Ongoing analysis is a normal part in the recruiting business. But, when it comes to recruiting metrics, it can seem like a confusing numbers game at times. Recruiting metrics are the black and white measurement of the success of a recruiter, oftentimes represented in reports and visual charts. These numbers are used to demonstrate various goals that recruiters consider to be beneficial to the clients they work with.
What do the numbers mean?
Unless you know what the recruiting metrics mean to your bottom line, they may seem useless at first. However, with a little insight, these numbers will begin to make better sense. In fact, recruiting metrics can be the best way you know that you are getting a solid return on your investment in your staffing programs.
To better understand what the numbers can tell you, these are the two biggest goals of analysis:
· Recruiting metrics are a quantifiable measurement that can be benchmarked against current standards of performance in the recruitment industry.
· Metrics help to predict the results and behaviors of the recruitment team in order to maximize each business’s return on investment strategy.
Professional recruitment firms use recruiting metrics in a variety of ways. For many, the numbers mean there is a way to measure each recruiter’s ability to place great candidates into assignments who will provide the highest benefit to clients. Metrics in recruiting are widely accepted as a means to prove this success, while also motivating overall recruiter performance and accountability. Recruiting metrics also shed light on the credibility and expertise of the recruitment team. Additionally, recruiting metrics can drive consistency and quality of recruiting services to clients, so ultimately they benefit from this partnership.
How can your business link recruiting metrics with business success?
The question you may be asking right now is how do these recruiting metrics actually relate to my business? The truth is that there is a very clear connection between the success of your recruitment practices and the outcome of your business profits.
· When recruiting metrics are favorable, this means the recruiting team understands and is a good fit for your business goals and mission.
· If the recruiting metrics improve over time, you can see the progression of how well the recruiter is serving your business and supporting team development.
· Recruiting metrics can provide your business with information regarding what’s working and what’s not working as you hire candidates for your team.
· Advancing the relationship between your management team and align the best recruitment services so your business can become more profitable.
· The metrics themselves are an indicator of the ability of your recruiters to hire for quality and help you retain a better workforce.
Using recruiting metrics to improve the bottom line of your business
When you are working with a professional recruitment firm, you should regularly be asking for access to recruiting metrics reports to see how well your business is doing with its recruitment efforts. Your recruiting partner should be able to review these reports to you and explain how the numbers relate to your current and future recruiting plans. Using this data can be instrumental in building a successful business and improving your bottom line.
Rule of thumb – if it can be measured, it can be evaluated for success!