Keep up with the latest hiring trends!
In the recruitment world, each recruiter is judged on their performance. Today, companies are becoming increasingly more aware of the importance of measuring their team’s performance. KPI’s allow managers to spot top performers, pipeline creation and it can also highlight those who might be slacking.
Although KPI metrics are an excellent resource for managers, they can also benefit the individual who’s being measured. They act as a building block for keeping employees on track whilst also clearly outlining their goals. From a recruitment strategy point-of-view, KPI’s can highlight what’s working and what’s not. Therefore, giving you time to adjust your strategy for the better and boost your chance of getting more candidates into your pipeline!
1. Time To Hire
The time of hire is important to look at when mapping our your teams KPI’s. You need to know how long it will take you to fill the vacancy, whilst also studying where there is a bottleneck in your pipeline. Track how long it took to source your candidate and then look at how long it took for your team to react.
Of course, it goes without saying that you don’t simply hire someone for the sake of filling that position. Hire someone that is qualified for the task at hand. However, on the other hand, the longer the position is left open, the more money the business is losing. This can ultimately lead to a less productive company due to that role not being filled. Important points to look at when filling a job are;
- How long the vacancy was advertised across all platforms.
- When you identified the candidate.
- How long it took for your team to react.
- The average time it took to interview the candidate.
- The time it took to make a decision on that candidate.
- How long it took for the candidate to accept the offer.
2. Candidate Satisfaction
Although the war for skills is well and truly underway, that’s not to say the war for talent is DEAD. To ensure you’re attracting the best possible candidates, it’s important for recruiters to always be in touch with their candidates. This starts at the pre-interview stage. Remember, if a candidate has a torrid experience, they are more likely to share this experience with family, friends or work colleagues.
The point is, this can severely damage an agency’s rep and could well scare people away – something you do not want as an agency recruiter! Bill Boorman has touched on this subject many times recently saying;
“The candidate experience is those who come into connection with your brand, they go and visit your Careers site, the experience they have should be very similar to a retail experience to walking into a store, you expect to be treated in a certain way”.
So how can you track this data? First off, ensure that all your team has put the correct data into your ATS or CRM. Look at what modes of communication they’re using to contact each candidate. Are they doing this consistently throughout the working week? Are they engaging with candidates effectively? Measuring this will give you clear insight into what needs to be adjusted when it comes to candidate outreach.
3. Placement Count
Many of the top recruitment minds stress the importance of this golden metric. As our good friend Greg Savage says – ‘How many of your candidates are sitting opposite your clients?’. At the end of the day, that’s exactly what you want as a recruiter. To be sending quality hires over to your client that ultimately get the role.
Of course, you can’t talk about placement count without mentioning employee retention. Think of this metric as a double-edged sword. A recruiter can make all the placements in the world – and props to them! But those placements don’t mean jack if they end up leaving after a week or 2. If your candidates are packing their bags and leaving early – check the stats! Question yourself and improve who you put forth to interview.
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