{"id":1178,"date":"2013-01-07T09:57:47","date_gmt":"2013-01-07T09:57:47","guid":{"rendered":"https:\/\/www.bullhorn.com\/?p=1178"},"modified":"2019-03-01T21:26:25","modified_gmt":"2019-03-01T21:26:25","slug":"5-metrics-for-your-workweek-tuesday-sales-forecast","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/eu\/blog\/5-metrics-for-your-workweek-tuesday-sales-forecast\/","title":{"rendered":"5 Metrics for Your Workweek – Tuesday: Sales Forecast"},"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

Monday\u2019s metric was all about examining the Job Orders in your pipeline. Tuesday\u2019s is even better: it\u2019s about showing you the money. Specifically, the expected revenue from your bookings, sliced by employee. Today your daily dose of data will be Sales Forecasting<\/strong>. Insert cash register noise here. Especially at the beginning of the year, knowing how much revenue your employees are expected to bring in each month is important. Not only does this help you estimate whether your business is on pace to break last year\u2019s revenue benchmarks, but it\u2019s also a good real-time indicator of the health of your pipeline. It reveals action items: if the Sales Forecast<\/strong> is weak, you need to spend more energy generating leads. If it\u2019s strong, then you can shift your focus to making sure each and every Placement gets made. Recruiting firms that don\u2019t keep an eye on their forecast run into situations where they are blindsided by revenue gaps. We often see a cyclical effect in many staffing firms with high and low months – this is often blamed on seasonality, but in reality it is often as a result of cyclical behavior of reps, months of hard core cold calling, followed by months with less calls and more action on getting candidates into the jobs. \u00a0In the end, firms are left scrambling for answers, and nearly all of the time, it\u2019s too late to do anything about it. Knowing your Sales Forecast<\/strong> months in advance gives you time to take action on an upcoming weaker month, so that they might not be so weak after all. This predictability in your revenue stream can stabilize your sales team and help them see the big picture. Knowing your Sales Forecast<\/strong> by employee will also show you:<\/p>\n