Recruitment Dashboard ExampleWant this? Start your free trial.
Recruitment Dashboard Purpose: Monitor the effectiveness of your hiring process and prioritize workload.
Who is a Recruitment Dashboard for? Human Resources or Talent Acquisition Managers.
Why is a Recruitment Dashboard useful? Recruitment is at the core of any growing organization. As a Talent Acquisition Manager, you need to juggle speed and quality of hires to meet the company’s needs. Therefore, success is often dependent on the ability to spot threats early in the process and adjust your strategy accordingly.
Tracking the right recruitment metrics to quantify your process is an efficient way to get an overview of performance. This recruitment dashboard uses key metrics to monitor the effectiveness of your sourcing efforts against costs.
If you are looking for a broader dashboard to monitor your activity, this Human Resources dashboard could be a great starting point.
What Recruitment metrics does it contain? The process of finding the right talent requires great coordination and planning skills. Talent acquisition metrics offer an overview of the recruitment process in terms of duration, costs, and efficiency of candidate sources. Any changes across these areas will help the team take action and improve results. For example:
Scenario 1: Have you noticed that your external costs have doubled in the last few months, but you have not been able to fill any open positions?
Action: Revise your external sources of hiring. Despite investing in finding the right candidates, you are not getting the best results. Check the top traffic sources for your careers page for inspiration and consider re-allocating some of your budget towards these new sources.
Finding the right talent is closely linked to posting your vacancies in the right places; some sources are more appropriate for certain roles, so tracking source effectiveness will be a good indicator of your success. For example:
Scenario 2: Has your time to fill increased recently?
Action 1: You may be looking in the wrong place. Check which are the sources with the highest candidate to hire yield ratio and focus your efforts there.
Action 2: Identify which stages are causing the bottleneck. You may need to deploy better screening techniques so that only qualified applicants make it to the next stage.
Action 3: Break down your time to fill by department. You may find that the increase is due to external factors like poor supply of java developers skewing the overall picture. In this case, consider breaking out the hiring time into low supply and high supply roles to get a more accurate picture.
External sources are useful to expand your candidate reach, but they should not replace the one source you have full control over–your own careers page. Tracking activity on this page, is a great way to identify early threats, such as unclear job specifications, seize opportunities, and optimize costs. For example:
Scenario 3: Have you noticed an increase in page views for your careers page, but your application completion rate is quite low?
Action 1: Potential candidates are definitely interested in finding out more about your job openings, to the point that they start applying, but fail to submit the application. If your application process is too lengthy, this may be a blocker. Consider shortening the process and monitor the results to see if you’ve made an improvement.
Action 2: Investigate whether the drop-off is job specific. If that is the case, consider rewriting the job specification. Candidates may find it unclear, which can prevent them from completing the application.
Ultimately, tracking costs is always useful when you are analyzing the quality of recruitment sources and planning recruitment budgets. However, don’t get stuck on analyzing it in isolation. It’s better to hire with quality rather than costs in mind. For example:
Scenario 4: Has your cost per hire increased in the last few months?
Action: Check your activity in the last few months. You may have started using more expensive recruiters, since they have been delivering high quality hires. Or you may have started advertising in paid, instead of free job boards–this cut the screening time in half. Lastly, you may have hired a few highly paid members of staff. Any such situations would constitute legitimate reasons for the cost per hire to increase, but would not be a cause for concern.