{"id":58507,"date":"2017-01-05T14:53:43","date_gmt":"2017-01-05T19:53:43","guid":{"rendered":"https:\/\/www.bullhorn.com\/eu\/?p=20576"},"modified":"2019-03-01T21:24:08","modified_gmt":"2019-03-01T21:24:08","slug":"data-into-action","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/eu\/blog\/data-into-action\/","title":{"rendered":"4 Ways Recruitment Agencies Can Turn Data Into Action"},"content":{"rendered":"

Growth is a magic word for businesses, but it can come with complications, specifically when it comes to data. Business growth means more employees, more recruiters, more activity, and more data to track! With all of that data, accessing and using it can be difficult, and making sense of the bigger picture can feel impossible. But getting the most out of your data is actually quite achievable with the right tools and the right approach. With that in mind, here are four tips for using your data to make an impact.<\/span><\/p>\n

Improve Resource and Time Allocations with Analytics<\/b><\/p>\n

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Smart reporting leads to better resource allocation. #Recruitment #Analytics<\/a><\/div>\n

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Time and budget are the two most precious resources to any business, and analytics allow you to make the best use of them. For maximum operational efficiency, run reports that enable you to reallocate resources to where they will be most valuable.<\/span><\/p>\n

This is especially vital when tracking employee performance and business health metrics. Which accounts need more attention? Which accounts have the most activity? You can also reallocate budget to accounts based on profitability. Reallocate dollars from accounts with underperforming margins to those with the healthiest margins. Adjusting targets based on your strengths is a reliable and effective way to boost ROI. Smart data-based business strategy leads to decreased costs and increased revenue.<\/span><\/p>\n

Reallocation is equally important when it comes to candidate sourcing. For example, monitor which sources you invest in and which sources result in the most revenue and placements\u2026 or least revenue and placements.  Track<\/span> submissions by location and job type to get a better understanding of future needs<\/span>. Understanding your candidate sourcing data enables you to become far more efficient at sourcing the right candidates for the right jobs.<\/span><\/p>\n

Stop Waiting!<\/b><\/p>\n

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Stop waiting to run reports that will help your business. #Recruitment #Analytics<\/a><\/div>\n

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Why wait for reports on a weekly, monthly, or quarterly basis if you can implement a positive change immediately? If it\u2019s the middle of the month, it can be tempting to wait for the month to end to analyse data, but measuring a month of data from July 1st to August 1 is just as arbitrary as June 25th to July 25th. Waiting until the end of a week, month, or quarter also increases the likelihood you\u2019ll be busy with other tasks.<\/span><\/p>\n

In order to truly be efficient in your reporting, it\u2019s essential to have a reporting solution that utilises real-time data. Real-time data enables real-time adjustments so that your business can improve now instead of at the end of a fiscal quarter.<\/span><\/p>\n

You can use real-time data to:<\/span><\/p>\n