Spotlight on channel effectiveness analytics
Do you know how your recruiting channels are performing in sourcing quality candidates and hires? Do you know which recruiting channels are most effective in meeting different business requirements?
You invest heavily in your different sourcing strategies and it can be challenging to understand which sources are driving the best return. High-level metrics like candidate volume can be deceiving in telling the story of which sources are most effective in delivering high-quality hires to the business. A deeper look at your data can deliver visibility into the performance of your recruiting channels and pinpoint where you need to focus.
Find the right recruiting channel mix
There is no one-size-fits-all recruiting source – the right channel mix depends on the role, location, department, skills you are looking to fill. To understand channel performance you need to know which sources work best at attracting your quality candidate in the context of your specific business needs.
Channel Effectiveness Analytics go beyond overall costs, high-level volume and candidate-to-hire conversion rates, and provide this essential context.
By placing the hiring objective at the core and segmenting your channel data according to business need (e.g. by role, geography, department, recruiter) you can confidently answer these questions:
To source this particular role, in this particular region, what is the best channel mix in terms of performance and ROI?”
To fill the hiring needs for this department which sources have been most effective?”
The clarity and direction that comes from segmentation of channel data is invaluable to help your recruiting team focus and drive the right sourcing investment decisions.
Keep the focus on quality – candidate and hire
Quality is a critical layer to understanding and measuring Channel Effectiveness. If candidates aren’t progressing beyond interview stage or hires underperform or leave within the first year, you may be over-investing in a source that by volume metrics alone, looks like it is performing well. By connecting recruitment data to first year outcomes data (performance, time to productivity, turnover), and survey data (quality of hire, engagement), you can clearly see which channels are driving not only the highest quality candidates, but also the best fit hires. This information is invaluable in identifying areas of focus and informing investment decisions.
Communicate with confidence
Channel Effectiveness Analytics provide the insight needed for purposeful conversations about your recruiting source strategy. With visibility into volume, conversion rates and measures of quality you can have targeted discussions with your channel partners about what’s working and not working. With analytics drilled down to the specifics of the business requirement (role, region, department) you have the support you need for conversations with stakeholders around expectations, areas of focus and investment. Overall, the analytics provide you the confidence to communicate effectively and drive the best recruiting source strategy for your business.