting effort but after using HackerEarth, they could save on 87% of their recruiting cost.
3. Quality of hire
Quality of hire indicates the value a new employee brings to the company and this is perhaps the most sought out metric by recruiters and hiring managers alike. The quality of hire measures how successfully recruiters find candidates who are the right fit for the organization.
A bad hire costs an organization thousands of dollars. The quality of candidates hired depicts a clear picture of a company’s talent acquisition strategy. An assessment platform like HackerEarth can accurately evaluate a candidate’s skills and help recruiters shortlist a pool of talented developers quickly. This helps them determine the quality of hires by measuring the percentage of candidates hired from the pool of developers shortlisted after taking an assessment.
Part of the Global Fashion group, ZALORA, an e-commerce platform based in South East Asia, has been using HackerEarth Assessments for 3 years now. ZALORA witnessed an enhancement in the quality of candidates attending the face-to-face interview. After using HackerEarth Assessments, the team at ZALORA saw an enhancement in the quality of the shortlisted candidates. Roughly 47% of candidates passed the test, out of which 70% of candidates were hired. Before HackerEarth Assessments, the percentage of candidates hired was much lesser.
4. Scalability in hiring
As organizations ramp up their hiring process, the hiring volume increases. Additionally, the skill sets they look for in candidates also change. Scalability in hiring involves forecasting such hiring requirements.
Odessa Technologies’s earlier approach to campus hiring was quite traditional. It comprised two rounds—an aptitude test and a programming test. However, evaluating candidates via a manual assessment process was time-consuming. Using HackerEarth, Odessa Technologies was able to speed up their hiring cycle by a whopping 98%. They evaluated 10,000+ candidates from 40 universities and evaluated their skills across 25+ programming languages. Odessa technologies has been using HackerEarth for the past 3 years and continues to screen and hire developers adept at multiple skills.
5. Recruiter bandwidth
Recruiter bandwidth indicates the finite time and resources that are at the disposal of a recruiter. While hiring requirements change annually in most organizations, recruiting budgets remain the same more or less. However, with the number of developers expected to grow in the next couple of years, it is going to be even more difficult to screen developers in such a competitive market.
This ultimately gives rise to the question—How can recruiters hire better on a limited bandwidth of resources?
Trimble Inc. is a California-based developer of Global Navigation Satellite System receivers, laser rangefinders, and software processing tools. Before HackerEarth, the recruitment team at Trimble had to manually assess close to 30 candidates before filling out a position.
After using HackerEarth, the potential candidate pool from which recruiters could choose a candidate from came down to 10. HackerEarth was successful in filtering out almost 66% of the applicants before recruiters could step in and assess the remaining 33% to find the right candidate for a role. Using HackerEarth, Trimble was able to streamline its recruitment process and reach out to more qualified candidates in a short span of time.
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