The competition for top talent is fierce, and hiring the wrong person can be costly. As the market becomes more competitive, businesses need to step up their game to attract top talent before other competitors do. That’s why it’s crucial to make recruiting efficiency a priority in your business.

By implementing these strategies, your enterprise can streamline the recruitment process, save time and resources, and ultimately secure the most qualified candidates for your organization. Let’s dive in and explore how you can make recruiting efficiency a top priority for your organization.

#1: Measure Vital Recruiting Metrics

To begin, it is essential to gather recruiting data that reveals where you can make improvements to your recruiting process. Metrics across the entire talent pipeline are valuable for revealing where your highest-quality hires come from and how well they convert across the recruiting funnel. By tracking your metrics over time, you can also identify bottlenecks in the hiring process and make necessary adjustments. 

Candidate experience is another important area to consider. By measuring the level of satisfaction among candidates, you can identify how you should improve candidate nurture and outreach to better convert candidates into applicants. 

Collecting data to understand hiring efficiency is essential for businesses to remain competitive in today’s job market. However, metrics alone aren’t enough to make a difference in speeding your time to hire. You have to synthesize the data and determine where you can shorten areas of the process to make efficiency a priority. 

#2: Analyze the Data

Now that you have the data, it’s time to drill down on what it means for improving your hiring process efficiency. By analyzing the data, your enterprise can, for example, identify specific stages where the most candidates drop out of the hiring process.

Is it after visiting your career site? Before they apply for a role? While applying for the position? During the interview process? This analysis can help organizations focus on steps to enhance the candidate experience and reduce the chances of losing qualified candidates to other companies.

Companies should also evaluate the sources that they use to post job listings. Some sources may repeatedly attract low-quality candidates, leading to wasted time and resources. Analyzing the sources and shifting to more effective channels can help businesses attract higher-quality candidates.

Finally, take a look at what the data says about your overall interview process. The process should be designed to identify the most qualified candidates quickly, while ensuring that they have a positive experience. If there are unnecessary hurdles, it may be time to make some changes, which brings us to the next step.

#3: Augment and Adjust

Once you have identified some pain points in your recruiting processes, it’s time to implement changes that will improve the speed of the process. For example, now may be the time to adjust your budget to the channels that yield higher-quality candidates.

Another area that you could be losing candidates is requiring them to fill out the same fields in the online application that are already contained in their resume. This duplicated data entry is a real frustration for candidates. Look for a recruitment technology partner that can quickly and effectively ingest the resume and make the application process 10 minutes or less. 

If you notice a lengthy interview process slowing down your time to hire, it may be beneficial to create a set list of questions for interviews, designate interviewees, and require feedback from the hiring panel in your platform within a specific time frame. This helps ensure that the hiring process is consistent, and all candidates are evaluated on the same criteria. 

#4: Rinse and Repeat

Keeping a pulse on your recruitment data helps you identify areas where you can make improvements in the hiring process, such as where potential bottlenecks exist and what needs to be done to eliminate them. However, it’s not enough to gather data and make changes once. 

The key to making recruitment efficiency a priority is to continue to analyze and augment your hiring processes based on new data insights. This means that you should continuously measure and analyze your data to identify new pain points and make ongoing adjustments. 

The good news is that technology has made it easier than ever to analyze recruitment data. With the right talent acquisition technology, like the Evolve Talent Acquisition Suite, you can track every stage of the recruitment process, from applications to interviews to hiring decisions, streamline tasks, and bolster your recruiting efficiency. 

Making recruitment efficiency a priority in your organization requires ongoing effort and analysis. By continuing to measure and analyze your data, you can ensure that your recruitment process is as efficient as possible. 

This, in turn, leads to higher-quality candidates, higher retention rates, and new hires who contribute to the growth and success of your organization. Now is the best time to make recruitment efficiency a priority in your business and invest the time and resources necessary to make it a success.

Ready to make recruiting efficiency a priority in your organization? Learn how Jobvite’s enterprise recruitment solution can help you track key metrics and improve the speed of your hiring process. Schedule a demo of our Evolve Talent Acquisition Suite today.

The post How to Make Recruiting Efficiency a Priority in Your Enterprise first appeared on Jobvite.

One of the primary reasons for this hiring difficulty is the ongoing talent shortage and historically low unemployment levels. The demand for qualified candidates has far exceeded the available supply, making it challenging for companies to find candidates with the essential knowledge, skills, and abilities necessary to fill open positions.

Many companies rely on outdated recruitment strategies that don’t effectively meet candidates where they are. The hiring process has evolved significantly over the years and companies that don’t adopt new strategies, technologies, and processes risk being left behind. To overcome these challenges, it is essential to have a modern recruitment approach complemented by effective recruiting technology that can help make hiring more predictable.

Where to Start Optimizing Recruiting Strategies

With employers working harder than ever to find and connect with qualified candidates, it’s important to evaluate wins and lessons learned to make recruiting more effective this year.  One way to optimize your recruiting strategies is to take inventory of where you can improve and streamline your hiring programs. 

That’s where the 2024 Recruiting Effectiveness Planning Kit comes in. This comprehensive toolkit provides talent professionals with the guidance and step-by-step approach they need to improve recruiting strategies, audit current programs, and make data-driven plans to drive recruiting success.

Within the Planning Kit, you’ll find nine practical worksheets covering a range of topics, from developing data-driven recruiting strategies to expanding talent networks through targeted audience planning. You’ll also discover how to improve return on recruiting investment, how to leverage existing employees as a primary source for new hires, and how to develop comprehensive candidate personas for better role matching.

And when it comes to analytics and reporting, we’ve got you covered with a best practices worksheet to help you dive deep into the data and draw insights to improve your decision-making.

The 2024 Kit also features the latest insights and data from the Employ Recruiter Nation Report. With insights from across the hiring landscape, this data helps you stay informed on the latest trends in recruitment, talent acquisition, and hiring.

Finally, you’ll receive a 2024 HR events calendar, which sets out all the key dates and most popular events in recruitment and HR. Plan ahead for everything from key conferences to critical tax deadlines.

As a talent acquisition professional looking for a way to optimize your recruiting strategies and achieve results, the 2024 Recruiting Effectiveness Planning Kit is exactly what you need. Download it today and start planning for recruitment success in 2024 and beyond.

Ready to optimize your talent acquisition technology? Learn how Jobvite’s enterprise recruitment solution can help you attract, engage, and convert top talent at scale. Schedule a demo of our Evolve Talent Acquisition Suite today.

The post How Forward-Thinking Talent Pros Optimize Recruiting Strategies first appeared on Jobvite.

Your talent acquisition team, like many others at enterprises worldwide, undoubtedly tracks an array of critical recruitment metrics that provide insight into each stage of the recruitment funnel.

But, if your TA leader doesn’t assign specific key performance indicators (KPIs) tied to each metric — both at the individual recruiter level and for the overall recruiting org — it becomes quite difficult to attribute successes and identify areas for improvement with your hiring efforts.

Some large-scale employers use various analytics tools to track their pipeline performance.

Leading enterprises, however, rely on advanced ATS software with native talent analytics to keep tabs on data points tied to their recruitment speed, efficiency, and quality — and enable talent leaders to designate distinct KPIs that can help them track progress over time.

Enterprise recruiting KPIs you can assign and track with a leading applicant tracking system

Your recruitment team is not solely responsible for the success of your hiring process.

Other decision-makers across your org certainly impact your company’s ability to onboard top talent and keep your business moving in the right direction headcount- and growth-wise.

That makes it paramount to report on every aspect of your day-to-day recruitment process and long-term recruitment strategy so you can see if your talent specialists are making headway from one week, month, and quarter to the next with assigned requisitions.

So, if you need advice on what KPIs are worth setting for your recruiters — tied to every stage of your funnel: from the application process, to the candidate experience provided — you’ve come to the right place. Here are 20 specific, quantifiable goals you can set.

Top-of-funnel recruiting KPIs

1) Career site/job board engagement

Well-branded and search-optimized career sites and job postings are your TA team’s path to attracting more active job seekers, getting them to learn more about your business via other “About Us” pages, and converting many of them into new applicants you can engage for open roles.

2) Application completion rate

This obviously goes hand-in-hand with the above recruitment KPI. Another way you can get more prospects who land on one of your listings to click “Submit” is to make their application experience a quick and seamless one. (Hint: Don’t require them to log in just to apply for a position.)

3) Sourcing channel quality

Based on their recruiting experiences, your talent specialists (at least your veteran ones) certainly know which sourcing avenues lead to a high quantity and quality of candidates. Doubling down on proven channels and eliminating use of poor-performing ones is the key to achieving this KPI.

4) Nurture engagement rate

Whether you rely on email, SMS, or both candidate communication approaches, you can only bolster your engagement with prospects by routinely reviewing data tied to your outreach efforts — something an advanced ATS with built-in, easy-to-parse talent analytics can help you with.

5) Passive candidate quantity

Just as you want to ensure your sourcing efforts help augment your talent pool with the target number of applicants, you also need to focus on the quality of those passive prospects.

This can best be accomplished through lookbacks at past hiring cycles to see where top candidates (i.e., those who advance far into the recruiting process and are hired) come from source-wise.

6) Diversity sourcing and engagement

Building a diverse workforce is (rightfully) an ongoing endeavor for today’s enterprises.

Monitor your recruiters’ sourcing efforts to make sure they add members from historically underrepresented groups. That means turning to channels that generate applicants and passive prospects of different genders, gender identities, races, ages, and backgrounds.

Middle-of-funnel recruiting KPIs

7) Screen-to-interview ratio

There’s no “right” percentage of shortlisted candidates your recruiters should present to hiring managers after phone or Zoom screens. However, speaking with each hiring manager to understand the average number of leads they prefer to evaluate post-screening process needs to be taken into consideration by your sourcers to ensure hiring managers have several strong options to assess.

8) Interview speed/efficiency

Speed remains the name of the game in TA today. Continually driving down the amount of time your team takes to finish interviewing processes with top talent of interest is essential to closing requisitions in a timely manner — and boosting hiring manager satisfaction.

9) Time to provide feedback

Your talent team can only somewhat control “time to feedback.” That’s because some interviewers take their time to scrutinize candidate profiles, resumes, and related interview notes.

But, your recruiters can (and should) nudge them immediately after each interview to note they need HMs’ comments and scorecards ASAP to keep the candidates in question interested — and advance agreed-upon prospects of interest quickly into the offer extension phase.

10) Candidate selection speed

Speaking of candidate selection, it essentially comes down to your hiring managers who own specific reqs as to which individuals they think merit offers. As with feedback, ensure your TA team reminds HMs you need their choices (first, second, and third) so they can plan offer letters accordingly.

11) Hiring manager satisfaction

As mentioned, making each hiring manager happy with your team’s recruitment efforts is something that can go a long way in showing you’re putting in full effort to fill their job openings in a speedy and efficient manner. One of the best ways to satisfy HMs’ hiring needs? Have your recruiters speak with them at length about specific skills, experience levels, and other traits they prefer in new hires.

Bottom-of-funnel recruiting KPIs

12) Time to hire

This one’s a fairly obvious recruitment KPI your team should focus on improving. Regardless, you need to use your talent acquisition tech of choice to track the typical number of days it takes from the moment your team is assigned a new req to when they get a signed offer letter.

13) Cost per hire

Your executive team is always bottom-line focused. That means their attention is constantly centered on both profitability and revenue as well as business expenditures — including what your team spends to attract active and passive job seekers.

Keep a close eye on your TA budget, and ensure each recruiter (or your recruitment marketing manager, if you have one who owns all paid postings) knows what they have available to them each month and quarter — and not to go a dollar over.

14) Offer acceptance rate

You can’t force a candidate to agree to join your company. But, your talent team can liaise with hiring managers to collectively make compelling pitches to final-stage prospects. Only through this coordination — and regular iteration and optimization of their offer process — can recruiters and hiring managers continually get more high-quality candidates to sign on the (digital) dotted line.

15) Candidate Net Promoter Score (NPS)

Post-recruiting-cycle surveys sent to each candidate allows them to answer a handful of questions about their experience with your hiring team and rate your recruiting process at large. It’s simple: The higher the score, the better. You can start with modest targets (e.g., a quarterly improvement of 2-3 points). If the cNPS remains static or falls further, you can increase that goal as needed.

Discover how today’s top talent acquisition teams use the native analytics in our ATS to achieve their recruitment KPIs — and how your TA org can do the same. Get a demo today.

The post 15 Recruiting KPIs to Assign to Your Talent Acquisition Team first appeared on Jobvite.

Despite the turbulence, recruiting professionals should be encouraged by recent trends. Employ data shows that applications per job are up over the last year across companies of all sizes, and more than half of all recruiters expect their teams to grow in the next year, with nearly two-thirds expecting their recruiting budgets to increase.

A Look at the Current Recruiting Landscape

Navigating recruiting challenges in the current hiring landscape takes grit, resolve, and determination. While more than half (53%) of talent acquisition professionals feel their job is more stressful today than a year ago, this number has actually dropped by more than 10 percentage points from just last year.

Those talent practitioners who indicate a high level of stress today say it’s due to not enough qualified candidates (45%), competition from other employers (35%), more open roles to fill (34%), fewer resources to support hiring (33%), a lack of AI-powered recruiting technologies (30%), and more employees leaving the organization (30%).

For those talent professionals who do not feel their recruiting job is more stressful than it was a year ago (44%), over one-third say it’s because of a stable number of open roles to fill (38%), the ability to meet candidate expectations (37%), the same number or fewer employees are leaving the organization (36%), plenty of qualified candidates (36%), and more recruiters or additional recruiting resources (36%).

Recruiting Challenges

When it comes to the most significant challenges talent teams face today, there is a fairly even split among three primary areas:

• Not enough people to fill open positions (31% in 2023 versus 56% in 2022)
• Competition from other employers (30% in 2023 versus 54% in 2022)
• Not able to compete with salary requirements (25% in 2023 versus 33% in 2022)

However, there are positive trends in this data. The significant drop of more than 20 points in the first two areas means that employers are finding more talented candidates overall and that they are competing more effectively with other employers.

Ian Creamer

Vice President and Global Head of Talent Attraction, Guidewire Software

“There is so much uncertainty in the market. The expectation of hiring managers and leaders is that the tide of layoffs should equal much easier access to talent and that’s not always the case. We hire in the technology space and truly top talent remains as hard to hire as ever. Candidates are still showing up with multiple offers already in hand.”

Opportunities and Shifting Strategies

To deal with the challenges of the current job market, many businesses have shifted their recruiting strategies to impact their hiring process. Nearly 60% of talent acquisition professionals also indicate that because of the tight labor market, they are taking chances on different ways to accelerate time to hire and reach candidates.

This includes making sure the hiring process is faster (42%), increasing salaries for new open jobs (40%), providing remote work and hybrid options (38%), and incorporating AI-powered technologies (34%).

Compared to last year, organizations are now able to be flexible in some areas of recruiting, including taking more time looking for candidates (43%), incorporating AI-powered technologies (43%), focusing on internal mobility (39%), using personal networks (35%), opening new requisitions (32%), posting to paid job boards (30%), and expectations for the number of candidates applying to roles (28%).

Improving the quality of candidates remains essential in the current labor market for recruiters and talent acquisition teams, with almost half indicating it is their top priority (49%). However, compared to last year, this number decreased by 12 points.

For 4 in 10 recruiters, getting more candidates for each open role is a priority, followed by improving the speed of the hiring process (33%), and improving the onboarding process (31%). The current state of talent acquisition can be characterized as highly dynamic and competitive. Talent scarcity and demand continues to favor a candidate’s market, and organizations are working diligently to create employer value propositions that successfully capture application volume.

Leveraging AI-Powered Recruiting Tools

While recruiting automation has empowered companies of all sizes for more than two decades to streamline hiring tasks, increase recruiter productivity, speed time to hire, and reduce cost per hire, AI is newer to talent acquisition. And it has the attention of talent teams. Nearly 1 in 3 (30%) of recruiting professionals cite a lack of AI-powered recruiting technologies as a major stress in their job.

With AI now one of the fastest-growing areas to enhance recruitment technology, talent acquisition professionals have already started adopting its capabilities for more intelligent hiring. In fact, more than 58% of recruiters and HR decision makers already use AI to augment their current recruitment technology tech stack, with 82% percent reporting using AI-powered tools frequently or very frequently.

When it comes to use cases in talent acquisition, teams are leveraging AI for multiple uses across the recruiting lifecycle. Chatbots and intelligent candidate messaging (45%), job recommendations on career sites (41%), email and recruitment marketing content (39%), and screening candidates via automated messages (39%) are the top AI approaches currently leveraged in the hiring process. This is followed by intelligent sourcing (38%), candidate matching (36%), diversity, equity, and inclusion network balancing (37%), and job description recommendations (36%).

Organizations must invest in the right set of AI tools that fit their hiring needs, culture, and values. They must also strike a balance between AI’s ability to streamline recruitment processes and the need for human intervention at crucial stages of the recruitment process. Of the HR decision makers who currently use AI to augment recruiting technology, nearly half (47%) leverage AI-powered recruiting tools with AI functionality built in.

By allowing AI to automate processes and reduce repetitive tasks, recruiters can focus on the activities where they derive the most satisfaction and provide the most value, such as selling the role, negotiations, community building, and personalization. Not only does this improve the recruiter experience, but the candidate experience as well.

Moving Forward with Confidence

While recruiting challenges are apparent, so too is the optimism of the industry. Discover why an overwhelming 86% of HR decision makers are optimistic for the future.

Download the 2023 Employ Recruiter Nation Report: Moving Forward in Uncertainty.

The post Recruiting Challenges and Opportunities in Today’s Labor Market first appeared on Jobvite.

For recruiting professionals and HR decision makers, getting a handle on key metrics and understanding where any bottlenecks may exist is essential for improving hiring performance.

Based on data from the 2023 Employ Recruiter Nation Report, below are a few notable benchmark metrics across the recruiting funnel that companies can use to compare to their own talent acquisition efforts, and improve recruiting funnel health, efficiency, and performance.

Applications Per Job

Nearly 7 in 10 talent acquisition professionals report that their current volume of hiring is greater compared to last year. This is supported by Employ’s proprietary database of more than 21,000 customers. During the last 12 months, the average number of applicants has climbed across all company sizes, including enterprise, and small-and medium-sized businesses (SMBs).

With higher numbers of applications, the percentage change of applications submitted over the last 12 months is also up, indicating a positive trend for employers.

Time to Fill

Time to fill represents how long it takes a company to fill a job opening, from the date a job requisition is posted until a candidate accepts an offer. Simply, it’s the time it takes to find and hire a new employee.

The average time to fill for companies of all sizes is 47.5 days. While time to hire for most organizations has historically hovered around 40 days, during the last 12 months, this number has been higher. 

Because hiring is a game of speed, it is critical to determine areas where you can reduce time to hire overall, including shortening feedback loops internally and moving candidates quickly through each step of the hiring process.

Breaking it down by company size over the last 12 months, time to fill for SMBs typically is a few days longer than at enterprise companies, at 49 and 46 days, respectively. This makes sense, given that it can be more challenging for growing companies to attract qualified candidates if they have a lesser-known employer brand or lack the right mix of tools to streamline their hiring process. 

Benchmarking time to hire based on industry is also critical for talent teams because it tells them how quickly companies in their own sector are hiring.  Media, manufacturing, and education have experienced the highest times for filling open roles, while healthcare, retail, and professional services, have the lowest time to hire during the latest 12-month period.

Applicant to Interview Ratio

The conversion rate from applicants to scheduled interview is what is known as applicant to interview ratio. Based on Employ data, enterprise companies have a higher number of total applications received compared to SMBs for each interview offered. This is consistent over the last 12 months. 

When looking at the conversion rate from applicants to scheduled interview, enterprise companies have a much lower applicant to interview ratio than SMBs. With considerable competition for open jobs in certain industries, and large numbers of applicants, especially in the technology sector, it can be challenging for recruiters to manage the high volume of applications. In the case of SMB companies, they could be receiving more qualified applicants or fewer applications overall for open roles.

Interview to Offer Ratio

Interview to offer ratio is the number of candidates on average a hiring manager must interview to make an offer. Typically, a strong interview to offer ratio is around 33%.

However, looking at the interview to offer ratio for enterprise versus small-and medium-sized businesses, it is clear that during the last 12 months, Employ customers within the enterprise segment have seen historic highs in this conversion metric, ranging between 70% – 80%. SMBs, however, have seen a much lower interview to offer ratio , which could mean a higher number of quality candidates are given opportunities for interviews or employers want to widen the field when it comes to candidates reaching the interview stage.

Most Valuable Metrics to Track

So, what are the most important or most valuable metrics to track? Almost one-third (31%) of recruiters rank quality of hire as the most valuable metric they use to track recruiting success. This is followed by time to fill (14%) and cost per hire (12%). Diversity of talent pipeline is ranked as the least valuable metric to track recruiting success by one-fourth (25%) of HR decision makers. 

Most Valuable Sources of Hire

One quarter of HR decision makers ranked job boards as their most valuable sourcing channel, followed by internal hires (16%), social media (14%), employee referrals (13%) and their career website (9%).  This gives employers insight into the types of channels and sources that other companies are looking to when it comes to filling open roles in their companies.

When it comes to social channels used for sourcing, 41% of recruiters and talent acquisition professionals report that their company currently uses or plans to use LinkedIn as their primary social channel to find candidates, followed by Facebook (20%), and Twitter/X (10%).

LinkedIn outperforms other social media channels in terms of candidate quality, with more than half (52%) of HR decision makers ranking LinkedIn with the highest quality.

Start Measuring What Matters Most to Your Business

Bringing data together all in one place to see up-to-date recruiting funnel metrics, including sourcing effectiveness, application conversion rates, applicant flow, time to fill, and other key hiring metrics, enables talent acquisition professionals to help their business understand how to improve and drive efficiencies across the recruiting function.

Remember, recruiting is about speed, and knowing how to make faster, smarter decisions is how to stay competitive in an unsteady hiring environment.

Go deeper on recruiting metrics and the latest insights. Download the 2023 Employ Recruiter Nation Report: Moving Forward in Uncertainty.

The post Recruiting Funnel Metrics: Get a Handle in an Unsteady Market first appeared on Jobvite.

Organizing all your talent acquisition team’s data tied to sourcing, nurturing, interviewing, candidate experience, and diversity hiring (among a number of other critical elements of your overall TA efforts) in a unified recruitment dashboard in a centralized ATS is a game-changer.

Your enterprise recruiting org no longer has to go back and forth between disconnected platforms just to find the data points they need to take the next appropriate action with active opportunities in their pipeline and evaluate their progress with hiring-centric key performance indicators (KPIs).

Instead, they can simply turn to rich, refreshed-in-real-time analytics that dynamically update in a single solution and inform them of their recent and historical recruitment efforts (e.g., how long it typically takes them to fill open positions, which sourcing channels yield the best candidates).

The benefits of leveraging a recruitment dashboard in a leading ATS are clear. That said, it’s worth exploring why centralization of analytics is so crucial to enterprises’ long-term hiring success — and how yours can find the right data-driven recruiting solution for your talent team.

How your talent team can benefit from using an ATS with a centralized recruitment dashboard

“Recruiting data loses most of its value when buried behind a difficult interface or license limits,” said Employ Director of Product Marketing Brian Ewing. “Centralizing these insights in an accessible platform increases engagement, collaboration, and executive buy-in across the org.”

Simply put, there are many benefits of unifying your data into a single platform with recruitment dashboards that reveal the strengths and weaknesses of your TA efforts.

Hiring teams gain greater talent pipeline visibility

A unified dashboard makes it easy for all hiring decision-makers to stay informed about the progress of their talent team’s pipeline. The entire recruitment team can access the dashboard to get real-time updates on the number of applicants, interviews conducted, offers made, and positions filled.

This single source of truth also enables you to track your average time to hire, a critical metric for gauging the efficiency of your recruitment process. Access to real-time data allows your team to quickly identify potential bottlenecks and take corrective action.

Data-driven TA adjustments are easier to make

A comprehensive recruitment dashboard provides insights into crucial recruitment metrics. This enables your team to make data-driven decisions and constantly refine your recruitment strategy.

Consider your job boards. By analyzing each one you post to regularly, you can determine which ones yield the best ROI (i.e., the highest quantity and quality of leads). From here, you can double-down on proven talent sourcing channels and cease using ones that perform poorly.

Monitoring the performance of your team through a recruitment analytics dashboard also helps you identify trends and patterns over time, allowing you to better understand your talent pool, predict future needs, and allocate resources accordingly.

The hiring process becomes (far) more efficient

Having a holistic view of your funnel also enables you to manage the hiring process more efficiently.

That’s because you and others on your TA team — including hiring managers — can see the real-time progress made with the advancement of active and passive prospects in your pipeline.

Hiring managers can see how long it ultimately takes to fill roles. That means they don’t have to constantly check in on recruiters (i.e., interrupt their work) regarding their progress.

Access to dynamic recruitment dashboards also enables your talent team to allocate more resources to high-priority positions, understand which parts of your recruitment process require improvement (or even outright elimination, like interview stages that take too long and lead to high candidate drop-off rates), and prioritize which sourcing avenues are generating high-quality candidates.

Recruiters can accelerate their funnel activities

One of the main benefits of a centralized recruitment metrics dashboard is its ability to reduce time to hire. By tracking all relevant speed-related hiring metrics in one place, talent leaders and ops managers can easily ID areas for improvement.

In other words? The data-backed suggestions they offer to your recruiting staff can help eradicate TA bottlenecks and lead to reqs moving from approved to closed much more quickly.

Tracking KPIs can be simplified and streamlined

With a centralized hiring dashboard, you can track an extensive range of recruitment metrics that impact your hiring process. In addition to time to hire and full, you can monitor metrics like interview-to-hire ratio, cost per hire, offer acceptance rate, and much more.

With this data in hand, you can adjust your recruitment strategy and allocate resources more effectively to each job board, ensuring that you reach the best-qualified candidates sooner.

By analyzing each stage of your recruitment funnel, you can pinpoint areas that require improvement, set data-driven goals, and develop tailored strategies to achieve them.

Hiring managers can track recruiters’ progress

A unified dashboard empowers hiring managers to locate the data they need related to their open roles by giving them quick access to in-the-moment pipeline snapshots.

This info helps them make well-informed decisions, align their objectives with those of the talent team, and offer constructive feedback to improve recruitment strategies.

Why enterprises are increasingly turning to applicant tracking systems with a robust recruitment dashboard

It’s evident there are many pros of implementing a unified recruitment dashboard for your business. The question now for your team is: “Which TA tech should we invest in to create this analytics view and, in turn, take our data-driven recruiting and hiring efforts to new heights?”

The answer? A built-for-purpose, enterprise applicant tracking system with a native, out-of-the-box analytics tool that offers actionable insights into every facet of your talent strategy.

Consider Jobvite. Our ATS offers rich, dynamically updated recruitment dashboards tied to:

• Applicant volume and sources to see how many active job seekers enter one’s candidate pool and the channels through which they found job listings and applied

• Opens and replies to recruiters’ messages (i.e., one-off emails and email- and text-based nurture campaigns) to determine passive prospects’ engagement level

• Candidate milestones that denote just how many (and the types of) job seekers in your talent pool to advance to certain funnel stages and eventually accept offers

• General candidate activity: from visits to and posting clicks on one’s career site, to how many prospects entered prompts in a chatbot promoting a job opening

• Historical company analytics as it pertains to hiring success in recent weeks, months, and years (e.g., average time to hire/fill, interview speed/efficiency, etc.)

There are certainly other data resources that can aid your team’s hiring efforts. Many enterprises turn to business intelligence tools to get more granular insights into their recruitment.

For instance, many large-scale orgs blend data sets from their ATS with other HR and business tools to gauge quality of hire and even predict employee turnover and upcoming hiring needs.

But, there are drawbacks to relying on systems outside your ATS just to access data tied to your current and recent candidate attraction, engagement, and conversion efforts.

“Integrations and data warehouses can be great,” Brian added. “But, every time data needs to move, there’s an additional stakeholder who typically needs to be pulled. That just adds another barrier to both accessing and taking action on data.”

So, if you want to achieve monthly, quarterly and annual KPIs tied to headcount growth and hiring goals laid out by your C-suite, a centralized recruitment dashboard in a leading ATS is more than enough to act as your data-driven recruiting hub.

With easily accessible and actionable data your TA team can find in just a few simple clicks, you can ensure you stay on top of important candidate relationship management tasks that can help you move the needle hiring-wise at your company.

Get insights into Jobvite’s robust hiring and HR dashboards. Get a demo today to discover how our talent analytics can empower your TA team to enhance your data-driven recruiting.

The post Using a Recruitment Dashboard to Centralize Your TA Data first appeared on Jobvite.

Your enterprise’s definition of “effective” talent acquisition strategies likely differs from other large-scale orgs. The truth, though, is all big businesses run mostly the same recruiting and hiring playbook.

The only real differences between your talent acquisition processes and those of other companies is your company’s unique business model, goals, and hiring needs. That said, there are several tried-and-true recruitment approaches leading enterprises execute today to grow and scale as desired.

8 highly effective talent acquisition strategies

Between the time hiring managers submit a requisition to fill (or backfill) a job opening and a candidate accepts an offer, your talent team has worked tirelessly to identify, engage, and advance top-tier prospects throughout the recruitment funnel. During this time, your recruiters:

• Sourced and nurtured top talent from proven sourcing channels
• Prioritize talent management by leveraging your ATS’s (hopefully advanced and easy-to-use) recruitment database and pipeline management capabilities
• Screened strong-fit candidates whose skills aligned with job postings’ specs
• Introduced those individuals to hiring managers so they can assess leads’ fit
• Moved into the interview process in earnest to answer more questions about their experience and expertise and provide insight into how they’d tackle certain tasks
• Collected candidate feedback from interview panelists to gauge their sentiment
• Liaised with the hiring team to help decide which prospects deserved offers

To augment this process, though, your talent leader and ops manager(s) must do two things:

1. Evaluate your talent acquisition strategies from a high-level vantage point and analyze recruitment and hiring data to offer insights-centric suggestions and adjustments to their recruiters.
2. Learn how other enterprise orgs (those in and out of your industry) succeed with their respective talent acquisition strategies today — and even emulate some of their approaches.

With that in mind, here are eight effective strategies your talent team should try today.

1) Strengthen your employer brand

Reputation and perception impacts attraction. (Talent attraction, that is.) So, create a compelling and distinctive employer brand to act as the foundation of your successful talent acquisition strategy.

As the embodiment of your company’s greatest qualities, mission, and values, your employer brand should resonate with potential candidates and set the tone for their entire candidate experience.

A positive employer brand includes:

• A clear mission and vision statement
• Transparent company culture
• Competitive compensation and benefits packages
• Well-defined career paths and growth opportunities
• Positive employee testimonials and engagement

By highlighting your company culture on your website, social media, job boards, and all other touchpoints with candidates, you will make your org more appealing and recognizable.

2) Improve your job descriptions

Clear, concise, and engaging job descriptions attract the top candidates. Plain and simple.

By focusing on the specific skill sets required for an open role, including relevant terms tied to a position (i.e., ones related to day-to-day duties and desired impact), and showcasing your company culture and benefits, your job postings will be more likely to resonate with the right audience.

Just ensure your job descriptions are:

• Succinct yet specific outlining essential responsibilities and qualifications
• Fully inclusive, meaning they use gender-neutral language and tone only
• Aligned with your company culture and values as well as your brand mission
• Feature semantic keywords for enhanced searchability (job boards, search engines)

Also, look beyond traditional job boards and explore new ways of reaching your target demographic, such as niche job boards, industry forums, and social media. A well-written job description should paint a clear picture of the overall job expectations and offer an enticing look at your company.

3) Streamline your recruitment processes

A seamless hiring process not only enhances the candidate experience but also helps in avoiding losing top candidates to a competitor. Automate repetitive tasks, such as candidate tracking and interview scheduling, to simplify and speed up your recruitment processes.

Your HR department should also evolve its talent acquisition approach through regular communication with department managers, creating an open channel for feedback and adjustments.

That’s why Genuine Parts Company (GPC) brought on Jobvite’s advanced applicant tracking system with candidate relationship management capabilities: to remove as many barriers as possible from the moment someone starts an application, so they don’t click away and convert into a lead.

“If you’re simply maintaining speed, then you’re going to fall way, way behind,” said GPC VP of HR Operations & Compliance Kirk Allan. “The only way to stay competitive is to adopt the most innovative toolkit so you can race ahead at a very fast pace. Jobvite has now given us the ability to do this.”

4) Secure more employee referrals

Your existing employees could be your strongest talent magnets. For many enterprises, leveraging employee referrals has proven to be one of the most effective talent acquisition strategies.

So, encourage members of your workforce to participate in your employee referral program. How? Primarily, by offering financial incentives and keeping the process straightforward and user-friendly.

Offering incentives for referrals (e.g., $500 for any referred candidate who is hired and stays with the business for six months) not only motivates current employees to participate in the hiring process but also helps attract candidates who may not have otherwise considered applying.

The cornerstone of any successful referral program is a best-in-class ATS in which you can store referred leads and allow employees to submit said leads. Jobvite’s referral module helps orgs like ACCO Brands harness their social capital to attract high-quality talent.

5) Develop and nurture your talent pool

Building a strong talent pool — even during “down” periods when hiring is at a standstill — provides a ready source of potential candidates for your talent team to engage.

Constructing said pool is one thing. But, you also must actively engage with leads through nurturing relationships with targeted messages: both personalized (check-ins with particular prospects) and semi-personalized (newsletters about brand updates to “cold” candidates).

By proactively engaging with potential candidates and keeping them informed of job openings and company events, you can create a pipeline of talent ready to be tapped into when needed.

6) Strengthen your candidate experience

The candidate experience is a crucial element to consider in your talent acquisition strategy, ensure your hiring process is streamlined and transparent, providing clear communication and feedback to candidates at every stage.

To steadily enhance the quality of your candidate experience:

• Ensure job postings are clear, well-written, and accurately reflect the position
• Streamline application processes to lessen candidate frustration and drop-off
• Communicate frequently to keep leads apprised during the recruiting process
• Conduct respectful and transparent interviews and allow for feedback afterward

By prioritizing the candidate experience, you will not only attract top talent (and keep other employers from hiring them), but also improve your company’s reputation and increase retention.

7) Tap into your talent analytics

We live in the era of big data. Thus, it’s essential to harness the power of your talent data to discover and engage potential candidates. Make data-driven decisions by using advanced analytics to:

• Understand which sources and nurture approaches are strongest and weakest
• Identify skill set gaps in your current workforce (syncing with your HRIS/HCM)
• Forecast hiring needs, based on projected company growth and attrition
• Uncover info about industry hiring trends (through labor market reports)

Measurement is a vital necessity to the success of any talent acquisition strategies today. Ensure you have the requisite people, processes, and tools to evaluate these facets of your TA efforts.

8) Optimize the application process for mobile

Today’s job candidates live on their phones. So, your recruitment processes should prioritize mobile optimization. That is, you must ensure that your job postings and application process are optimized for mobile devices. Moreover, you must invest in mobile ads on job boards and social media.

By making the candidate’s mobile experience seamless, you will maximize the likelihood that they pursue your job opps. Look no further to learn the importance of a strong mobile experience for job seekers than Jobvite customer Hearth & Home Technologies (HHT):

• Combining Jobvite’s smart recruiting tech and a solid understanding of its talent market, HHT has leveled up their talent acquisition approach.
• By knowing what was important to them and the behaviors of their candidates, they used Jobvite’s Intelligent Messaging, which allowed their recruiting team to send text messages to candidates. This, in turn, has boosted candidate engagement and made interview-scheduling a breeze.
• Response from candidates immediately improved by nearly 50% for HHT after adopting Intelligent Messaging and Jobvite ATS.
• “We needed to be able to get to people where they were on the devices that they were using,” said HHT Director of Talent Acquisition Steve Lewis.

Adopting these talent acquisition strategies can help your org attract and retain top candidates, leading to increased productivity, innovation, and stability.

Want to learn more about how Jobvite can help you thrive in today’s hiring landscape? Schedule a demo to learn how our ATS can strengthen your talent acquisition strategy.

The post 8 Talent Acquisition Strategies to Inspire Your TA Team first appeared on Jobvite.

Within organizations large and small, the recruiting function has a huge opportunity to become more agile using data-driven insights, especially in light of the unsteady talent landscape.

As the talent landscape continues to evolve and challenges arise, recruiting teams have had to get even more nimble and learn how to analyze talent data in real-time to adjust and improve their processes.

From the number of open reqs to application source to candidate conversion rates, time-to-fill, quality of candidate, source of hire, DEI data, and internal mobility, there is virtually no end to the recruiting data you can track.

So, find out the most important metrics to your business and then keep a clear pulse on that data.

What is data-driven recruiting?

Data-driven recruiting is an approach to hiring that uses analytics specifically for talent acquisition to inform and improve the recruiting process.

For talent acquisition professionals, getting a handle on their analytics, creating visibility, and shining a light on the most vital aspects of their performance is critically important.

The right combination of recruitment software and services offers the capability to collect critical talent insights and provide real-time information on key recruiting metrics, making the hiring process more efficient for recruiters, more impactful for hiring managers, and more desirable for candidates.

3 reasons data-driven recruiting matters more than ever

1) Gain insights into the candidate, hiring manager, and recruiter experiences

When your organization taps into purpose-built recruitment solutions, it transforms the way teams look at the candidate, hiring manager, and recruiter experiences in their organization.

Data from AI and automation software provides a look at the hiring process from every angle to find areas of improvement and efficiency gains. Spot trends in these experiences in real-time and determine how you can improve critical areas based on the needs of your talent funnel.

Use key metrics like these to learn about your candidate, hiring manager, and recruiter experiences:

• Sourcing effectiveness
• Candidate conversion rates
• Application conversion rates
• Time candidates spend in the hiring process
• Hiring manager satisfaction
• Recruiter satisfaction
• Candidate satisfaction
• Quality of hire
• Overall time to fill
• Diversity of talent pipelines
• Employee retention rates

While many recruiting teams struggle in getting information about their talent pipeline, those that are able to quickly leverage data and the right automation tools can adapt their processes to deliver a better candidate experience and convert top talent.

2) Improve sourcing effectiveness

For too long, recruiters and hiring managers have had to find candidates based on feel and previous experience. But the sheer volume of open positions and time required to source quality candidates requires a better approach.

Data-driven recruiting can help you uncover more quality candidates by specifically understanding source effectiveness and measuring items like the number and quality of sourced hires.

Having the ability to measure, analyze, and refine your sourcing function is a key component to optimizing your entire recruiting operation.

With solid strategies, defined processes, capable CRM and sourcing technology, and thoughtful analytics, sourcing can become a core competency for any organization. This means you can find more talent from the places that deliver better hires consistently for your business.

3) Hire and retain higher-quality talent

A data-driven approach and the right recruiting analytics can help you analyze where candidates are entering the funnel so you can better nurture relationships and set your new hires up for success.

When you gain insight into your talent funnel, you can deliver a better candidate experience that drives recruiting results and leads to more engaged employees who will be engaged in their roles and stay at your company longer.

Understanding potential pain points based on data and identifying opportunities in the hiring process can help your talent team better find, attract, and nurture top talent.

Plus, managing expectations at every stage of the recruiting process can help you deliver quality candidates to hiring managers, a smoother, more engaging onboarding experience, and ultimately happier employees.

Remember, the recruiting and onboarding process is where talent acquisition teams set expectations and deliver initial impressions with candidates. This process should include providing accurate role descriptions, realistic views of the company culture, and information about remote work flexibility.

Deeper insights this way

Talent acquisition technology can bring the data together all in one place so you can see up-to-date candidate experience metrics, sourcing effectiveness metrics, and overall hiring metrics.

Tracking recruiting benchmarks can also help your business understand where their best sources of talent come from, so you can deliver more predictable hiring outcomes and get even more agile in your recruiting approach.

This piece on data-driven recruiting is an excerpt from our comprehensive guide: The Data-Driven Recruiting Handbook: Seven Ways to Leverage Talent Insights to Drive Results.

Download the full eBook for a complete understanding of how data-driven recruiting helps you reach your talent goals.

The post 3 Ways to Get Maximum Results from Data-Driven Recruiting first appeared on Jobvite.

Improving time to hire is always top of mind with execs, hiring managers, and talent acquisition leaders alike. But, it falls on the latter two hiring stakeholders to consistently seek new ways to streamline and optimize their search for top talent to fill job openings across your org.

Lowering your average time to hire through collaboration with all hiring stakeholders

Collaboration is a crucial component of success for every enterprise org today. One distinct area in which collaboration isn’t often optimized, though, is with talent acquisition.

More to the point, your TA team must liaise closely with hiring managers and interview panelists to steadily drive down the average number of days it takes to initially engage a candidate entering your funnel and getting said candidate to to accept the job offer.

“The hiring manager … initiates the hiring process, and a recruiter plays the role of the project manager by setting up the team, coordinating KPIs, and keeping everyone on track to achieve the end goal,” Belkins and Folderly Head of Recruitment Iryna Gazhala wrote for Recruiting Daily.

“Mutual support and trust make communication effective and a successful hiring process.”

Measuring time to hire after each interview process falls on your talent team. But, collaboration with hiring managers is a necessity amid the actual recruiting process. Some ways to work effectively with them include:

Understanding your specific hiring needs and preferences

Knowing the exact type of person a hiring manager wants to fill an open role on their team (i.e., day-to-day duties they’ll handle, long-term projects they’ll own and execute own, personnel they’ll oversee) makes it easy for talent specialists to source and engage the ideal candidate personas.

Once these folks are contacted regarding an available position, recruiters can move swiftly to screen them and advance optimal candidates to the first official interview with the hiring manager to go over the jobs specs and desired impact they want their new hire to have on the team and org.

Developing a concrete evaluation criterion for potential candidates

Speed is the name of the game with your pipeline management and recruitment process. But, you can’t effectively and expeditiously advance strong-fit candidates without knowing how to rate them.

Many leading enterprises use a uniform rubric or scorecard every time they interview a candidate to ensure everyone involved in the hiring decision-making process knows to evaluate those leads on the same exact criteria listed in the requisition and job listing.

Communicating and providing regular updates on candidate progress

Set reminders in your ATS to notify hiring managers when it’s time to provide feedback on interviewed candidates and ensure they submit their scores in a timely manner. (Within a day or two, ideally).

Moreover, premier ATS software also provides hiring teams with a single source of truth to communicate regarding the entire recruiting process. (Literally from start to finish). That means they can tackle tasks as needed and work in tandem to work faster.

Strategies to drive down your average time to hire with the right people, processes, and technology

Collaboration is key. But, it’s just step one of the process to speed up your hiring process. The following tactics and techniques can help you capably measure the time it takes to convert high-quality candidates and take the necessary action to remove bottlenecks to hire faster.

Leverage advanced applicant tracking software

A leading ATS solution with candidate relationship management functionality and engagement capabilities built in can significantly improve the efficiency of the recruitment process.

Moreover, they can view prospects’ most recent activity (e.g., nurture message opened/read, interview self-scheduled) and automate routine tasks such as resume screening and interview scheduling.

By streamlining these processes, the time spent on back-office administrative tasks can be reduced. And the focus can be shifted to candidate interaction and assessment.

Optimize job descriptions for clarity and specificity

Want the “perfect” candidates to apply for open roles (and at a high rate) so you don’t have to spend as much time proactively sourcing to fill positions?

In other words, avoid using jargon or ambiguous or exclusive language that might deter potential applicants. Offer a brief, accurate explanation of a role to deter poor-fit candidates from applying and get those with actual interest in — and the requisite skills to take on — the position in question.

Audit your screening and overall interview process

Screening can be time-consuming. That said, assessing how long it typically takes to chat with however many prospects you deem qualified for a role can help speed things up.

Consider using pre-employment assessments and structured interviews to quickly assess relevant skills, qualifications, and abilities and determine if they’re a match for an opening.

Train all your hiring managers and go-to interview panelists on standardized interview techniques, including how to evaluate candidates objectively (i.e. in an unbiased manner).

Having (and always abiding by) a structured interviewing approach help improve time to hire. Equally as important, though, it also ensures a better candidate experience, since prospective hires don’t have their time wasted by your hiring team and feel their being properly considered for the role.

Find out how you and your talent acquisition team can decrease your average time to hire — and increase your quality of hire — with our Evolve Talent Acquisition Suite.

The post Reducing Time to Hire: A Collaborative Effort first appeared on Jobvite.

The demand for skilled professionals continues to surge among employers worldwide today. The harsh reality is businesses that wish to thrive amidst this competition must invest in their people — and that means taking full advantage of their (likely robust) candidate data sets.

It’s no longer enough to simply rely on gut instinct or basic metrics to make informed decisions about the talent to bring onboard and retain at your organization. That’s where talent analytics comes into play.

This need for deeper-level HR/TA data comes as a response to the rise in competition for skilled workers, leaving talent acquisition leaders grappling for insights into the people and skills needed for continued success.

In short, talent analytics is a strategic tool that enables recruiting teams to go beyond simple metrics and gain a deeper understanding of talent in their database. Simply put, those who fail to leverage it have effectively put blinders on to the needs of their organization’s future success.

The power of talent analytics

Improve application completion rates. Better recruitment marketing engagement. More opens of and replies to nurture emails. Savvier and swifter interview processes. Talent analytics empowers enterprise recruiting teams like to operate smarter and faster and improve key facets of their TA efforts such as these.

This includes everything from tracking key performance metrics such as time to fill and cost per hire to analyzing candidate data through onboarding and retention to better understand which sourcing channels and tools are most effective in attracting top talent.

With robust, real-time talent analytics at your disposal (and, ideally, in a single source of truth with other applicant-tracking and candidate relationship management capabilities), you can make more strategic decisions throughout your TA process, resulting in greater success in attracting, hiring, and retaining top talent.

“Data-driven talent acquisition teams are more likely to be successful than organizations hiring blindly,” Society for Human Resource Management Online News Manager & Editor Roy Maurer recently wrote.

Benefits of talent analytics

Talent analytics is one of the most powerful tools available for this purpose, enabling organizations to gain a deeper understanding of their recruitment processes, identify areas for improvement, and make decisions based on solid data.

Here are the primary use cases for talent analytics to revolutionize your organization’s talent acquisition process, resulting in increased success in attracting, hiring, and retaining top talent.

Identify key recruitment metrics

Talent analytics is a transformative tool that empowers companies to easily identify the most critical recruitment metrics. With the ability to track key performance metrics such as time to fill, cost per hire, and quality of hire, talent acquisition leaders can gain a deeper understanding of the effectiveness of their hiring strategies.

For example, which hiring managers are taking longer than necessary to interview candidates, losing weeks of hard work, and which method of contacting candidates yields the best results? However, don’t just grab a list of another company’s goals. What is unique to your business?

While time to fill measures the duration between the job posting and filling the position, it doesn’t consider the quality of the hire. On the other hand, time to hire defines the time from initiation to acceptance of the job offer and indicates how efficient the hiring process is.

All in all, it’s a more accurate metric to measure a recruitment team’s performance.

Improve the candidate experience

Talent analytics represents a transformative tool that can help orgs like yours create a more positive candidate experience during the recruitment process. By analyzing recruiting data, HR pros can gain valuable insights into the most effective ways to attract and retain top-tier talent.

This could include streamlining application processes, improving communication between candidates and recruiters, or even identifying potential organizational cultural improvement areas.

Not only does this enhance the organization’s reputation, but it also helps create a more engaged and committed workforce that can lead to long-term business success.

Retain top talent at your business

Talent analytics enables orgs to understand the drivers of employee engagement and retention.

By analyzing employment data, talent acquisition leaders can identify factors contributing to employee satisfaction and commitment, such as compensation, benefits, work-life balance, and career growth opportunities.

With this information, organizations can take proactive steps to improve these areas, reducing turnover costs and retaining top talent for the long term.

By leveraging talent analytics, organizations can stay ahead of the curve by making data-driven decisions that improve employee satisfaction, increase retention rates, and create a more engaged and committed workforce.

Predict your talent acquisition needs

With the help of data-driven analytics, HR pros can predict future talent needs and proactively create strategies to address recruiting benchmarks, ensuring their business remains competitive in the evolving job market.

By leveraging data-driven analytics, talent acquisition leaders can identify trends in the job market, analyze internal employment data, and make informed decisions about which skills and competencies to prioritize in new hires.

With this information, talent acquisition leaders can create proactive recruitment strategies that address recruiting benchmarks, reducing time to hire and improving the quality of candidates attracted to the organization.

Help keep hiring managers engaged

One area that often gets overlooked is the importance of hiring managers. If they’re not satisfied with the recruitment process, it can hold things up and cause delays in getting new talent on board.

On the other hand, if they’re happy with the quality of the candidates and the speed at which positions are filled, they can be instrumental in making the recruitment process successful.

Get buy-in from your executive team

Understanding your organization’s true business objectives is one thing. Proving you’re correct? A little more challenging without talent analytics.

For example, acceptance rate as a performance metric. Some would argue this metric is crucial because it tells you if your company is effectively attracting and retaining top talent.

With historical data and talent analytics backing you up, you’ll have a clearer idea of why someone might reject an offer from your company. Maybe your compensation package is not competitive enough, or perhaps you need to work on your company’s image and reputation.

With talent analytics, you can identify these patterns and make data-driven decisions to drive meaningful change in your department — and, in the grander scheme of things, for your company at large.

Implementing talent analytics at your organization

In today’s competitive job market, you can’t afford to take a reactive approach to talent analytics implementation. Utilizing talent analytics can help you identify the most effective recruitment strategies, improve the candidate experience, retain top talent, and predict future talent needs.

However, implementing talent analytics is more complex than flipping a switch.

It requires a comprehensive, well-planned approach that considers the unique needs of your organization — and what specific tech that will enable you to make more intelligent hiring decisions.

A few of the essential steps to implementing talent analytics successfully include:

Setting clear objectives

Clearly define your talent acquisition goals and objectives, focusing on your organization’s decided key performance indicators (KPIs) to track your progress. These KPIs could be acceleration through the process, length of retention post-hire, internal vs. external hire, and so on.

Let’s use an example of Number of Qualified Candidates as our KPI and walk through the process of how talent analytics can accelerate and supercharge this one key area of recruitment success:

Collecting and centralizing data

Gather relevant employee data, such as demographics, performance reviews, and skill sets to get a clear picture of success as you define it. Just be sure to remain compliant with data regulations.

To start, you need to collect data on the number of qualified candidates that make it through your recruitment pipeline. This data can come from any source you’re using in your process, whether it’s your applicant tracking system (ATS), Excel spreadsheets, or other data-gathering tools.

Once you’ve collected the data, you need to analyze it to gain insights into your recruitment process.

Analyzing talent analytics dashboards

Utilize analytical tools and techniques to generate insights from the collected data, identifying trends and patterns that influence your KPIs and noting what needs improvement.

By analyzing your acceptance rate over time, you can identify patterns and potential issues, such as a low acceptance rate for a certain job category or location, and adjust your hiring strategy accordingly. For example, you may need to re-evaluate your compensation package or your employer branding efforts to attract top talent.

Taking action on your insights

Use the generated insights to create data-driven strategies to improve your recruitment and retention processes and ultimately achieve your KPIs.

Maybe you notice a low number of qualified candidates. This could point to issues with your sourcing efforts. Perhaps you’re not casting a wide enough net or targeting the right candidate pools.

Or, maybe there’s an issue with screening your candidates, and you’re not identifying the right skills and experience in the applicant pool. This could lead to different sourcing methods and renewed job descriptions and advertisements as tangible changes.

Evaluating your performance

Continuously monitor and evaluate the success of your strategies by analyzing your KPIs and adjusting your approach as needed.

By tracking key performance indicators such as time to fill, candidate experience score, and interview-to-offer ratio, you can gain valuable insights into your recruiting process’s effectiveness. But it’s not enough to analyze these metrics once and forget about them.

The world of talent acquisition is in constant flux, and organizations that adapt their HR strategies with the help of talent analytics will ultimately have a competitive edge.

By incorporating robust, real-time talent analytics into your business, you can ensure that your org makes the best possible people decisions, leading to tremendous talent acquisition success.

Learn how the robust, dynamically updated talent analytics in Evolve, our complete talent acquisition suite for enterprises, can help your TA team make smarter, faster decisions.

The post Talent Analytics: The Key to Unlock Greater TA Success first appeared on Jobvite.