When teams are faced with a talent overload and application overwhelm recruiting efficiency isn’t just a nice-to-have, it’s a must-have. In order to tackle more tasks the efficiency of a team needs to be a priority.
Recruiting leaders are often tasked with a goal that’s easy to say, but hard to do:
“Do more with less.”
Whether less means a leaner budget or a smaller team, leaders are often tasked with working with limited means of production.
How to Measure Recruiting Efficiency
We’ve talked before about the importance of keeping an eye on critical metrics. It’s all well and good to have goals, but without actionable steps and measurement, you won’t see results.
Each team has different metrics that are most critical to them and all metrics should be aligned with particular goals. If you’re looking to improve the recruiting efficiency of your team, here are metrics that will help.
Time to Fill: If efficiency is your goal, time to fill should be at the top of your list. Recruiters need to move fast and if you’re not tracking time to fill you could miss out on needed changes.
Cost Per Hire: If your eyes are on efficiency, then they’re also on budget. Getting cost per hire under control will be a game changer!
Applicant/Candidate/Hiring Manager Satisfaction: Satisfaction can be hard to measure, but if your applicants, candidates, and hiring managers aren’t happy then what is this all for?
Quality of Hire: Quality of hire holds incredible value! Tracking the quality of hire can tell you and your team if you’re on the right track for success.
How to Improve Recruiting Efficiency
Prioritize Needs and Communication
We’ve said it before and we’ll say it again: Communication is key to recruiting success. Whether making sure that hiring managers know exactly what a position needs or scheduling regular check-ins with candidates and recruiters, communicating accurately and succinctly is key.
It may feel antithetical, but frontloading that work stops a lot of wasted time going back and forth!
Streamline the Hiring Process
It’s not conducive to a tight budget or happy candidates to have long and drawn out hiring processes. Many studies report that the average hiring process takes between 25 and 45 days (INSERT LINK). What if your team could help cut that down by finding candidates quicker and getting them through the hiring journey faster? You could save hiring costs, labor costs, and increase the satisfaction of hiring managers.
Streamlining the hiring process could involve increasing internal data usage (we’ll get to that in the next tip) or simply cutting out that third or fourth interview. Regardless of the changes, making an effort to streamline will make the hiring process more effective for recruiter, the candidate, and the hiring manager.
Increase Usage of Internal Data
One of the first changes to make if your team is facing leaner times is to audit and utilize what you already have. Your internal candidate date should be no exception.
Our research shows that after recruiters have started to source externally, (STAT) of candidates were already a part of the ATS or CRM. Recruiters are spending time and money to simply duplicate candidates that are already easily available to them!
To increase recruiting efficiency, update your team’s recruiting strategy to include searching internal data first before turning to external sources like social media. Say goodbye to wasting time recruiting duplicate candidates!
Learn more about how HiringSolved can help you optimize your internal data with a demo!
Go Agile and Optimize
If you haven’t heard about the Agile work style, you can visit this site to learn more about it.
Ultimately, being agile at work means constantly being willing to adjust things for the better. Being efficient is not a one-and-done change. It requires constantly being willing to adjust workflows in order to stay efficient no matter the business climate that you’re facing.