{"id":1175,"date":"2013-01-07T15:43:05","date_gmt":"2013-01-07T15:43:05","guid":{"rendered":"https:\/\/www.bullhorn.com\/?p=1175"},"modified":"2019-03-02T09:09:51","modified_gmt":"2019-03-01T22:09:51","slug":"5-metrics-workweek-wednesday-placement-funnel","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/au\/blog\/5-metrics-workweek-wednesday-placement-funnel\/","title":{"rendered":"5 Metrics for Your Workweek – Wednesday: Placement Funnel"},"content":{"rendered":"

Welcome to a new Bullhorn Blog series entitled \u201c5 Metrics for Your Workweek.\u201d InsightSquared<\/a> and Bullhorn<\/a> are teaming up to get you more involved and engaged with your data. Read a new business intelligence metric tip each day and learn how running your recruiting business by the numbers can help drive success.<\/em><\/p>\n

Here\u2019s the next metric for your workweek, especially designed to get you over the hump. Today, let\u2019s examine what you can learn from your Placement Funnel, one of the most interesting and potentially the highest ROI report you could be running from your Bullhorn numbers. This report has immediate implications to increasing your bottom line, so minimize Facebook for a moment and dive on in.<\/p>\n

The Placement Funnel<\/strong> is a visual way of understanding how many of the total Job Orders you start with eventually become Placements, with conversion rate for each step in your process. From Job Order to Internal Submission to Sendout, all the way to a made Placement, this funnel shows you how efficiently you are converting your flow step-by-step. Knowing where your weakest conversion step is will show you exactly what part of your process needs improvement, giving you a clear action item that will directly affect your revenue.<\/p>\n

For example, say your worst conversion step is from Interview to Placement. It currently stands at 45%, leading to 297 Placements (from 660 Interviews). Let\u2019s say you coach your team so they know how to prep their candidates to interview better and this conversion rate goes up by just 10%. At 55%, you\u2019re now seeing 361 Placements made, an improvement of nearly 22%. \u00a0If you take it further and assume your average placement fee is $X \u00a0that means an additional $Y in revenue. A huge win.<\/p>\n

With this in mind, how will your approach to coaching your team change? Knowing that you want to focus on a specific stage in the deal process, in this case Interview to Placement, it will hone the topics you discuss with your employees. Does your team have the depth of knowledge required in this sector to be successful in coaching candidates for interviews? Do they need to shore up on this vertical? Maybe you need to chat with the client again to zero in on what they\u2019re really looking for in a candidate?<\/p>\n

Knowing your Placement Funnel<\/strong> will also tell you:<\/p>\n