The talent lifecycle can be complex, but we’ve broken down three key metric areas to help you seamlessly track:

The effectiveness of your talent engagement strategies

The efficiency of your submission processes

The success of your redeployment efforts

Engagement metrics

Attracting new candidates is crucial in any recruiting process and requires consistent outreach on various channels. But just sending automated emails and texts to talent is not enough.

You need to regularly evaluate the success of your outreach strategy and make changes where needed. Measuring the performance of your campaigns with A/B or multivariate testing – meaning you’re evaluating the performance of one or more variables in a campaign – will lead to improved performance over time, helping your team attract more candidates for your clients at a lower cost of acquisition.

Get started by measuring the two foundational engagement metrics

open rate

click-through rate

Move the needle on these metrics

After determining these metrics, look for areas of improvement based on your talent engagement goals. Are your emails not getting opened? Try A/B testing different subject lines to see which makes the biggest impact.

Looking for subject line ideas? Check out these suggestions.

Are not enough candidates clicking on the CTA in the email? Try testing different combinations of text, buttons, and images. You can also change up the time you send emails or incorporate text messaging and/or chatbots to meet candidates where they are.

Engagement metrics are just the first step in building a Connected Recruiting flywheel. Next, look at your talent funnel to understand your team’s operational efficiency.

Talent funnel metrics

66% of talent abandoned a promising opportunity because the process was clunky and took too long, according to our latest GRID Talent Trends Report. If your team cuts that number in half, imagine the number of qualified candidates entering your database and getting submitted to your clients.

CR_KPIs_KeyQuestions_V2

While there is undoubtedly pressure to find top talent in today’s market, staffing firms are losing candidates to outdated or lengthy talent lifecycles.

To truly transform your talent funnel, start by evaluating your process with these questions.

Percent of leads that became applicants

Percent of leads that became qualified candidates

Percent of candidates that your team submitted

Percent of candidates that made it through onboarding

Percent of candidates that became employees

The rate and speed at which you convert talent in your pipeline are directly related to your time to fill, redeployment rates, and overall gross margin.

Improving your talent funnel metrics will help build a talent-centric flywheel that, with momentum, helps grow your business and improve your engagement strategies.

Focus on these metrics that matter.

Move the needle on these metrics

Once you determine your rates on talent funnel metrics, you can identify problem areas or bottlenecks that negatively impact your candidate and client experience. From there, you’ll notice improvements in everything from candidate experience to redeployment rate.

Redeployment metrics

Happy candidates become happy employees. Happy employees have been proven to drive referrals, references, and reviews for your business.

In a Bullhorn survey of temp workers, 22% of talent cited reputation as the reason they chose to work with a firm1, the second biggest reason outside of access to a desired job.

1 %

Talent that cited reputation as the reason they chose to work with a staffing firm, the second biggest reason outside of access to a desired job.1

1 x

More placements come from referrals than any other lead generation tactic.2

So what are you doing to ensure your referrals, references, and reviews are where they need to be? Are you getting talent insights from surveys? What is your referral rate?

It’s time to ensure your team knows these key metrics to build a talent-centric flywheel and transform your redeployment strategy.

Focus on these metrics that matter

redeployment rate

referral rate

Transform your redeployment strategy by paying attention to these two areas:

NPS surveys

Send surveys to all candidates and clients to understand what your team does well and where they can improve, and identify who might be a source of a referral or redeployment.

Google ratings and review sites

Monitor your presence on review sites like Google and Glassdoor to better understand your brand reputation, success areas, and ways your team can improve your talent engagement process.

With insight into your redeployment metrics and survey responses, you can put strategies in place to capture more feedback and nurture talent with a focus on building long-lasting relationships. Uncovering these metrics can help improve your understanding of the candidate journey and enable your team to make changes that truly impact the candidate experience for the long haul.

Ready to build your Connected Recruiting flywheel?

Find out how