In the last articles, we focused on topics of how to motivate candidates on career pages to send their CVs and how to avoid the so-called blockers. In the next article of the series on the theme of Digitalization of modern recruitment, we’ll take a closer look at the key recruiting metrics and how Smart Career Pages can affect them. Do you often hear questions from your colleagues such as “Why does it take so long to find people?” or “Why don’t I have more candidates for this position?”. If this is the case, be sure to read on.
The price-performance ratio
HR is often faced with the need to quantify and protect the company’s costs for its functioning. And especially, the recruitment department can easily become not only the black sheep of the company but also a black hole for expenditure. If the metrics below are not yet in your reporting, then keep in mind that they will certainly help you gain a stronger argumentative position. But most importantly, they will help you increase your recruiting efficiency.
Hiring Metrics, or recruitment KPI’s, aim to quantify the efficiency of the recruitment process. In order to get solid data, KPI’s (i.e. key performance indicators) must be measured continuously and on long-term. The data you obtain by measuring them can then answer almost any questions. The most common ones in recruitment are:
- How much time does the recruitment process take and how long are its individual stages?
- How many candidates should we choose for a position and is this number enough?
- Can we motivate candidates sufficiently during the recruitment process?
- Can we place the candidate in the most suitable position?
- What is the cost of “one recruitment” and what is the cost difference according to position/department/ hiring manager?
Then, we interpret quantified data qualitatively: how proficient are we, where do we have room for improvement, why are the same processes functioning differently across the company etc.? What are the recruitment indicators that we must measure and build with a mosaic of recruitment efficiency?
- The Candidate Pool
- Time to Hire
- Recruitment yield ratio
- Cost per Hire
- Quality of talent
- Quality of hire
- Attrition rate during probation period
The Magic Pair. ATS and Smart Career Pages
Nowadays, companies are commonly using an ATS (Applicant Tracking System) to manage their recruitment process. If you are recruiting for several positions at once and you want to maintain your employer brand, and at the same time build a database of applicants, then you are probably using an ATS. And if GDPR is not completely foreign to you, then here you have it. The ATS is invaluable during a particular recruitment process, but acts like a back-office administrative tool. However, if you are able to fill the ATS database sufficiently, you will be able to significantly reduce the cost of recruitment agencies on medium term. Not to mention that if you can “tap into” your own database, you will reduce Time to Hire and increase the chance to fill in the positions. These are candidates who have shown interest in working in your company in the past.
Smart Career Pages can fill the database of applicants 3-5 times faster due to the revolutionary candidate skills/ experience. At the same time, they help building your employer brand which influences the Quality of Talent and potentially the Quality of Hire, because it ranks open positions according to the candidate’s experience/skills. If you have limited resources (which is the case for most of us!) and you want to use your time and money to the maximum, you should also think about ways to automate processes. Smart Career Pages can parse data (i.e. allocate data correctly) from the applicant’s CV to the database, pre-fill the application form and send the candidate information on new job opportunities. This will allow you to have the much-needed time for a quality execution by eliminating administrative and repetitive operations
The jobno.one Solution
If you are looking as well for a digital recruitment process, we will be happy to design a suitable customized solution for your company. We offer comprehensive solutions for career pages, but also Economy options for smaller businesses. No additional programming will be needed in neither of cases – we have integration with ATS. We can also provide you with a complete automation of the recruitment process, including ATS and analytics. In as little as 2 weeks, you can transform your recruitment process from passive to active. With us, you collect CVs – not search for them.