3 Surprising Recruitment Statistics in APAC and How To Turn Them Into Opportunity

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At Engage Sydney, May 2022, Bullhorn’s Joe McGuire, Sales & Strategy Director, Analytics and Weston Wright, Solutions Consultant spoke about how you can, Make Better Business Decisions with the Help of Analytics. During their session, they highlighted how Bullhorn Analytics can be used to capture and understand data giving your recruiters powerful actionable insights. Together, Joe and Weston shared three surprising recruitment statistics and how analytics can be used to drive key actions at the desk level to capitalise on the opportunities they present. Read on to find out what the statistics were and how you can make the most out of them.

3 Surprising Recruitment Statistics in APAC

1) Only 7.4 percent of candidates interview with more than one client

How can you turn this into an opportunity?

The statistic above doesn’t seem so surprising by itself, but what if I told you the likelihood of placing a candidate with one interview is only 22 percent? This number jumps to 39 percent for candidates with two interviews and increases to 48 percent for three interviews. Put simply, the more interviews a candidate has, the higher the chance of a successful placement.

Using Bullhorn Analytics actionable insights you can extract more value from your data so consultants know exactly what tasks and actions they should take to better utilise your candidates. Joe said it’s about “driving behavioural change in consultants, helping them work smarter not harder.” Bullhorn Analytics key metric ‘Candidates with Interview Not Submitted to Any Other Job’, helps to uncover the candidates that can be double or triple utilised to increase your chances of a successful placement. You can also easily identify the consultants who regularly create new relationships, taking candidates through to the interview stage then leaving their hard work unrewarded by moving on. By highlighting this behaviour to the consultant you can help to drive change at the desk level and increase chances of placement.

2) APAC contractor redeployment rate is eight percent

How can you turn this into an opportunity?

Jeff Neumann, Bullhorn’s VP Product Marketing noted in his opening keynote address, globally contractor’s are redeployed 40 percent of the time, yet in APAC this number falls dramatically.

Joe stated, “contractor redeployment is the biggest missed opportunity in the recruitment industry” as the majority of candidates you’ve worked with are currently getting placed into their next roles by another agency. In order to understand how well your agency is doing in candidate redeployment, Weston detailed how you can use ratios within Bullhorn Analytics to get a high level view. Go one step further using Analytics ‘Contractor Health’ insights to see what is actually happening with your contractors. In Contractor Health, consultants will be able to see a range of metrics including the number of contractors ending soon, contractors extended, contractors at risk, contractors who have been redeployed and more importantly those who have the potential to be redeployed. If you’re using Bullhorn Automation, consider adopting it to support your consultant’s efforts in redeployment. You can do this by implementing an automation to match contractors whose assignments are ending soon with jobs that fit their availability. Watch the session recording for further detail.

3) 50 percent of clients placed within 2020 have since lapsed

How can you turn this into an opportunity?

According to Bullhorn data, 50 percent of clients that agencies in APAC worked with in 2020, making at least one placement have lapsed, meaning the same agency has not placed with them in 2021 or 2022 so far. There is a huge opportunity here to prioritise client service now with a long term view towards the future. In the first panel discussion at Engage Sydney, Martin Hayden, Chief Operating Officer at Hudson spoke about the importance of establishing relationships with clients even if that doesn’t lead to new jobs right now for your agency. Joe agreed with Hayden’s sentiment saying “there’s a lot that can be done now, today, to put the business in the best position possible for when the [market] change comes”. He added, “understanding who your best and worst clients are, and why then strategically prioritising how you service them now is what will put you in the best position for the future”.

Use Bullhorn Analytics actionable insight ‘Companies Placed within Last 12 Months not called in Last 30 Days’ to help track the clients you may want to get in touch with. Specifically, this insight uncovers the companies where you have placed a candidate in the last 12 months, who have a status of active within your database but have not been contacted or called within the last 30 days. You can view this information in a list view, across multiple years to understand trends so a consultant can contact the most valuable clients first. As above, you can also use Bullhorn Automation to automatically locate and reconnect your team with lapsed clients.

 

If you would like to watch the session video, click here to view or if you’re interested in tickets for Engage 2023, register your interest.


Want to learn more about how Bullhorn Analytics can help your agency unlock powerful actionable insights? View our product page or reach out to your account manager today.

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