By definition, not every business can hire the best job seekers. But there are steps you can take to distinguish your business and garner more interest from aces. An article at Inc. highlights six metrics that you should start paying closer attention to in order to do just that:
- Time to hire
- Stage-to-stage conversions
- Percentage of completed applications
- Offer acceptance
- Conversion rates by source
- Long-term employer and employee satisfaction
The Best Odds
The longer it takes to hire candidates, the more time those people have to accept a job from somebody else. To speed things up, broadcast jobs on every job board, and write job listings that are accurate, comprehensive, and (importantly) exciting. If you present full information about job responsibilities and company culture up front, you will automatically find more of the right candidates. This will save precious time, so that you are not funneling the wrong people through the stages of the interview process.
About percentage of completed applications, the article shares this:
A majority of job seekers have started an online job application only to decide that they don’t want the job as much as they want to stop filling out the form. Some companies assume that this process filters out weak candidates, but it’s actually filtering out a cross-section of all candidates.
A simplified application process can increase both the quantity and quality of your candidate pool. Cut unnecessary questions – don’t be afraid to be ruthless with this step – and look for any times that you make the candidate type the same information twice.
If you are extending job offers and people are not taking them, this too is reason for pause. To figure out why this is happening, the best thing you can do is go straight to the source: Ask candidates directly why they have declined.
It could also pay to understand which sources are bringing you which types of candidates. If you know candidates from one source typically take a little longer to get up to speed than candidates from another source, that is valuable planning information. These are small considerations that can have big positive effects if you take the time to analyze them.
Lastly, long-term employer and employee satisfaction respectively just have to do with retention and quality of hires. Are people sticking around, and are they doing a good job? This is important to know. Hiring is not the end of the story.
You can view the original article here: https://www.inc.com/workpop/6-overlooked-metrics-that-can-help-you-recruit-a-d.html