In today’s competitive hiring market, it’s critical to continuously improve your hiring process to ensure you’re attracting top talent. But if you’re not measuring the success of your recruitment and hiring efforts, you can’t effectively improve over time.
Many hiring solutions – such as a simple applicant tracking system (ATS) or a human resources management system (HRIS) – either don’t provide the reporting your team needs to improve your recruitment and hiring over time, or they charge an extra fee for this data. By partnering with a recruitment CRM platform like Hireology, your team can drive hiring efficiency and profitability with our Insights solution– all included in your base subscription.
Whether you’re currently a Hireology customer who hasn’t yet tapped into our Insights solution, or are looking for a new recruitment marketing and hiring partner, we’ve pulled together an overview of how Hireology Insights can help your team drive business results.
Measure Your Recruitment Marketing and Hiring Health
Hireology Insights, easy-to-understand Q&A analytics, enable business owners and HR leaders easily access recruitment marketing and hiring data, and outline actionable next steps for improvement. Hireology Insights answer several key questions:
How fast am I hiring?
Any time your team has an open role, productivity is disrupted – which can lead to lost profitability as a result. In fact, the average business loses $1,000 in gross profit for each day a role is open. With Hireology’s Velocity Insight, your team can measure and improve time to hire with a clear understanding of: percentage of applicants reviewed, overall time to review and time spent in each hiring step.
Armed with this data, you can identify where candidates are getting held up in the hiring process – and outline ways to improve these steps. For example, if it’s taking your team too long to review applicants, you can consider implementing prescreen surveys to automate initial candidate review. By speeding up steps where candidates tend to get held up, you can decrease your overall time to hire, driving profitability.
Am I following my hiring process?
The Adherence Insight ensures your team follows an impactful, compliant hiring process by holding team members accountable for completing all steps of the process. The Adherence Insight breaks down: the percentage of hiring steps completed, the percentage of hires who completed all steps and the percentage of candidates with skipped steps.
Your team might be in a rush to fill open roles and skip certain steps in the hiring process – such as reference and background checks. But following every step each time you make a hire is critical to ensuring candidates are truly a fit for your team before extending an offer. The Adherence Insight can also help you hold team members accountable to following each step of the hiring process – by flagging if certain managers or locations are lagging.
Which channels result in the most quality applicants?
Many businesses make the mistake of investing a significant amount in one-off job board postings to fill open roles as soon as possible. But if your team has no way of measuring whether such recruitment marketing channels are driving results, you might waste money – and spend time on applicants who aren’t qualified.
Hireology’s Sourcing Insight enables your team to see which recruitment marketing channels – different job boards, your career site and more – drive the most quality candidates, which channels result in the most hires and overall job board ROI. This data can be used to optimize job board spending and eliminate sources that aren’t driving results.
Is my career site driving ROI?
Just as it’s important to measure results across all your recruitment marketing channels, you should also specifically measure whether or not your career site is working for you.
One of the latest enhancements to Hireology Insights is a career site ROI table. This table can show your team the following data about the performance of your career sites: Subscription cost, number of applicants, number of quality applicants, cost per quality applicant.
A career site is one of the best investments you can make in your recruitment efforts, driving as much as 50 percent of all hires and serving as a more effective investment than using job boards alone. By measuring whether or not your career site is driving results and putting steps in place to improve performance – such as updating your career site content – you can ensure your career site drives quality candidates.
The unemployment rate is at a record-low, making hiring highly competitive for employers across industries. If your team is facing challenges staffing up with top talent, you can tap into recruitment marketing and hiring insights like those outlined above to improve your hiring efforts and secure qualified candidates.
Start measuring the success of your recruitment marketing and hiring efforts to ensure you’re building your best team. Log in to Hireology and navigate to Insights.
If you’re not a current Hireology customer, get a demo to learn more about Insights.