Most recruiting organizations are measuring huge amounts of data in their recruitment marketing process. From recruitment funnel metrics to Career Site traffic to SEO keywords to source of hire metrics, these organizations have a wealth of data to analyze in order to help them make better recruiting decisions.
To be successful, it’s not just important to make sure you are tracking the right recruitment metrics but also that you are utilizing them to make useful insights that can help improve your process and overall recruiting results.
The recruitment metrics you are currently capturing can tell you a number of different things that can help improve your process. Let’s take a look at the different metrics you are capturing and how they can help you gain insight:
Recruitment Funnel Metrics: When you track your recruitment funnel, it’s important to track views, apply clicks, contacts and applicants for every recruitment source you use. Comparing these metrics in the aggregate as well as per recruitment source can help you identify potential bottlenecks in your recruitment process. Here are a few to take a look at:
Source of Hire Metrics: With source of hire metrics, you are measuring the quality of the candidates coming from a particular recruitment source (job board, niche site, social network, etc.). With these metrics, you can truly see which recruitment sources give you real value and which don’t.
When using these metrics it’s important to track this on an aggregate level to get an overall view of recruitment source success (the more qualified candidates the better) as well as by job type or category in order to understand how recruitment sources do at attracting certain types of candidates (i.e does Dice perform better than other channels for tech talent?).
Lastly, these metrics should be tracked in coordination with cost in order to figure out the overall ROI that a recruitment source provides. This can help you update and change your recruitment marketing mix in order to get the most out of your recruitment budget.
Career Site data: For many recruiting organizations, the Career Site represents their recruiting hub. The two main things you want to know about your Career Site is how candidates got to your site and most importantly what content influenced them to ultimately apply for the position.
Recruitment organizations are starting to realize the power of the data they are capturing and the importance of having it all in a centralized location. Organizations don’t want to have to access their data from several different systems or technologies but want to compare it side by side with one another. And it makes a ton of sense.
In order to make the best use of the overall recruiting budget, organizations need to understand what activities are providing the most value to your ultimate goal: making great hires. From job distribution campaigns to job boards, niche sites, etc. to social recruiting to candidate sourcing to employer branding campaigns on the Career Site to hiring events, you want to compare and contrast the cost and ultimate value that each of these activities provide in achieving your goals.
With this insight, you can truly improve and optimize what you are doing from a recruiting and sourcing perspective with every job you recruit for.