Recruiting Metrics Businesses Should Consider

Recruiting metrics are used to gather and analyze information to improve a business’ hiring process. Recruiters and stakeholders must remain aware of evolving trends to successfully manage turnover.

Sourcing Quality Hires

Recruiting managers are deployed to proactively leverage the sourcing channels used to hire quality recruits. Some of the most common sourcing channels include referrals, recruitment agencies, resume search, social media shares, notifications, career sites, and other job boards. To ensure recruiter efficiency, metrics and activities reported in a timely manner can identify potential problems and opportunities for improvement.

 

Pipeline Development

A key business goal is to develop a pipeline of quality candidates, which hiring managers can call upon when positions have to be filled. This facilitates easy tracking and monitoring of leads, while also managing traditional metrics, such as the Interview-to-Offer Ratio (the number of interviews to the number of offers extended) and Offer-to-Acceptance Ratio (the number of actual hires versus the hiring goal).

 

New Growth Attrition Rates

In some cases, more time is spent on replacing employees instead of growing the team. Some businesses experience higher turnover rates in particular industries, which can result in high vacancy rates. Lower turnover is a main indicator of the effectiveness of the recruitment process. It demonstrates that real value is being contributed to the growth and success of the business.

 

Performance Dashboards

To benchmark performance success, dashboards create a snapshot of key performance indicators for further examination and analysis. For instance, the amount of revenue generated is a clear indication of whether a growing organization should hire. They also act as a tool to measure productivity.

 

Candidate Satisfaction

Satisfaction ratings can provide essential feedback from new hires and employees who are seeking opportunities for internal mobility. From the candidate’s perspective, feedback from the interview process through post-recruitment surveys can influence the company’s recruitment strategy. The surveys can identify gaps in the recruitment process and provide critical information for the improvement of recruitment campaigns.

In the information age, many businesses have implemented software tools, such as the Human Resource Information Systems, which aid in facilitating easy review of pertinent human resources functions. Most importantly, this system software encompasses metrics for monitoring and tracking recruiting data. Success factors can be achieved when a business efficiently and effectively understands the benefits derived from making investments in the Human Resource Information System.

 

L. Chadee | Contributing Writer

More Than Just Resumes: How LinkedIn Can Benefit Your Business

A LinkedIn account may seem crucial for a job seeker, but less important for a small business. However, with more than 500 million members now on the professional platform, it’s worth it for all businesses, big and small, to create a profile.

LinkedIn is different from other social media platforms because it focuses on professional content while fostering connections between businesses as well as people. A company profile can draw in potential customers and attract new employees in addition to promoting itself and sharing various content.

A personal account is necessary to set up a company profile, but joining LinkedIn is free. Once the business account has been created, you can utilize ads to promote company news to specific audiences and get even more personal by dropping personalized ads into your customers’ inboxes. Posting videos on the platform is a new tool for reaching and expanding your audience. Videos are among the most popular forms of online content, and they allow you to convey your company’s message in seconds. Your subsequent marketing efforts can be improved by studying engagement analytics and website demographics, tools that allow you see what kind of LinkedIn users are visiting your page.

Customers aren’t the only people you’ll want to connect with on LinkedIn. Since the platform is designed for networking, tapping into the contacts of first-degree connections can grow your network and potentially even grow your business. Maybe the right partner for a joint venture you’ve been considering will be a second-degree connection, or you’ll find that new team member you’ve been looking for as a third-degree connection.

Or perhaps you want to meet like-minded entrepreneurs or managers for mentorship or advice. Joining a LinkedIn group can make you new friends, and there are groups for every niche. You might find the right person to bounce ideas off or simply build a new friendship. Be active in the groups, but don’t try to use them to promote your company’s services or products, as it’s considered bad form.

If you want to position your business as a leading brand in its industry, consider LinkedIn Publishing. You can write longform articles that connect people with your brand and help them understand what your company is all about. This not only builds your reputation as an expert in your field, but it also builds interest in your business as readers become potential customers. Make sure you post on a regular basis, share what matters to you, and provide glimpses of the company culture. You could even write about the causes your company stands behind. You can go as far as using original images featuring actual employees. LinkedIn Publishing provides the opportunity to show that there are real people behind your brand.

Your business may have a subcomponent or a specific initiative you want to highlight. LinkedIn’s Showcase Pages helps draw attention to those specific areas of the company and members can follow them.

There are more tools to personalize your company’s profile and build brand awareness. With a detailed page that fosters engagement from audiences and employees, LinkedIn remains a proven way to lure in potential clients.

– Josephine Mwanvua