Use detailed reporting, recruiting analytics and meaningful insights to improve the overall effectiveness of your hiring processes.
Numbers can really help a company paint a picture of the hiring process. For instance, What is the average time-to-hire from a company career site? For each open position, employers receive about what number of applications on average? These numbers explain just how tough the recruiting process can be.
Companies can quickly and efficiently tailor their recruitment strategy to the practices garnering the best results if they pay attention to recruiting analytics.
Simplicant’s detailed recruiting analytics and reporting capability provides the insights necessary to understand the impact of various hiring activities. Simplicant’s intuitive dashboard provides a quick, visual overview of the key hiring metrics. Since Simplicant tracks everything, it is easy to monitor the impact of each activity, see what works and take the necessary actions to make changes to continuously improve the effectiveness of your overall hiring process.
Looking critically at candidate sources can be a great way to tailor your recruitment strategy to tap into the best talent pools. For example, perhaps you’ve been focusing on posting your jobs to the biggest job boards. Your hiring team thinks this is a good strategy because the best candidates are obsessively checking these boards for the newest positions. However, your recruitment analytics may tell a different story. If your recruitment data reveals that your best candidates are coming from your social recruiting campaigns, you know that you need to tailor your hiring strategy to focus on social media instead of job boards for the respective positions. With Simplicant, you can promote your open positions on social media and engage with candidates on these platforms.
Do you feel that your hiring team has been stuck in the interview stage for a while? Simplicant’s time-per-status recruiting analytics feature becomes really helpful for companies looking to streamline the hiring process. This simple analytic can make a real difference for a hiring team trying to figure out how they currently allocate their time during the hiring process and how they can better redirect their efforts.
For instance, perhaps your candidates are spending far too long in the initial application stage before being either rejected or moved on to the interview stage. Looking at the numbers via your recruiting analytics, you may find out that you are actually skimping on the interview stage but really drawing things out when it comes to making job offers. You can refocus your team to concentrate on the right aspects of the hiring process when you know how much time is spent at each stage.
Referral rates: How many of your hires are thanks to current employees?
At close to 30 percent, employee referrals have become the number one source of external hires.
Using referral rates, you can see just how many of your new hires have come from your current employees. It might be time to rethink your incentive program if the rate is too low. Perhaps you have been using cash bonuses when employees really want added vacation days. An attractive incentive program will help you get the attractive candidates your company needs.
Candidate status: How far along is the candidate in your hiring process?
It can be easy to lose track of where candidates are in the hiring process with so many candidates applying for every open position. This is why Simplicant’s candidate status in recruiting analytics is so helpful for hiring managers.
One quick look at the candidate stats and you can see every applicant who has applied for a position, what job they applied for, and where they are in the hiring process. Even the most overwhelmed hiring manager can quickly and efficiently take stock. When your department head or company CEO asks for the status of a current position, you can now quickly sort through and see how many candidates are vying for the job and find your top contenders.
Perhaps your hiring process is just taking too long in general. Simplicant’s time-to-hire recruiting analytics tell you exactly how long it takes an applicant to become a new employee, on average.
Simplicant also gets more specific and will allow you to see how long it takes to fill each particular type of job at your company. If your graphic designer jobs are flying by in a snap, but your communication jobs are lagging behind, your team will know exactly where they should be concentrating their efforts.
Knowing where the best candidates come from, how many are referred, where they are in the process, and how long everything takes is a good way to streamline your recruiting. With recruiting analytics, you can discover the strengths and weaknesses of your hiring process to address your current needs more informatively.