Recruiting Analytics and Why They MatterApril 2, 2019 11:02 am
If you are recruiting employees without any clear-cut policies, you may chance upon a few good hires, but your processes will ultimately suffer without any sort of blueprint to guide you. Simply put, recruiting at random is a disposable experience that has no future value to the company.
Recruitment, just like other aspects of a business, must be analyzed to ensure that effective processes are in place. This analysis can serve as a guide for ongoing recruitment practices in the company. Every hiring experience is a great opportunity to fine tune your procedures and broaden your network of potential candidates that could be tapped for future hires.
Metrics to optimize recruiting
Here are just a few reports that can provide useful data for improving your hiring practices.
1. The candidate source report
How did your clients find you? Was it an internet ad, the postings on your social media platforms, a help wanted sign on your building, or internal referrals? Knowing which leads are generating the most applicants can help you know the best ways to publicize future jobs.
2. The hiring velocity report
This report reveals the average time it takes to move a candidate from the application or source stage to any stage in the hiring pipeline. The report can be instrumental in spotting inefficiencies and pain points in your hiring processes. It can also help you determine how long it takes to onboard an employee so you know how far in advance you need to start looking for similar hires in the future.
3. The workflow report
This report looks at all hiring team activities and determines where the most recruiting effort is spent – from the initial screening of the applicants to the final interview. This analysis helps you allocate your hiring resources appropriately.
4. Candidate breakdowns
With many candidates for just one position, you can end up with a mess of information swirling around in your head. This report can systematically track all of a candidate’s details, allowing you to keep applicants straight, compare and contrast their attributes, and choose the most qualified one. And just because one of those candidates may not be right for one position doesn’t mean that you won’t want them for another, so you can draw on this report for filling other jobs rather than starting from scratch with all new candidates.
Recording hiring metrics will make you more efficient now and in the future and help you make the best hiring decisions, too.
Recruiting is no small process and must be done strategically. That said, if you want to leave the process to the experts, consult with an employment staffing firm who can give you access to the best and brightest applicants in fields of all varieties. These qualified companies can handle everything from administrative staffing recruiting to executive search services. While some organizations adeptly manage recruiting in-house with the help of smart analytics, others find it most economical and effective to outsource it to a reputable employment agency.