Welcome back! We hope you’re ready to learn more about recruiting metrics and how they can help you improve your hiring practices in order to seek out the most valuable candidates for your company. In our previous blog post we talked about the importance of these measures and why you should implement them into your current process. We are here today to talk more about how important they are as well as offer a few more metrics that will work well for your business!
Measuring where candidates come from, how effective the hire was and other activities is key. There are also other metrics out there that work well which we will be discussing below. Did you know that free recruiting software can free up hours of your day? Keep reading, at the end of the post we’ll tell you how you can use Recruiteze for free!
The Most Important Metrics for Your Tracking
How long does it take your company to hire a new employee? Think about it in terms of from the time the vacancy opens to the time the new candidate starts working. It’s possible that it could take up to a month before a new worker starts. Of course, they might apply and accept your offer quickly, but it might take two weeks from that point to get them in and working.
Stronger talent management procedures will actually help eliminate time consuming issues. Try using this metric to get candidates started more quickly or to shave time off of the overall hiring process.
As we mentioned last blog post, knowing where your applicants come from is the number one metric that should be tracked and used at all times. Most companies use only one or two channels to help them recruit. First off, consider upping that number. Use multiple sources. Job boards, social media, print ads and more.
Tracking where these applicants come from include the following:
- How many candidates were brought in from each source?
- How many applicants from each source were completely qualified for the available position?
- Which source did the best candidates come from?
- Where did qualifying candidates find out about open spots?
- These metrics need to be kept in a database that can be cross-referenced over periods of time. Keeping tabs of this metric will save you money in the long run as it will highlight the effectiveness of your various channels.
If one channel is proving to be ineffective, you have justification to shut it down. Similarly, if one channel seems to be producing a higher than expected ratio of qualified candidates, you can focus more resources in that direction.
It’s possible that you’re spending way too much money hiring candidates that aren’t the best asset to your company. Consider the following to ensure you aren’t spending too much in the wrong places. Are you spending money on the following:
- Want ads for newspapers, radio and other publications?
- Social media accounts? Setting up and maintaining them as well as paid ads through the sites?
- Interviewing processes?
- Recruiter fees?
- Administrative, contracts, health benefits, accounting and more?
If you’re spending a great deal of money on these, think about ways to cut down on costs. Could you combine interviewing processes or stop posting want ads in the newspaper because they’re not generating the right candidates? Really consider what you’re spending on the overall hiring process and cut costs where possible.
Are your postings on job boards or print ads compelling?
Better Job Postings
Are your postings on job boards or print ads compelling? Do they stand out and call to professionals? If you’re not getting a great call back on positing via these sources, consider writing better posts.
According to LinkedIn.com, “By writing more compelling postings, you’ll be able to improve both statistics 3-4X. To gain a sense of your overall job board effectiveness, just ask those who do apply how long they’ve been actively looking for a job and why they responded to your opening.”
Making sure you have a great handle on the talent that comes in for interviews will ultimately help you have a low amount of open positions within your company. This helps cut down on recruiting needs, overall. Work on how your team manages the candidates that apply for jobs so that you’re able to get a clear idea of what type of talent you’re searching for and hoping to hire.
Offers and Acceptances
This measure can be very time consuming and costly. While you want to offer an amazing candidate a job, what if they don’t accept it? You’re back to searching and interviewing. Do you give out formal offers far more than you should? How much time do you spend backtracking, once a candidate doesn’t accept an offer?
This metric can also help you with cost of hiring as well. Make sure your offers and acceptances ratio is one that isn’t costing you time and money.
Free Recruiting Software
You’ll be able to utilize recruiting software to help you with all your hiring needs. The following benefits can be gained from incorporating a program like Recruiteze and iReformat:
- Automated Resume Formatting
- Bulk Upload
- Configure Time Zone
- Contact Candidates from Recruiteze
- Create a Careers Page On Your Website
- Custom Job Code
- Duplicate Prevention
- Online Job Applications
- Reporting and Analytics
- Responsive Design
- Resume Parsing
- Resume Upload and Parsing via Email
- Unlimited Bulk Emails
- Unlimited Candidates and Resumes
- Unlimited Email Templates
- Unlimited Job Requisitions
Costly software might seem like it’s not a good fit for your budget for now, and that’s OK. That’s why you should consider using Recruiteze. For small operations and large ones alike, using these metrics will ensure you run a recruiting process that uses best practices for ultimate results! Good luck implementing these useful methods within your current process!
Free Recruiting Software | Recruiteze
Choosing the right free recruiting software for your business is easy with help from Recruiteze.
Recruiteze is a powerful online applicant tracking system that allows your job candidates to apply, and be added to your database immediately. End-users can access candidate resumes online and make changes quickly. Recruiting based on client needs has never been easier with your custom job board. It allows candidates and customers easy access to information and creates a level of professionalism expected in today’s marketplace. iReformat allows you to format up to 10 resumes per month, for free! In addition, we are proud to offer you a free 15 day trial of any of our other memberships! Other packages start at $10 per month, as well and offer unlimited support, users, and more! Contact us for more information!