Measuring quality of hire can be a highly complex process, or a relatively simple one, depending on how deep you want to go with it. But make no mistake, it's an extremely important pillar in your efforts to measure and validate the ROI of recruitment marketing strategies and technologies. In fact, it's the cornerstone of an important metric for measuring recruitment marketing ROI called Cost Per Quality Hire (CPQ).
In general terms, we write a lot about recruitment marketing ROI. By centralizing your candidates (recruiting CRM), providing consumer quality candidate experiences online, auto distributing jobs to free and paid job boards and social networks, engaging and candidates over the long term, and analyzing and refining result, your company will be more effective in hiring.
You've probably heard by now that Google has gotten involved in the hiring game with Google for Jobs – and it could affect your career site. With their announcement of Google Jobs API last year, and their implementation of Google for Jobs within their native search engine, Google is looking to clean up the job search process.
When it comes to recruiting CRM, many candidate profiles have the recruiting equivalent of multiple personality disorder. Candidates are coached (rightly so) to tailor each resume they submit to the job they are applying for.
When it comes to recruiting, remarketing and retargeting are important tools that corporate recruiters are just beginning to become aware of.
That's a lot of re prefixes to keep track of, so no one can blame you if you aren't yet an expert.
As recruitment marketers, we tend to split our disciplines into artificial segments like employer branding, candidate experience, recruitment CRM, candidate attraction, etc. Of course this is necessary in order to understand the building blocks of successful recruitment marketing.
That said, these divisions don't really exist if you are practicing high level recruitment marketing.
It seems to be popular for recruitment marketing platform vendors to hype their global recruitment marketing software. That's an easy designation to throw around, but what does it really mean?
Well, there's a short answer and a longer, more important answer.
For recruiting organizations, the race to make apply processes easier started with the advent of resume uploading, or resume parsing, many years ago. At the time, the ability to upload a resume and extract enough information to speed the application process was revolutionary.
What started as name, address, email, and phone has evolved over the years to include experience, skills, qualifications, and more – in multiple languages. This is a big part of our heritage at Talemetry.
It seems these days that large recruiting organizations are increasingly evaluating or implementing recruitment CRMs (or candidate relationship management). That's good. As we've covered before, your ATS isn't designed to build long term relationships with candidates and that's not changing anytime soon. But in the case of CRM, what you don't know could hurt you.
Brandon Hall Group knows a little something about hiring metrics. As a research and advisory group, they've covered talent acquisition for over a decade. That's why Talemetry worked with Brandon Hall to create an important eBook called Recruitment Marketing’s BIG IMPACT on Hiring Metrics.