With nearly 89% of home care agencies turning away hours due to lack of staff, nearly every company is tired of losing out on quality hires. That being said, some companies are making more hires than others.
This webinar recap offers insight into what to measure, when, and how. It’s a summary of a webinar that was presented by Maggie Keen, VP, MissionCare Collective, and Natalie Morgan, Senior Director of People, CareerPlug, a leading applicant tracking system.
You can view the full webinar here.
Things to measure when scaling recruitment:
This measures the number of interviews to the offers. The higher the number, the higher quality the interviews and candidates tend to be.
The ratio of offers accepted to the number of offers made. A lower rate might suggest that something is off with your compensation, benefits, or company reputation.
This measures the number of applicants that make it to the interview. The higher the number, the more relevant the applicants.
This measures the average time it takes to hire a candidate from the moment the job is posted to the time the candidate accepts the offer. A shorter TTH can indicate a more efficient hiring process.
Tracks where your candidates are coming from, whether it's job boards, referrals, career fairs, etc. This helps in understanding which channels are the most effective.
The total cost associated with the hiring process divided by the number of hires in a given period. This includes advertising costs, recruiter salaries, interview costs, and any other related expenses.
NOTE: When comparing cost per hire at scale, it’s important to compare your paid channels against one another separately from paid to free or paid to referral channels to get an apples-to-apples comparison on ROI and scale (e.g. you may only be able to generate a small number of free or referral hires).
Getting a candidate to their first shift! Preface: this is NOT tied to recruitment source, but is tied to recruitment speed, experience, and competitiveness.
There was a lot more covered in the webinar! To hear the complete session where Natalie discusses the candidate experience and tips to stay ahead of the competition, download the replay here.
Here’s a question we’re getting a lot: Why does hiring in higher volumes increase the overall cost per hire?
We can shed light on this for small to growing companies. Simply schedule a consultation.
