In general terms, we write a lot about recruitment marketing. By centralizing your candidates (recruiting CRM) into a single database, providing consumer quality candidate experiences online, auto distributing jobs to free and paid job boards and social networks, engaging with candidates over the long term, and analyzing and refining results, your finance or insurance company will be more effective in hiring. You'll attract more high quality candidates. That's good return on investment (ROI). That's good business.
In our Recruitment Marketing ROI Handbook, and our series of articles dedicated to recruitment marketing ROI, one major factor for uncovering ROI for recruitment marketing initiatives is optimizing recruitment advertising source efficiency.
Like any other endeavor, when analyzing ROI it is best to start big and work your way down.
Measuring time to fill is quite popular among recruiting organizations and can be an important factor in determining recruitment marketing ROI. Time to fill measures the time it takes to hire for a given position, starting with the opening of the requisition. It is a VERY broad metric for understanding the efficiency of your talent acquisition processes and strategies.
Measuring cost per hire is key practice for measuring the efficiency of any recruiting organization. When it comes to evaluating the success of your recruitment marketing strategies and technologies, you should have a good handle on cost per hire (CPH).
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.
Improving candidate experience ROI can be an effective way to increase hiring efficiency and get more of the right candidates. It's just a good idea all around. But dedicating time and resources to candidate satisfaction requires a dollars and cents return on investment (ROI).
There are many ways to measure the value of candidate relationship management software, the most valuable is recruiting CRM return on investment (ROI). We generate a lot of great information about best practices for recruiting CRM, but let's talk about dollars and cents.