{"id":4821,"date":"2017-03-15T07:00:42","date_gmt":"2017-03-15T14:00:42","guid":{"rendered":"http:\/\/recruitloop.wpengine.com\/?p=4821"},"modified":"2019-01-15T00:51:17","modified_gmt":"2019-01-15T08:51:17","slug":"recruiter-tips-6-metrics-to-always-keep-a-close-eye-on","status":"publish","type":"post","link":"https:\/\/www.zippia.com\/employer\/recruiter-tips-6-metrics-to-always-keep-a-close-eye-on\/","title":{"rendered":"6 Essential Metrics For Recruitment Consultants"},"content":{"rendered":"

Editor\u2019s Note:<\/b>\u00a0This post is by\u00a0Paul Slezak, Cofounder and CEO of\u00a0RecruitLoop<\/a>\u00a0\u2013 the World\u2019s largest marketplace of expert\u00a0Recruiters\u00a0and\u00a0Sourcers\u00a0available on-demand.<\/i><\/p>\n

A few weeks ago I ran a course for\u00a0a group of Human Capital Managers. The topic of the\u00a0workshop was Strategic Recruitment Metrics for Driving Measurable Value to Your Human Capital Investments<\/em>.<\/p>\n

Please allow me to blow my own trumpet for a moment, but I know how much the delegates enjoyed it and I know they all got a lot out of it too.<\/p>\n

After the course I realised how long it\u2019s been since I ran a similar workshop\u00a0geared towards recruitment consultants.<\/p>\n

Although recruiters are typically focused on meeting their KPIs and hitting their targets, there are quite a few metrics or ratios that they should also keep a close eye on.<\/p>\n

I\u2019m not even going to try to cover all of them in this post, but here are a few important metrics for all you recruiters out there to obsess over \u2026 at least once in a while.<\/p>\n

1.\u00a0Source of Applications<\/strong><\/h2>\n

Where are your best candidates coming from? Is there one particular source? Perhaps an online job board? Are they coming straight to your website? Maybe you\u2019re finding them on LinkedIn? Or are they being referred to you by other satisfied candidates that you\u2019ve placed previously?<\/p>\n

If you\u2019re throwing money at certain sourcing channels but you\u2019re not seeing any return, you might want to think about a change in strategy.<\/p>\n

Imagine if your online job board advertising budget was cut? Could you still access top-notch talent? If you formally incentivized your candidates to refer other A-grade colleagues, what would that do to the quality of your talent community?<\/p>\n

Perhaps you’ve outsourced the entire sourcing process<\/a> and you are receiving lists of awesome candidate profiles?<\/p>\n

2.\u00a0Number of Open Orders<\/strong><\/h2>\n

In one of the breakout sessions during my workshop, I learned that one of the delegates was currently sourcing for 60 live vacancies for his organisation.<\/p>\n

60 jobs! Can you imagine?<\/p>\n

I remember meeting with one of my recruiters many years ago who had a very excited look on her face as she told me she had nearly 30 open orders in her pipeline!<\/p>\n

I recall quickly asking her the simple question \u201cBut how many of them are actually qualified?<\/em>\u201d and without wanting to burst her bubble in any way, we very quickly whittled that number down to closer to 15.<\/p>\n

There\u2019s a massive difference between the number of jobs you think<\/em> you\u2019re working on, and the number of qualified orders<\/a> you\u2019re actually trying to fill.<\/p>\n

3.\u00a0Phone Screening : Face-to-Face Interview Ratio<\/strong><\/h2>\n

Another one of the delegates in the workshop shared a story with the group that for one of her recent vacancies she\u2019d phone screened 20 applicants out of close to 75 r\u00e9sum\u00e9s that she\u2019d received.<\/p>\n

Seems about right.<\/p>\n

What surprised me though was that she\u2019d then invited all 20<\/em> of those applicants in for a face-to-face interview.<\/p>\n

When I asked her how many of those candidates she had then forwarded on to the particular line manager in the business, she admitted \u201conly 2 of them were any good<\/em>\u201d.<\/p>\n

Surely if she\u2019d been conducting a thorough telephone screening process<\/a> at least some<\/em> of the 20 candidates would have been eliminated thus preventing a huge amount of time wasting at the face-to-face stage.<\/p>\n

(Of course I hinted that video interviews<\/a> could have helped her with her culling process!)<\/p>\n

It would be very rare to invite all<\/em> your phone screened candidates in for an interview so make sure you\u2019re aware how much time you\u2019re spending screening over the phone vs face-to-face.<\/p>\n

4.\u00a0Shortlist : Client Interview Ratio<\/strong><\/h2>\n

If you present a shortlist of four candidates and your client agrees to meet with only one of them, what goes through your mind?<\/p>\n

Are you just glad that your client is meeting with somebody? (Phew \u2026 at least you can put a tick against one of your KPIs for the week!<\/em>) Or are you curious as to why the other three candidates didn\u2019t make the cut?<\/p>\n

This is a really interesting ratio to monitor since if you find your clients are rejecting three quarters of the candidates you shortlist, it might not be a case that you just have fussy clients.<\/p>\n

5.\u00a0Offer : Acceptance Ratio<\/strong><\/h2>\n

This is another interesting ratio to keep a close eye on.<\/p>\n

After all, how frustrating is it when you make an offer to a candidate you\u2019re really banking on and they turn it down? Not only do you have to mentally wipe that fee off the whiteboard, but you obviously have to tell your client that the \u201csure thing candidate\u201d has declined the offer.<\/p>\n

You’re then back to square one.<\/p>\n

Think about how often this may be happening to you. Unfortunately once again it may not always be a case that you just have fussy candidates.<\/p>\n

6.\u00a0Candidate Satisfaction<\/strong><\/h2>\n

This metric often gets swept under the carpet \u2026 or at least partially!<\/p>\n

As recruiters we\u2019re always keen to go and visit our candidates in their first week, perhaps even take them a small gift, and make sure they\u2019re happy.<\/p>\n

It\u2019s smiles all around.<\/p>\n

But how often do we check in with those candidates who\u2019d made the shortlist but didn\u2019t land the gig, or perhaps even those you interviewed and for whatever reason didn\u2019t make the shortlist?<\/p>\n

Remember that a satisfied candidate will tell one friend about their experience, while a dissatisfied candidate will tell 10. And I literally mean \u201ctell\u201d \u2013 I\u2019m not counting what thoughts or opinions they might share on social media.<\/p>\n

Believe me I know it\u2019s hard (and sometimes perhaps a little time consuming), but if at one stage a candidate had been good enough for you to include in your shortlist, they really shouldn\u2019t suddenly become persona non grata<\/em> just because your client decided to go with someone else.<\/p>\n

Measuring candidate satisfaction is essential and my personal recommendation is that you survey every candidate that has had exposure to you or your agency every quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although recruitment consultants are typically focused on meeting their KPIs, here are 6 key metrics that they should also keep a close eye on.<\/p>\n","protected":false},"author":3,"featured_media":10130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[66,21,74],"tags":[],"yoast_head":"\n6 Essential Metrics For Recruitment Consultants<\/title>\n<meta name=\"description\" content=\"Although recruitment consultants are typically focused on meeting their KPIs, here are 6 key metrics that they should also keep a close eye on.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zippia.com\/employer\/recruiter-tips-6-metrics-to-always-keep-a-close-eye-on\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 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