With a 2.1% unemployment rate, the financial services and insurance industries face dire challenges in terms of recruiting now in late 2017. The industry as a whole is faced with significant regulation and compliance, wide supply and demand talent shortages, and a real revenue-impact related to the candidate-consumer experience.
“A big number of companies will be unable to achieve their initiatives because they will not be able to attract the type of talent they’re looking for1”.
Autumn means the days will shrink, the leaves will fall, and for the human resource technology world, it means the coming of the 2017 HR Technology Conference.
Because Talemetry's recruitment marketing platform syncs with your ATS, we see many organizations move from their current applicant tracking system to a new applicant tracking system.
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.
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.