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Peer Benchmarks

Overview

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 "Passthrough rate", “Time to hire”, "Time in stage", 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:

  • Company Size

  • Company Location

  • Gender

  • Race / Ethnicity

  • Department

  • Industry

 

Industry Definitions in Gem

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The Formats You Can Use

  • Average

  • Percentile (better than X% companies)

 

Requirements

You must have access to Talent Compass (Pipeline Analytics & Dashboards) Advanced to use this feature. If you don’t, you can reach out to your Gem Account Executive or Customer Success Manager to learn more.

 

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

  1. In Gem Dashboards, click “Add widget.”

     

  2. Select “Average time to hire” OR “Offer acceptance rate" from the Widget Library, or select the "Time in stage" OR "Passthrough rate" metrics:

    Screen Shot 2022-11-21 at 3.38.25 PM.png

  3. You will then see the "Benchmarks" tab at the top:

    Screen Shot 2022-11-21 at 3.34.05 PM.png

     

  4. Under “Benchmark,” select how you want to compare your company data to benchmark (Average or Percentile):

    Screen Shot 2022-11-21 at 3.35.44 PM.png

     

  5. From there, you can self-select any of the relevant Benchmarking categories.

    Screen Shot 2022-11-21 at 3.34.35 PM.png

     

Default Benchmark Selection

If you are a Gem Admin, you can set team-wide default benchmark information for the following:

  1. Company size

  2. Company location

If team-wide defaults are set, they will be used to pre-populate the benchmark settings when adding benchmarks to a new widget.

Please note:

  • 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)

  1. Navigate to the Additional settings tab under the Admin dashboard.

  2. From there, you can make your default settings selections.

    Screen Shot 2022-11-21 at 3.43.27 PM.png

     

DEI Ratios

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:

  1. Gender ratio at App Created

  2. Race/Ethnicity ratio at App Created

  3. Gender ratio at Offer Extended

  4. Race/Ethnicity ratio at Offer Extended

  5. Gender ratio at Hired

  6. Race/Ethnicity ratio at Hired

 

Current Limitations

  1. Only consecutive stages are supported for Passthrough rate benchmarks (for example: App > pre-onsite, pre-onsite > onsite). Stay tuned for updates here!

  2. Not every combination of filters will work. You may see the following message in red:

 

Have any issues or questions on this topic? Please feel free to contact your dedicated Gem Customer Success Manager directly or our Support team at support@gem.com.

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