5 Metrics for Your Workweek – Thursday: Time-to-Fill by Employee
Welcome to a new Bullhorn Blog series entitled “5 Metrics for Your Workweek.” InsightSquared and Bullhorn 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.
It’s Thirsty Thursday and what’s the only thing that’s going to quench that thirst? You guessed it, another metric to get you running your business by the numbers. (That is what you’re thirsting for, right?) Today, let’s examine your employees’ Time-to-Fill cycles and how you can use this information to increase efficiency at your company. The Time-to-Fill report shows you the average length of time it takes each employee to place a candidate across all his or her clients. Of the Placements made in the time period you select, you also see how long on average they spent in the various stages (Interview phase, Sendout phase, etc). We would all agree that a shorter sales cycle is better. With this report, you can see which employees closed faster. This is great to know so you can see what they are doing right, and share the learnings with the rest of your team. This report is a great tool to diagnose potential problem areas in an employee’s process. Maybe Jill’s Placements usually spend way too long in the Job Order phase. Why might that be? It’s worth a discussion with her seeing if you can diagnose whether the problem is something operational or simply that she hasn’t been entering in her data correctly into Bullhorn (as always, a prerequisite to getting good analysis from your metrics). Likewise, if a sales cycle is very short, could it be that an employee is creating and closing Job Orders in the system the day the Placement is made? That’s not a great use of your applicant tracking system (ATS), and needs to be fixed if you want to find opportunities to improve your business. Without great use of your ATS, you can’t find a baseline from which to improve.
The Time-to-Fill report will also answer for you:
- What stage is typically longest in your process?
- How was the last quarter’s Time-to-Fill compared to the previous quarter? Are we getting better at this?
- Are employees skipping stages? (Usually a sign of poor Bullhorn usage)
Everyone wants their employees to work efficiently. This report can show you which employees are speed demons closing deals, giving you the impetus to find out their secret sauce. There’s no reason a veteran shouldn’t be mentoring the team with ideas on how to decrease Time-to-Fill. It’s a team effort, and you can easily build in incentives to team leaders for decreasing the overall sales cycle length over time. Want an easier way to pull this metric? Ask your rep about InsightSquared today!
About the Author
Robert Woo is the Marketing Manager at InsightSquared. You can read more of his analytic entries at InsightSquared.com.