Use These 9 Crucial Metrics To Improve Your Recruitment Funnel!
Posted on December 20, 2021
The ever-increasing demand for quality employees puts a lot of pressure on HR departments. One of the best tools for recruiting managers is a recruitment funnel filled with quality prospects.
Given the volume of applicants for each open position, it can become challenging to effectively manage the recruitment funnel to meet the organization’s requirements. This challenge can be dealt with by breaking down the supposedly singular hiring process into various practical screening stages that can be accounted for.
It all comes down to developing a better means to track your recruiting process beyond just screening and shipping off candidates. Spark Packaging is helping companies nationwide in finding suitable candidates. We share several recruiting funnel metrics that should be a part of your recruitment funnel too!
1. Quality of the Hires
If new hires don’t feel comfortable in their new job environment, it can affect the team & the company. New employees should be sourced to positively influence their team and bring productivity to the workplace rather than just blend in. Measuring the success of the right candidate is excellent PR for future talent acquisition & productivity!
2. Recruitment Sources
Companies conduct college job fairs, use online job boards and professional platforms, but is that enough? The current generation is very social media savvy, making social media sites a good place for recruitment.
Job postings across online & print media, recruitment, and onboarding are all costly activities. They need to be tracked to ensure the optimal cost-effective marketing strategy. Utilize leads with the lowest expenses incurred and max quality of hire.
4. Applicants Cleared
This metric is a ratio of applicants who got cleared through the recruitment phases out of the original pool. It may be indicative of excellent hiring quality or a hiring vulnerability.
5. Ease of Application
Forms too complex to fill can discourage potential candidates from investing in a company. Measuring how many fill the forms, how many abandon them, and how many ignore them can help you design a better & simple form.
6. Visitor Conversion Rate on the Careers Page
If your company has a ‘Careers’ page and online application form, track the site traffic to know what improvements to add. This way, your website will be more attractive to the applicants.
7. Candidate Expectations
What an applicant presumes of your company is what the world assumes. Track this trivial detail to help your company’s PR & recruitment strategy.
8. Job Offer Acceptance Rate
If you have an excellent candidate turn down an offer, it’s best to have an exit interview or a follow-up to understand their reasons. Track the offer acceptance rate.
9. Hiring Manager’s Satisfaction
In the packaging industry, the hiring manager’s satisfaction is paramount to a candidate’s progress. Track this metric to ensure that the hired employee has bloomed into an effective team player.
At Spark Packaging, these are the strategies integral to our excellent recruitment funnel that has benefited major packaging & converting companies nationwide. If you are spearheading human resources or talent acquisition in your company and feel the place can make some hiring improvements, start tracking your recruiting metrics.
Need help with hiring? Get in touch with our team.