Numbers may be quite useful in helping a firm construct a picture of the hiring process. The average time to hire through a firm recruitment site, for example, is 45 days. On average, businesses receive 118 applications for each available post.
Only approximately 17% of companies locate people with the abilities they want for their business. These figures demonstrate how complex the recruitment process may be.
Companies that pay attention to recruiting data can swiftly and effectively modify their approach to the techniques that produce the most significant outcomes.
Simplicant’s next-generation platform and applicant tracking system make it easier than ever to utilize analytics to determine what works and what needs to be modified in your process.
Here are some of the most popular recruitment metrics among hiring managers, as well as how they may assist your organization in expediting its hiring process to identify top talent:
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1. Where are your best applicants coming from?
Examining applicant sources critically might help you modify your recruiting approach to reach the most incredible talent pools.
For example, perhaps you’ve been devoting time and effort to ensuring that your opportunities are listed on the most popular job platforms.
Your recruiting staff believes this is a solid strategy because the best prospects constantly monitor these job boards for the most recent openings. Your recruiting metrics, on the other hand, reveal a different narrative.
All of your top prospects are coming from Twitter and Facebook, and it turns out. You now know that you should adjust your plan to focus on social media rather than spending so much time on job boards. Simplicity can help you market available positions on social media and communicate with prospects on various sites.
Rather than staying with a plan because “it’s always been done that way,” candidate sourcing analytics may help you alter directions for a better outcome, and your team can focus on the outlets that are truly providing you with the top applicants.
Read Also: Job hunting Strategies That Works
2. How much time do you devote to each phase of the process?
Do you get the impression that your hiring team has been stalled in the interview stage indefinitely? Perhaps you have! Simplicant’s time-per-status function comes in handy here for firms trying to expedite the recruiting process.
This basic analysis may significantly impact a hiring team attempting to determine how they are presently allocating their time throughout the hiring process and how they may better refocus their efforts.
Awaiting way too long in the basic application step before getting rejected or progressed to the interview step. When you look at the figures, you can see that you are skimping on the interview stage but really dragging things out when making job offers.
When you know how much time is spent at each step, you may redirect your team to focus on other areas of the hiring process.
3. How many of your recruits come from existing employees?
Employee recommendations were the leading source of external recruitment last year, accounting for 28% of all external hires. Employee recommendations are critical since they frequently lead to higher-quality applicants.
Your existing workers know the people they are recommending and describe how they would fit into the role and general business culture.
They are unlikely to suggest someone they honestly believe would not be a good fit because doing so would negatively reflect their own judgment.
Using referral rates, you may determine how many of your recruits came from existing workers. If the rate is too low, it may be time to reconsider your incentive scheme. Perhaps you’ve used cash bonuses when employees truly need more vacation days. An appealing incentive program can assist you in attracting the desirable employees your firm need.
4. How far along in the recruiting process is the candidate?
With so many people applying for every available position, it’s easy to lose sight of where prospects are in the recruiting process. This is why recruiting managers value Simplicant’s applicant status.
With a fast glance at the candidate tab, you can see who has applied for a position, what job they applied for, and where they are in the recruiting process. Even the most overburdened hiring manager can now take stock swiftly and efficiently.
If your department head or business CEO calls to inquire about the status of a current post, you can rapidly filter through to discover how many individuals are fighting for the job and uncover your top prospects.
5. How long does it take your organization to find its next superstar?
Perhaps your employment procedure, in general, is taking too long. Simplicant’s time-to-hire stats show you how long it takes on average for an application to become a new employee.
Simplicity also becomes more granular, allowing you to see how long it takes to fill each sort of job at your organization.
If your graphic design projects are flying by, but your communication jobs are dragging. This will help your team now understands where they need to focus their efforts.
Knowing where the top applicants come from, how many are recommended, where they are in the process, and how long it takes to complete everything is a smart approach to simplify your recruiting. You may use analytics to determine your hiring process’s strengths and shortcomings to handle your present needs more effectively.
What is the recommendation? Don’t expect to build weak performance, habits, and skills if you hire for your strengths. Build on the qualities that drew you to your new employee in the first place.
To increase recruiting, hiring, and retention of valuable personnel, every firm must start somewhere. The strategies and possibilities described here are your greatest chances for attracting top talent.
These suggestions can help your company prosper and develop. Creating a workplace that meets your requirements and the requirements of your future and present excellent workers.
Which of the following is some of your favourite hiring analytics? Leave your thoughts in the comments!