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The Peer Benchmarks feature is built in to Talent Compass Dashboards and allows you to track KPIs against companies with similar profiles.
This includes the benchmark data for “Time to Hire” and “Offer Acceptance Rate” across >1,400 different slices and different formats. Every benchmark is validated by >=100 data points across 20 or more companies.
The benchmarking categories that you can self-select into to compare yourselves to are:
Race / Ethnicity
The formats you can use are:
Percentile (better than X% companies)
Examples of When to Use Peer Benchmarks
When you are setting your own team’s targets for the quarter, year, etc.
When you are reviewing your team’s performance.
When an executive asks how you are they are doing compared to peer averages.
How to Use Peer Benchmarks
In Gem Dashboards, click “Add widget.”
Select “Average time to hire” OR “Offer acceptance rate."
You will then see the following on the left-hand side:
Under “Benchmark,” select how you want to compare your company data to benchmark (Median, Average, Percentile):
From there, you can self-select any of the relevant Benchmarking categories.
Default Benchmark Selection
If you are a Gem Admin, you can set team-wide default benchmark information for the following:
If team-wide defaults are set, they will be used to pre-populate the benchmark settings when adding benchmarks to a new widget.
If an Admin changes the values, it will not reflect in existing widgets.
Benchmarks are configured per-widget. Every user looking at the same widget sees the same benchmark.
How to Set Up Team-Wide Default Benchmark Settings (Gem Admins only)
Navigate to the Additional settings tab under the Admin dashboard.
From there, you can make your default settings selections.
These benchmarks are available on bar charts showing candidates in one of the three supported stages (Application Created, Offer Extended, Hired), broken down by either race/ethnicity or gender.
The following 6 combinations are possible in bar charts:
Gender ratio at App Created
Race/Ethnicity ratio at App Created
Gender ratio at Offer Extended
Race/Ethnicity ratio at Offer Extended
Gender ratio at Hired
Race/Ethnicity ratio at Hired
Not every combination of filters will work. You may see the following message in red:
These benchmarks are only available for the “Offer acceptance rate” and “Time to hire” widgets (more coming in the future!).
Have any questions about this feature? Please contact our Support team at email@example.com for assistance.