How do you change your recruiting metrics for different business needs?

Recruiting Metrics is the key thing for hiring, different metrics are important for different business needs earlier I used to use different metrics when I was working for a staffing company but now I apply different metrics when I started working as a in house recruiter. Metrics change according to the needs and you need to adapt them to become a great asset to the company.

The decision to change recruiting metrics should be driven by a clear understanding of your organization's current needs and long-term strategic objectives. Some key reasons why you might need to change your recruiting metrics: -Advancements in recruiting technologies, such as AI-powered tools and predictive analytics, may prompt you to adopt new metrics to measure the effectiveness of these technologies in streamlining your hiring process. -During times of economic uncertainty, organizations often prioritize cost optimization. Metrics related to cost-per-hire, time-to-fill, and return on investment (ROI) may take precedence in such scenarios. -Changes in labor laws or regulations may necessitate adjustments to your metrics.

In most cases, companies would need to change their approach in order to optimize recruitment metrics. Changing metrics rarely means ‘lets slow things down’. Most of the companies understand the candidate process metrics and onwards, but in a world where job seekers move differently, it is inevitable that you have to change metrics as the approach changes. Omni-channel metrics are the new go to. This is a new area for most employer brands and recruiters. But is it a marketing job or recruiters job? That’s the real gap? The basis for all metrics in recruitment should be Cost-of-Vacancy. This usually is the wake up call for companies to readjust their recruitment metrics and optimize them.

Absolutely, the key is to align your chosen metrics with your specific business goals. It's about precision rather than drowning in data. By focusing on the metrics that directly impact your objectives, you can effectively gauge your progress and make informed decisions to drive success in your talent acquisition strategy.

Once I have decided where to focus and what metrics are relevant, I often incorporate my team's input to set realistic targets. By incorporating my team in the process, they understand the goals and are collaborative in their joint mission to succeed. Also, they can use the targets as a way to self-evaluate which can lead to great conversations and the ability to self-identify areas for growth.

ATS and CRM’s are great for measuring numbers during the candidate and onboarding process. With job boards underdelivering in (most of) Europe, career sites serve as a central hub and candidates are sourced through marketing campaigns. That’s were numbers get cloudy. Making sense of your recruitment metrics start at top funnel. Your marketing efforts need to be measured. For job boards: use an ATS. For all else: - use GA4 - use ad platforms analytics to understand top funnel metrics such as: - click, - click through rate Mid funnel - Scroll depth - Engagement - Visitors vs started applications Bottom funnel: - applications started vs completed applications. Then move on to the candidate metrics.

Absolutely, collecting and analyzing data is pivotal in adapting your recruiting metrics to changing business needs. It's like having a compass to navigate through the evolving landscape of talent acquisition. Implementing robust systems, maintaining data accuracy, and using tools for insightful analysis can provide a competitive edge in today's dynamic job market.

We are fortunate that we have a great ATS with built-in reporting. However, making sure that everyone understands how YOU define the data and the metrics being utilized is critical when you get to the analyzing and sharing phase. You have to set the stage and give the audience the information needed to understand the numbers they see.

In today's data-driven world, technology plays a crucial role in collecting, analyzing, and acting on recruiting metrics. Consider investing in advanced analytics tools and AI-driven platforms that can provide real-time insights into your recruiting process. These tools can help you uncover hidden patterns, predict future hiring needs, and even automate parts of your recruitment process for greater efficiency. Remember, changing your recruiting metrics is not a one-time task; it's an ongoing process that should evolve with your organization's dynamics.

Just as teachers use data disaggregation to inform their instruction, talent leaders should use data to create and update their strategic plan and SWOT Analysis. The most important thing to remember is once you put the structure in place, you should revisit frequently and update as needed. Data is only good when used and when done correctly. I tend to track metrics at 30 and 90 days, quarterly, and annually depending on the needs of our business. Also, there are some metrics that I always track (time to fill, time to hire, number of hires, etc.) and there are some that are added for either a purpose or based on the timing of the season.

I think it is well worth the money to have your team of recruiters get trained in understanding metrics and data analysis. Having a basic foundation is beneficial to the deeper conversations of determining which metrics to use and what needs to change. Empower your team to be accountable and active within the process.

Another thing to consider: The market conditions of recent years force us to dive deeper into the job seeker journey. What makes someone a passive job seeker. Not searching actively, or keeping an eye open to see what opportunities arise? As recruiters we need to educate ourselves on new channels. Job seekers, passive and active, are like consumers. In the consumer industry, there’s been in-depth research on the journey. In recruitment we haven’t even scratched the surface. It’s very hard to get internal stakeholders convinced to go Omni-channel and build brand. After all, brand is not measured in direct recruitment results. So what to spend money on? Companies therefore often stick to what they know. Don’t!