How To Track Important Recruiting Metrics From The Ground Up
First, a disclaimer: reporting and analytics initiatives are not one size fits all. Your unique business goals will be a major driver of your metrics program. The business goals, the individual business areas, and the processes most in need of a boost will help you determine the tools needed in order to collect that data and action it.
But let’s start with the fundamentals, since even the biggest project has to start somewhere.
1. Identify the Most Important Metrics to Track
Take the time to consider all the recruiting metrics your firm or team needs to be measuring. Some of these will be normal KPIs but others should be metrics that you are making a conscious effort to improve or metrics specific to your team, industry, and niche. Are you trying to reduce your time to fill rates? Do you want to know what roles are taking the longest to fill? Think of what you want to learn when you begin tracking data.
When you understand what you’d like to measure, assessing the difficulty of gathering that information to prioritize which data points you should start measuring first. With prioritization, you can knock out the low-hanging fruit to get your reporting program started, and then gradually working towards incorporating the more complex data. More complex metrics aren’t always better because sometimes to actionable information is easiest to surface.
Finding the most efficient bang for your buck goes a long way because we know recruiters don’t have all the time in the world for reporting. Find solutions that automate the data-gathering process and remember that the data is only as good as the data entry.
2. Use the Right Tracking System
The backbone of any strong recruiting analytics program is a recruiting software that can non-disruptively track your team’s performance based on their normal process. It’s not helpful to try and shoehorn an inadequate system into forced reporting; take the time to find the a solution with robust recruiting tools. One that’s constantly tracking and giving you actionable insight into your recruiting workflow. For more on this, read “12 Reasons You Need a Modern Applicant Tracking System.”
3. Act on the Data You Collect
Don’t bother tracking what you won’t act on. Frankly, it’s a waste of time and resources and extra data can get in the way of more useful metrics. After all, the whole reason for collecting data in the first place is to figure out what methods are working and plan for future pursuits. If you aren’t going to use a metric to make positive changes, it shouldn’t be a focus.
Once you implement your metrics program you should come back every so often to monitor the data you’re collecting. Priorities change and your tracking should reflect that. If your team pivots to focus on retention instead of time to fill, your data collection should also reflect that change. Keep your reporting agile and fresh and you will always have clean data to help make the right decisions.
If you’re ready to upgrade your recruiting process with metrics reporting, download our eBook all about building a reporting program and important metrics to measure today.