In follow up to today's RBC Daily and Kristina McDougall post - Metrics Schmetrics... How do I really know if my search is on track?
As a Recruiter - What is the most import metric to track at your desk?
The most important metric on my desk is the metric which tells the source of hires. Where are my candidates (the ones that are getting hired) coming from? Where did they find my job adveritsed or did they hear about it through word of mouth through some of my efforts. I want to capitalize on what is working.
The metric ratios that we track that allow us to figure out if we are on track to hit our annual goals are:
New Market Presentations to Clients : Job Order = should be 2:1 or lower.
Job Order to Placement = should be 2:1 or lower
Candidates Presented to Send Out = should be 1.2:1
$ earned per hour to Connect Time = should be $500 or higher
Candidate Presentation calls to Candidates presented = 3:1 or lower
If we don't hit these numbers in a week then we know exactly what to focus on the next week. Daily goals = weekly goals = monthly goals = quarterly goals = ANNUAL goals. We know for certain if we don't hit our DAILY goals, we won't hit our annual numbers.
Daily Live (Phone or Face to face) Conversations... Success follows if this is #1 focus..... (If it is about YOU its hard, if it is about SERVING CUSTOMER, its easy)
I watch the Submission to hire ratio ... If it hits 3:1 we need to re-visit the client.
Send-Outs.....If you don't have these you are not going to get a placement. The rest of the numbers and ratios take care of themselves and are good to track but it all starts with Send-Outs......
All the best,
Bullhorn and my company (data intelligence for staffing/recruiting) put together a business brief specifically on this topic. You'll need to register to download, but I think it would be worth it to see what leading recruiting companies are tracking.
If you don't know where your jobs are coming from it won't help to write it on a spread sheet.
If you don't know where your candidates are coming from writing it down won't find them.
If you don't know how many people you have interviewing by all means dummy write it down so you remember to call them and the client.
If you aren't finding at least three candidates to fit each job you are working on, you are spending too much time writing crap on spread sheets.
If you aren't developing new clients all the time and getting job reqs, hire somebody to write all that stuff down and go to work.
The numbers (i think metrics are best left to statisticians) that matter are the numbers on the deposit slip and the tax return. the rest of it is what statistical analysts do. What do you want to be when you grow up?
This is a question we cover in our yearly trends survey. Here's what recruiters said last year was the "most important metric to measure the effectiveness of your business?"
For "How do you track your most effective sales people?" the answers were:
You can read more here. Bullhorn will publish the 2012 survey results in a few weeks (thanks to the ~500 who participated!).
There is only one metric for a perm recruiters. (Assuming you can source, interview and match, you know how to take a qualified job ordered etc. In other words assuming you are a competent recruiter)
How many Candidates did you arrange to sit in front of clients this week?
ie Client/Candidate interviews
That number goes up...your $ go up
End of sermon
Yes John agreed, send-outs to interviews is a key measure. A low ratio indicates poor matching and/or poorly qualified job orders and uncommitted clients
The unacceptable metric(s) that points to: standing still; spinning wheels; and the most dreaded...falling back.