Recruitment today is marketing and, as such, must be measured to determine ROI and to identify inefficiencies that can be optimized to improve that ROI.
If we’re to think of recruitment as marketing, then we must consider the marketing funnel, adapted for recruitment. End-to-end (E2E) cost analytics provides a data-driven framework to measure your full life cycle of recruiting. As we can see, talent acquisition professionals need to track metrics from the top of the funnel (traffic to jobs) to the bottom (hires). The ability to do so is the ability to track recruitment analytics from one end to the other.
Unfortunately, tracking and measuring end-to-end job analytics can be very difficult for even the most sophisticated of recruitment marketers.
Consider this: job boards, aggregators, and other employment websites that talent acquisition professionals post their open positions to allow recruitment professionals to track top-of-the-funnel recruitment metrics. These metrics are typically impressions, clicks (job traffic), and sometimes applications. However, once the applicant is in the employer’s hands, these employment sites don’t offer metrics to track these candidates through to the bottom of the funnel -- the hire.
This is where applicant tracking systems (ATSs) are most important. Industry-leading ATS providers allow their clients to track bottom-of-the-funnel metrics like phone screens, submittals, interviews and hires. These metrics, and many others in between, help complete the E2E recruitment funnel, but understanding how your recruitment marketing efforts are playing throughout the funnel can be difficult to see and understand.
For even the most advanced talent acquisition professionals, tracking a candidate from one end of the funnel to the other is a time consuming task -- it can be a full-time job. Even with the time and expertise available to execute this type of data analysis, the constant switching between dashboards and migration of data can skew results, and associating cost to these funnel metrics is often impossible at any level of granularity.
Recruitics Analytics provides talent acquisition and staffing professionals with E2E recruitment metrics. The insights provided through the platform allows users to track candidates from their first click to hire, connecting the top and bottom of the recruitment funnel in one easily understood and accessible dashboard.
With end-to-end analytics, talent acquisition professionals can have a more holistic view of their recruitment marketing efforts and gain more actionable insights from the data they’re processing. Also, this data not only identifies potential gaps in the recruiting process, but can highlight what’s being done well. For example, with E2E recruitment metrics, a talent acquisition professional can not only see which sources provide the most applicants, but also the most hires -- and then allows the user to dig even deeper into their data.
However, if you're not tracking your data, you don't know how your investment is performing. Without the data to support your efforts, all you can do is guess and hope your efforts are working -- which is not a sound recruiting plan.
With Recruitics Analytics, users have the ability to identify which job category, location, and even recruiter (if they choose) is producing the most interviews and hires. This can help talent acquisition professionals not only better understand their efforts, but clearly and easily see which of their talent requires more resources and which can have resources allocated away from them.
By tracking candidates through the funnel and not stopping once they’ve left the employment website, talent acquisition professionals can better understand demand -- which can make spend predictable. Also, they can understand exactly how much traffic they need to generate a hire for a specific job in a specific region from a specific source or vendor.
With proper recruitment marketing data, you can intelligently plan for future talent acquisition needs, instead of shooting in the dark.
In short, Recruitics Analytics allows talent acquisition professionals to truly understand how they are interacting with talent and how to most efficiently move them through the funnel and into interviews that eventually lead to hires.
To learn more about how you can leverage end-to-end recruitment analytics to better understand your recruitment marketing efforts from click to hire, contact Recruitics today.