Do you know how your recruiting channels are performing against business outcomes?
Recruiting channel analytics can help answer these, and other, questions. And as a result, drive more strategic talent acquisition.
A deep look into your recruiting channel performance can reveal, for example:
- that LinkedIn provides the highest performing hires but 55% of these new hires leave in the first year
- that the new job board you’re using nets a high volume of applicants, but only 5% make it to interview
Clarity and direction from channel data segmentation helps your recruiting team focus and drive the right sourcing investment decisions. In addition, the targeted conversations you can have with stakeholders and sourcing partners when equipped with this insight.
While a bit dated, this SHRM Talent Acquistion Benchmark report provdes helpful base data as a framework. The report includes key recruting channel analytics data points such as:
- Cost-per-hire
- Requisitions per recruiter
- Recruitment expense to HR expense ratio, and others
When assessing your talent acquisition strategy, recruiting channel analytics informs a thoughtful approach. Reports like the one from SHRM can help. Additional ideas are included in the the following infographic. And of course, the HireRoad HR analytics experts will happily share best practices too. Get in touch any time.
