Tracking your staffing metrics improves the overall hiring results, from better sourcing to quality of hire, and ultimately, improved satisfaction rating.
Yes, we recognize it is baffling to figure out the recruiting metrics which can add value to your company and help you stand amongst your market rivals. Therefore, in this article, we've outlined a step-by-step guide to measure your staffing metrics. So, read on to find out:-
First things first, you've to decide what metrics you've to measure, right from time-to-fill, acceptance, retention rate to cost per hire. Once you know what staffing metrics you want to keep a tap on, the next up is setting a baseline for each metric—, in simple where you are — and set goals where you want to be.
By doing so, your staffing team and your organization's senior authority can effectively evaluate your staffing process. The various metrics must be tracked consensually, and analyze data and trends are the cornerstones for success in the neck-throat competitive staffing industry.
You don't need to be a big organization or invest in an Application Tracking System (ATS) to track your metrics. Instead, all you require is an excel sheet. Ask each of your staffing managers to regularly email their daily reports, including how many candidates they sourced, how many appeared for the interviews, how many were hired, job acceptance, and their candidate retention rate.
Enter the data into the excel sheet and compare it with the previous week's data. All this will present you with a clear idea of what marketing efforts are working and where you need to improve to drive better results to strengthen your client relations.
You must sit down with your team to brainstorm all the possible reasons why the company is not getting the expected results. Take as many inputs, right from the senior managers to the freshers, group the reasons, and later analysis in detail to take significant action to fix the issues for sustained growth in the future. It will eventually help you build a fool-proof strategy that enables you to develop long-term partnerships with your diverse business clients of varied industries.
Before you make any changes to your staffing process, make sure you and your team note down the baseline metrics. So, that later on, they can be weighed against the metrics obtained to post the changes' implementation.
Last but not least, you've to continuously revise and repeat the first to fourth steps to stay competitive in the industry. If you don't monitor the metrics, you won't be able to know whether you are making any progress or heading in the wrong direction.
Measuring metrics manually isn't as easy you might perceive—no matter you're a startup, SME, or a big enterprise—, and dedicated staffing software can certainly help. Staffing solutions have several management tools that agencies can leverage to evaluate data efficiently.
NextCrew is a fully-integrated cloud-based staffing software solution with advanced sourcing, candidate paperless onboarding, and payroll management capabilities. It provides a more in-depth look at the various staffing metrics for making data-driven decisions.
By partnering with NextCrew, you can stay one step ahead of your staffing competitors by enhancing client satisfaction. If you want to know more about how this software works, you can schedule a FREE demo today.