The Candidate Pipeline
It can be a challenge to consistently and predictably attract, qualify and hire high-quality candidates as quickly and efficiently as your business needs.
The good news is, candidate pipeline analytics will help you get there.
A deep look at your candidate data can give visibility into what’s working or not working with your hiring process and pinpoint where you need to focus to successfully progress quality applicants to close.
At the core of Candidate Analytics, there are two key metrics, volume and conversion rates. Knowing your volume and conversion rates from initial candidate identification through to offers accepted can provide insight into:
Attracting high-quality candidates
Analyzing the volume and conversion rates of the number of candidates that have progressed to each hiring stage lets you know if you are attracting enough high-quality candidates.
Identifying pain points in your process
Analyzing volume and conversion rates between each of the stages will let you know where there are bottlenecks and where candidates are dropping off.
To see the Candidate Pipeline in action let’s take a look at 2 scenarios.
If these rates are expected, you can quickly understand if you have the right volume to meet hiring needs. If these rates are too low, then you can focus on understanding where to make changes to increase conversion rates.
This seems to indicate that there is an issue in screening for the right candidates. Are adjustments needed in the screening criteria being used by recruiters to better match the needs of the hiring manager?
In addition, take a look at how companies like Sysmex are using their Candidate Pipeline and other recruitment dashboards to connect their data that delivers critical visibility and insight that fuels talent decisions.
With data-driven insight into your Candidate Pipeline, you are armed with evidence and actions to address the challenges in your recruiting process. Your analytics support and help facilitate the conversations with the business – with hiring managers on the candidate criteria, and with executives on needed investment to support your talent acquisition strategy.
Candidate Pipeline Analytics is a powerful asset to focus your talent acquisition strategy where it matters, evolve your recruiting process, and communicate with the business. Learn how we do it.