For most organizations, comparing recruiting KPIs against competitors has often been a challenge. Talent teams usually rely on word-of-mouth, ping random Slack communities, or hope to find a reliable benchmark report that has the specific metrics and segments they’re looking for. In fact, our customers often asked us, “What does good look like? How are your other customers doing in comparison to us?”
Fortunately for our customers, Gem’s first iteration of peer benchmarks is now available to all Talent Compass customers (check out the latest update with pipeline diversity benchmarks!). With this new update, our customers can review their recruitment metrics side-by-side with comparable benchmarks, right within their dashboard.
What Benchmarks Are Available?
As part of this first phase, our customers can compare their teams’ Offer Accept Rate and Time to Hire in 3 different formats: average, median, and percentile. Knowing that our customers want apples-to-apples comparisons, our benchmarks can be segmented across 6 different filters:
All told, there are 1,000+ unique combinations, empowering our customers to truly understand what good looks like, and how they compare. As we continue to invest in these capabilities, we will have more metrics and more slices available in the coming months.
How Is Gem Able to Offer This Data?
With access to a rich database of 1,000+ organizations across industries and segments, Gem is uniquely positioned to offer anonymized, competitive benchmarks for a number of key metrics. In fact, every benchmark is based on over 100 data points across 20+ companies. Since Gem’s customers are typically hyper-growth companies, these benchmarks give users insights into how they fare against some of the best recruiting organizations in the world.
What Additional Benchmarks Are On the Horizon?
We know how important these benchmarks are to our customers, and we know that there are a number of other KPIs they could use such insights on. As we continue to invest in this solution, we’ll prioritize the following in our next release:
Top-of-Funnel Outreach Stats (e.g. open & reply rates)
Full-Funnel Passthrough/Conversion Rates
Deeper DEI-Specific Metrics
If you’re new to Gem and/or interested in visualizing your recruiting KPIs side-by-side with peers, get in touch with a member of our team to learn more.
If you’re a Gem customer and want to learn more about how to get started or provide input on our next iteration, contact your customer success manager today!
Get Started With Gem Today
Source faster, build better relationships, and hire more quality candidates.