Recruiting metrics may seem like extra effort or just one more report to look at each month, but actually, recruiting metrics can provide a foundation for persuasion, comparison, and problem-solving that you wouldn’t have without them.
Recruiting metrics rock when you need to convince upper management that your organization needs to implement social recruiting. Or when you need to compare recruiting software or job boards to decide which ones are best for your company.
Recruiting Metrics provide the factual data about your processes to help you solve recruiting problems that are costing you money or losing candidates.
1. Metrics are Effective Tools for Persuasion and Negotiation
Recruiting metrics provide measurements of things that matter in recruiting negotiating advantage.
If your company spends money on job board contracts, recruiting metrics that show you aren’t getting the same value from your contracted job postings as other avenues not only helps make decisions about keeping or dropping job boards, they can be used in negotiating better deals for more services at lower costs.
Metrics can provide the evidence needed to make changes in recruiting processes. If you test a new social media platform for recruiting that produces better results than your current methods, recruiting metrics can help you convince upper management that changes are needed and effective.
Metrics that track results of specific recruiting activities can reveal the most effective ones to focus on.
If you’re paying for six job boards but metrics show you’re getting the most quality hires from only two of them, you have solid evidence on which to base recruiting management decisions to drop or cut back on under-performing boards.
2. Metrics Give You Solid Comparisons
You need good data to make good decisions, and recruiting metrics provide solid comparative data to make good recruiting decisions. Well-designed recruiting metrics take two or more similar choices and compare them based on important information common to both.
An example would be comparing the performance of job boards you are using or want to use. Track the results that are important to your organization during a test period, such as number of applicants, number of hires, and associated costs from the job boards you are considering.
Metrics provide the comparisons you need to make good decisions accurately and quickly to get the results you need from recruiting.
3. Recruiting Metrics Help You Uncover the Source of Recruiting Problems
Recruiting metrics can provide the information you need to uncover and understand the source of recruiting problems.
For example, if you are spending half your recruiting time on a few top social recruiting activities but are not getting the quality hires you need from them, measuring your efforts and results in each area of social recruiting helps you see which ones produce more candidates.
Further metrics that measure how many candidates complete your application process and result in hires helps you see where in your social recruiting process hires are happening or falling off.
This kind of information allows you to tweak your process to improve it based on accurate measures, not guesses or gut feelings about how or why you are getting the types of results you have.
Which recruiting metrics should you use to measure the results of your recruiting process? That depends on a few factors, such as where you want to make improvements and what’s important to your company’s recruiting needs. If your recruiting budget is being cut or expanded, metrics that measure costs will be important. If you are losing candidates in the recruiting process, use metrics that measure candidate sources and how many offers result in successful hires.
Whatever part of your recruiting process you need to measure, develop recruiting metrics to provide the data to persuade management to make changes and improvements and solve your recruiting problems.
Andrew Greenberg’s roots in recruiting date back to 1996. He has experience both on the agency-side and corporate-side of the staffing business, with a focus in the financial services space at companies like Bloomberg and UBS. He also has core experience with information technology staffing, and has worked for major software companies such as SAP Business Objects and IBM/Informix Software. To get in touch with Andrew, you can reach him by email or by phone at (800) 797-6160.