Ready, set, go! Get a move on with recruitment analytics

Recruitment analytics is all the rage right now.

Analytics allows recruitment to be transformed into a real learning process. And, that means it'll just keep getting better. 

Let's take a li'l look at recruitment analytics and how you can get going. 

What the beep is recruitment analytics!? 

Basically, recruitment analytics means logging recruitment-related data to spot trends and work out how to hire smarter next time round. 

With recruitment analytics, you can: 

• Figure out if your recruitment process is improving and plug any procedural gaps 

• Decide which recruitment resources/channels work best and when to use them 

• Work out which candidate skills have proven most profitable 

• Prove your ROI on every hire to the higher-ups 

• Predict how long it'll take to hire certain types of staff 

• See how awesome your onboarding processes are (and, where they need some sprucing up) 

• ... And, much more! 

75% of companies are pretty darn sure people analytics is the way to go, but just 8% reckon they're strong on this already. So, it's time you got cracking. 

Cool, but how do I get started? 

Here's a lightning-fast intro to help you get going with recruitment analytics: 

Get a sweet tech set-up 

You're gonna need a pretty swish tech set-up to get started, but the rewards will be worth it. 

Call on your IT bods to help you create a system for collecting, cleaning and analysing data. 

You might get away with using a spreadsheet for certain things. But, chances are you'll need some snazzy recruitment software. 

Select those metrics 

The things you'll learn depend on the metrics you pick. Choose from:

• Time to hire and/or fill 

• Source of hire 

• Cost of hire source 

• Quality of hire (set your own benchmark) 

• Applicants per vacancy 

• Selection ratio 

• Cost per hire 

• Offer acceptance rate 

• Application completion rate 

• Hiring manager satisfaction 

• Candidate experience/satisfaction 

• First year attrition 

The more you pick, the better the insight you'll get (but, the more homework you'll have to do too).

Dig up your data 

Make sure everyone's on the same page when it comes to gathering data. 

Tell all the right people about the metrics you'll be using, and set a time to start logging data. 

Ask line managers (super-nicely) if they'd be up for tracking all the employee quality-related metrics over time while you get busy with the recruitment ones. 

Give it a test-drive 

Start with an easy-peasy test to prove recruitment analytics to the folks upstairs. Let's say you're trying to choose which of two job sites provides you with the best candidates. 

Here's how it'd go: 

1. Choose which employees you're looking at 

2. Give each a score for quality, first year attrition and hiring manager/candidate satisfaction 

3. Aggregate these scores to come up with an average rating 

4. Split these folks into two groups depending on what site they were sourced from 

5. Add the group member ratings and divide by the number in each group to create an average rating 

Hey presto! You've just put a figure on the best job ad site for you. 

Sounds simple, right? Even so, there are countless ways you can use recruitment analytics. Dive on in and see what works for you.