Do your employers know how much value you offer them? Do you know how much added value your staffing services offer compared to your competitors? How do you know for sure what strategic value your company offers?
Measuring the impact of your efforts on your employer’s bottom line is one of the most credible ways for recruiters to earn respect as true strategic business partners. Quantifying your value shows your strategic value, especially at the executive level, where important decisions are made. Accurate and consistent measurement also allows you to set goals, track your progress, and improve your processes for better results. Despite all the strategic benefits of measuring your recruiting value, many recruiting professionals don’t get involved in these important activities. There are many key measurements related to recruitment. We’ll focus on a few key actions that can help you demonstrate your value as a staffing agency to your employers.
The message you want to convey to your employers with these measurements is: They help them find quality candidates quickly and cheaply. The goal is to show the employer that you can provide a better staffing service than your competitors and perhaps even better than the employer itself. While this may seem daunting, here are a few simple measurements that can support your case:
quality of rental
In today’s talent war, it’s important that you show the employer that you’re not just putting jobs in jobs, you’re bringing quality candidates into their organization. Hiring quality is one of the simplest metrics to demonstrate the quality of your candidates. This measurement can be obtained from surveys, screening ratios, and acceptance rates.
screening ratios can indicate the quality of the candidates you send to the hiring manager. This ratio can be determined based on the number of approved job interviews per application sent. The goal is to prove that you offer better candidates based on the number
That Offer and Acceptance Rates can also speak of quality. The purpose of this metric is to show the quality of your candidates based on the number of job offers or acceptances per number of applications or interviews completed. Suppose the employer interviewed 10 of your candidates and turned them into 6 job offers. In this case, your offer rate is 60%. Now let’s say, without your help, using the same definition above, the employer offer rate is 20%. You now have compelling evidence that with your help, your employer is getting better candidates. Using offer and acceptance rates is an easy way to demonstrate the quality of your candidates to your client.
A typical Quality of the attitude survey asks the hiring manager important questions about his new hire. These questions may relate to your candidate’s work quality, processes, etc. The most important question in this type of survey would be to assess the hiring manager’s overall satisfaction with this hiring decision. An example of a possible question would be: “Would you hire the candidate again?”. Today there are many online survey tools that can make implementation very inexpensive.
The purpose of the above hiring quality metrics is to provide your employer with a tangible metric to prove that you are providing it quality candidates. When developing these metrics, it would be ideal if you could align your measurement with that of your client for easy comparison and benchmarking. The goal is to show the employer that you offer quality candidates, maybe even better than the ones they can find. How powerful would it be for you if 90% of your client’s managers would re-hire your candidates, while only 70% would hire those found without you.
time to fill In the business world, speed is critical to success. The purpose of measuring the time to fill a job vacancy is to demonstrate your responsiveness to an employer’s hiring needs. The time it takes an individual recruiter to fill an open position says a lot about their market and customer knowledge, sourcing and screening skills and processes. By filling a position quickly, your customer can save more than just time. For employers, the time a job remains open can mean lost revenue, opportunity, productivity, and so on.
The time to fill a vacancy can be measured by the time between receiving your client’s inquiry and the day your candidate accepted the offer. Make sure that the start and end dates you have chosen for this measurement do not include factors beyond your control. Therefore, the start and end dates you choose will depend on what exactly you want to measure. For example, some HR professionals use the employee’s first day of work as the endpoint of their metric. For recruitment companies, this endpoint might not work as well as it includes project start dates and onboarding processes that might be outside of your responsibility.
Cost per rental
What company isn’t cost conscious in today’s business climate? The cost per hire is simply the total cost of hiring a resource divided by the number of total hires. Here you simply want to show your employer the cost-effectiveness of using your personnel services for yourself or in comparison to your competitors.
While numbers can never express the value of a great recruiter and/or recruitment company, they can help demonstrate your worth and competitive difference to the employers who use your service. These people metrics have a better chance of being seen at the executive level, where they have little or no opportunity to see first-hand the qualified candidates you provide who will become the lifeblood of their organization. By demonstrating that you deliver quality candidates in a cost-effective manner, you go a step beyond lip service and stay one step ahead of your competitors.
Thanks to Moshin Manji | #Prove #Worth #Recruitment #Key #Recruitment #Staffing #Metrics #Recruitment #Strategies