How to Measure Your Recruitment Success
Most companies are turning to social media for much of their recruitment efforts. Measuring the return on your recruitment strategies is critical to determining where to focus your future efforts.
What Exactly Should You Measure?
From a recruiting strategy viewpoint, time is money. Measuring the results of your efforts will allow you to focus on sources that provide the most and best quality candidates, in the least amount of time.
Source of Applicants
Track, not only, how many applicants you source from each social media site (as well as other traditional methods), but also weigh the number of viable applicants you receive against time spent to update and maintain the site.
You may find that some sites are not as relevant as others for your particular industry, which results in fewer acceptable resumes.
Time vs. Results
Sites that require a great deal of time to manage but return just a few applicants will not be the most effective use of your internal resources. To optimize your social media recruitment success, in addition to tracking the source, evaluate the time required of your personnel to place the positions and monitor resulting applications generated.
Most social media sites provide tools that will tell you how many times your postings have been viewed and shared with others. Using those metrics is an effective method for measuring social media recruitment success.
Tracking activity on your social media sites will give you great insight into what information viewers spent time reading, as well as what content received little interest. Such information is invaluable in shaping your future social media recruitment strategies.
Be sure your online applications include the option to provide referral information, to make you aware of any such referrals by other visitors, or even from your existing staff.
Using Key Performance Indicators
Measuring your recruiting success means considering each of these measurements, and utilizing them as key performance indicators (KPIs) on a continuing basis:
- Source of applications (and relevance)
- Time spent vs. return
- Outreach – this equates to effectiveness of a given site
- Cost per hire – this is what it’s all about – where to focus your time and money
Using these KPIs consistently allows you to easily spot changes in results as social media results change, so that you can adjust your focus accordingly and confirm that you’re measuring recruiting strategies effectively.
Improving Your Recruitment Success for Better ROI
Utilizing meaningful KPIs and evaluating your recruiting strategy results on a regular basis allows you to maximize your success while also reducing your cost per new hire.