What Executives Need To Know About Tech Hiring Metrics

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What Executives Need To Know About Tech Hiring Metrics
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Tigran Sloyan is the cofounder and CEO of CodeSignal, a technical interview and assessment platform. Read Tigran Sloyan's full executive profile here.

In today's business climate, software engineering is the engine that powers innovation across sectors. Hiring technical talent with the right skills is, therefore, not just a recruitment challenge; it's a strategic imperative. As the CEO and co-founder of a technical interview and assessment company, I frequently witness enterprises grapple with how to measure the efficiency and effectiveness of their tech hiring processes in order to better scale their engineering teams.

For software engineers, we can evaluate the quality of hire through post-hiring performance reviews, contributions to the codebase or the time required to become productive in their new role. Using objective skill assessments during the hiring process can also predict job performance with high accuracy;, skills-based hiring is five times more predictive of job performance than hiring based on education.

When hiring technical talent, cost-of-hire calculations must also include the time investment from your engineering team in screening, interviewing and onboarding new hires.found that the engineering team incurs six times the cost that the recruiting team does to make one technical hire. The longer the hiring process, the more it diverts your engineers away from their core responsibilities.

Why is this metric important for you? Every dollar or hour saved in the hiring process can be reallocated to business-critical activities that drive growth and innovation. A streamlined, efficient hiring process is a competitive advantage.Executives often find themselves in a race against time to fill talent gaps at their organizations, especially for technical roles.

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