Even if\r\nrecruiting seems to be all about writing job descriptions, screening and\r\ninterviewing candidates, or processing orders from clients, there's one more\r\nthing every recruiter is supposed to do in order to further enhance the entire\r\nprocess. Monitoring key recruitment metrics, a task often forgotten by many\r\nrecruiters, helps to save time and render the process much more effective. Here\r\nare 7 essential metrics you need for your businesses to thrive on talent and\r\nexpertise of top candidates on the market.
"},"body":{"body":"Even if\r\nrecruiting seems to be all about writing job descriptions, screening and\r\ninterviewing candidates, or processing orders from clients, there's one more\r\nthing every recruiter is supposed to do in order to further enhance the entire\r\nprocess. Monitoring key recruitment metrics, a task often forgotten by many\r\nrecruiters, helps to save time and render the process much more effective. Here\r\nare 7 essential metrics you need for your businesses to thrive on talent and\r\nexpertise of top candidates on the market.
1.\r\nConversion rate
This is\r\neasily one of the most important metrics for recruiting. Conversion rate\r\ndisplays the number of users who clicked on your posting and completed the\r\napplication managed by your applicant tracking system. The metric basically\r\nshows you whether your job postings attracts candidates, but it's also\r\nessential to spotting problem in your application process.
Before\r\npublishing a posting, check how it performs in different browsers. This is how\r\nyou ensure that candidates don't run into technical issues while applying for a\r\nposition. Developing an application process without measuring its conversion\r\nrate is simply inefficient and will make you loose some of the great talents.
2.\r\nClick-through-rate (CTR)
The\r\nclick-through rate refers to the number of people who saw your job ad divided\r\nby the number of clicks the posting actually received. CTR is the best metric\r\nout there to assess the quality of your job posting titles. If they receive\r\nplenty of impressions, but very few candidates click on them, it means that\r\nyour titles are unclear, unattractive or simply irrelevant.
Your goal\r\nis to attract and maintain candidate’s attention long enough for them to check\r\nout your posting. A high CTR means that you're doing a good job with your\r\ntitles. To boost your CTR, try different title formats – you can add locations,\r\nexperiment with punctuation or use calls-to-action.
3.\r\nCost-per-acquisition (CPA)
Cost-per-acquisition\r\nis basically the expenses of your marketing and employees divided by the total\r\nnumber of your followers. Once you're measuring it, it's a good idea to check\r\ncost-per-application as well – it shows you the cost of getting one candidate\r\nto apply for a job. You can check which platforms and job boards bring you best\r\nresults and are most cost-effective. At the same time, you will be able to\r\nestablish which platforms fail to deliver top talents to your business and only\r\ngenerate losses. Once you have done that, it's usually a good idea to further\r\nstrengthen your efforts with the former ones, while getting rid of the latter.
4.\r\nInfluence
The\r\nstrength of your recruiting strategy to a large extent depends on your\r\nreputation as an employer. And social media are the best when it comes to\r\nboosting your employer brand. This is where the metric of influence is most\r\ntelling. Use social listening tools like Facebook Grader or Twinfluence to\r\ncheck key data about your social media presence and do your best to reach,\r\nengage and convert more candidates.
5.\r\nBlogging data
Since most\r\ncompanies run blogs, it's clear that you can also use a platform like that to\r\nbuild a strong employer brand. Measure the number of visits to learn which\r\ntypes of content resonate most with your audience. It's a good idea to track\r\nthe source of these visits – are candidates checking out your company blog\r\nbecause they've seen your social media profile first? Or maybe they Googled\r\nyou? Knowing how candidates learn about your brand and which outlets engage them\r\nenough to follow a link and check you out is extremely valuable.
6.\r\nSocial engagement
Another key\r\nmetric for checking how many candidates are actively engaging with your\r\nemployer brand is social engagement. Track the number of followers who join\r\ndiscussions on your profiles, and make sure to measure the ratio of good to bad\r\ncomments. You should also measure the engagement on your careers website. What\r\nyou should track is the average length of visit per candidate. It shows you the\r\nextent to which candidates are engaged with your brand and whether your\r\nrecruiting message resonates with them.
7.\r\nReturn-on-investment (ROI)
You can't\r\nbuild a recruiting strategy without periodically checking your ROI. It shows\r\nyou whether all your activities add up to make for a strong and effective\r\nrecruiting system. Compare how much you spend and how much you gain in return,\r\ncheck the positive business impact of your hires and deliver reports to\r\nsupervisors showing that investment made in recruiting pays off. Compare your last\r\nyear's ROI with the current one and be sure to check the ROI of other business\r\ndepartments.
Without\r\nrecruitment metrics you won't be able to monitor the performance of your\r\nrecruiting strategy or adjust when something changes in your business or industry.\r\nHave a look at these metrics regularly to keep tabs on what's happening on the\r\njob market and build a solid employer brand that attracts and converts the most\r\ntalented candidates out there.
"},"authorName":"Simone Cormack","authorBio":{"authorBio":"Simone Cormack is a part of the team responsible for the growth of eFax - the world's largest internet fax service. Interested in all aspects of growing a successful business, Simone often shares her knowledge with other professionals online."},"publishedOn":"2016-05-02T09:27:08.237Z"}},"pageContext":{"id":"748229f6-6fc2-5bb8-ad19-d0e10e85c87a"}}, "staticQueryHashes": []}