What are the most important metrics and reports to track in your ATS?

Key metrics and reports to track in your ATS include time-to-fill, which measures the duration from job posting to hiring; cost-per-hire, which calculates the total expense involved in recruiting a new employee; and source of hire, identifying which channels produce the best candidates. Also, track candidate quality metrics, such as retention rates and performance outcomes, to assess the effectiveness of your hiring process. Regularly reviewing these metrics helps optimize recruitment strategies and improve overall hiring efficiency.

Each business is unique but by and large a few metrics are the gold standard. 1) Time to Shortlist/ Interview / Hire - Knowing how long it takes to get candidates to each of these 3 stages is critical to understanding the gaps and bottlenecks in your process 2) Connected conversations per day: Recruitment is a KPI game, It is important to track how many unique phone conversations each of your reps is participating in each day. This will help you compare effort with outcomes across your team 3) Interview to Offer Ratio by client: Some hiring managers are a lot choosier than others, It's important to figure out where your efforts yield lower or higher results and double down.

In the fast-paced service industry, where every day without a staff member can mean lost revenue, tracking the 'Time to Hire' metric is crucial. It's not just about filling positions quickly, but also about ensuring a quality fit. This is where platforms like HeyHire shine, offering a streamlined process that significantly reduces the time-to-hire, often to just 2 days. By focusing on local hiring, HeyHire connects employers with potential employees in their community, fostering a quicker and more efficient hiring process. This approach not only saves time but also builds a stronger, more connected workforce, crucial for businesses in the hospitality and service sectors.

Time is a COST. Taking to much time costs you: -Candidates: A lot will leave the process. -Money: You will work more hours to get the same job done. And that's money. -Effort: You will have top give more steps, and put more energy. So, time to Hire is the #1 metric to measure.

Making "a hire" or Making "the right hire" are 2 very different things. Depending on the industry, we are looking at an average of 30-60 days to fill an open role. How can recruiters make sure we are using our time best? A: Strong pipeline of candidates, always be recruiting, growing/expanding your network, talking to people, campaign emails to candidates that could be a strong fit, etc. B: Stay in contact with your "silver medalist's" candidates- may have been a 1a, 1b situation, but that next req can open anytime and that 1b can slot can have an offer in hand in under a week. C. Ask your hiring manager for their network or who they would recommend (can certainly expand on this) D. Be visible in the space; trade shows, events, etc.

Quality of hire measures new hires' performance and contribution based on retention, productivity, performance, and fit. This reflects hiring effectiveness and alignment with business goals. Higher quality hires boost engagement, retention, satisfaction, and overall performance. To enhance quality of hire: -- We need to use ATS to define and track role-specific KPIs. One of the ways, utilize the ATS to continuously track and record new hires' performance against the established KPIs. Then Schedule periodic performance reviews within the ATS to update and evaluate KPI progress. Collect and analyze feedback on new hires from managers, peers, and customers.

Quality of hire is crucial, especially in service industries. Hiring local often means a natural fit with the community, leading to better customer engagement and stronger team dynamics. It's about finding those who resonate with your business ethos, enhancing the overall vibe. Shorter hiring times and a more cohesive team? That's the sweet spot we aim for.

Quality of hire DOESN'T exist as a single metric. Actually, it's a concept, made of the three metrics (that you have to measure): - Internal fit: How happy the candidate is with his role. - Performance assessment, made by the candidate manager. - Potential assessment: It measures if the candidate has the longterm potential to lead others.

Your quality of hire is a reflection of your entire hiring process. Are you able to get the top candidates to the end of the process? This should be the top priority because it also speaks to your credibility as a recruiter.

Quality of hire is a very important stat. This crucial stat measures turnover rate, performanc and overall fit. As a recruiter, this stat tells me if I am getting it right or not. It has always been a good measure as to whether or not I am in lock step with my hiring managers and the needs of the organization. Moreover, this is the stat that I've personally used to measure the quality of my work.

For ATS, we need to check and analyse the application process is easy and simpler for the candidates at the first place. It should not like a lengthy and tedious process where they need to add the resume then again fill each and every detail manually which can be automatically taken from the resume. A positive candidate experience can boost application rates, referrals, and acceptance rates while reducing drop-off rates and negative reviews. ATS needs to be user-friendly, mobile friendly apps forms which makes candidates experience better and connected.

A balanced approach is key in the candidate experience. It's about streamlining the process while ensuring candidates are genuinely interested. A smooth journey is essential, but it's equally important to maintain a level of engagement that filters out casual applicants. This balance ensures that those who apply are truly invested in the opportunity, leading to more meaningful connections and potential hires.

Candidate Experience: This metric is often overlooked, but it's a powerful indicator of your employer brand and can significantly impact your ability to attract top talent. A positive candidate experience can lead to more referrals, a higher acceptance rate, and a stronger reputation in the job market.

Nowadays while everything is transparent on social media and internet, candidate experience and employer's branding would really take a huge part on candidate's decision. Some hiring managers/ companies still keep a traditional way of thinking hiring is all about the company choosing the right candidate but they forgot about it's also a process for the candidate to choose the suitable company for them to work for. It's always impressive to include a interview feedback form on ATS to keep track of the overall interview experience from candidates so that we can keep improving no matter on the process, arrangement and provide relevant feedback and training for our recruiters and hiring managers.

The rule here is MAKE IT SIMPLE. Fort get all the questions and focus only in two: 1- From 1 to 5, how do you evaluate your experience? 2- What would you change from the process?

The BIGGEST cost is the indirect cost... but almost everyone forgets them. There are two costs: 1) Direct ones: Search publication fees, perks, etc. 90% of people only consider this type of costs. 2) INDIRECT ones: Legal and Compliance Costs, hours worked by the HR team. Analyze BOTH, or you will have an incomplete metric.

The cost per hire is often hire when you start using a applicant tracking system because you have to attract candidates from other sources to join your talent pool. But once you build great talent pools, the cost per hire reduces as you already have direct access to qualified candidates for future jobs.

Cost per hire, encompassing internal and external expenses, measures the total investment in securing a new employee. In my personal opinion, this KPi is one of the most important and we should measure it and try to improve it this different techniques. For example, Online recruitment campaigns are helping me to reduce the cost per hire with some clients.

On Cost per Hire, I would like to highlight one HIDDEN aspect of the indirect cost of hire - offer rejection due to financial terms. I have seen companies not willing to offer candidates attractive salary terms in the hope of securing them at a lower number. This has happened in the range of a couple of hundred dollars or even fifty dollars. Because of this the candidate declines the offer and the recruiter has to restart the search again if there are no backup candidates this will indirectly add to the cost of hire in several ways. The need to engage recruitment agencies, the need to post more job ads. the time it takes to relook at the talent pool, the time it takes for all interviewers to interview more candidates.

Tracking cost per hire in your ATS is crucial for optimizing hiring expenses. Think of it as a GPS for your budget. By analyzing where your best candidates come from, you can zero in on the most effective sources and channels. This not only cuts costs but also boosts your hiring ROI. It's like finding a hidden shortcut that saves time and money. Use your ATS to tap into your talent pool, leverage employee referrals, and automate tasks. This approach doesn't just trim expenses; it enhances your hiring efficiency, making your process smoother and more accountable.

If your organization does not have diversity and inclusion metrics it will very difficult to promote it as an organizational goal. Measuring the outcomes of your DEI efforts is essential to understanding where you are at as an organization and where you need to go. DEI metrics is also a way to ensure transparency and accountability for all stakeholders. You can also use your ATS to track DEI metrics for individual recruiters, recruiting teams and among departments within your organization. Finally, your ATS is a crucial tool to advertise jobs in areas that can reach diverse applicants.

To promote diversity and inclusion, there are several ways you can optimize your Applicant Tracking System (ATS). 1. Ensure you track the sources of your applicants and consistently attract candidates from various channels, not just your careers page. Casting a wide net is crucial for fostering a diverse team. 2. Collect and analyze data on the progression of candidates throughout the hiring process. By understanding which candidates rarely receive interview opportunities, you can draw valuable insights and make informed decisions. Emphasizing these strategies will help you create an inclusive and equitable recruitment process.

A few useful HR metrics to track: 📊 eNPS Retention Promotions Source of hire TTF (Time To Fill) Candidates per hire CPH (Cost Per Hire) Interview to offer ratio Representation/Diversity Attrition (regretted vs non regretted) “Data is a precious thing and will last longer than the systems themselves.” Tim Berners-Lee, inventor of the World Wide Web. 🕸️

Measuring diversity is difficult, here's how to simplify it: 1. Analyze your top 3 diversity challenges. For instance, women's equality, LGBTQ+ inclusion, and representation of people with disabilities in top management. 2. Transform these challenges into METRICS: Translate each of these three challenges into MEASURABLE DATA. 3. Develop a step-by-step plan to enhance performance in these three metrics.

Tracking diversity and inclusion in your ATS isn’t just about numbers; it’s about shaping a culture where everyone thrives. Think of it as curating a diverse playlist—each track adds a unique flavor that enriches the overall experience. Regularly review your data to ensure your hiring practices are truly inclusive and adjust as needed. Implement features like blind recruitment and diverse hiring panels to avoid bias. Reporting on this helps you not only to meet goals but to genuinely enhance your team's creativity and reach. It's about creating a workspace where diversity isn't just represented but celebrated.

I'm a big fan of tracking "time per stage" of the hiring process. This usually reveals the lowest hanging fruit for improving your speed to hire as you'll see where your bottlenecks are. Uncover the stages that candidates are "stuck" in for the longest period of time and optimize that step in your hiring process. Easiest way to start shaving days off your timeline.

Broader Hiring Metrics: Time to fill % of roles filled externally vs internally Offer-to-accept ratio Diversity metric Cost per hire Quality of hire Recruiting Metrics: # InMails/wk # Phone Screens/wk # Submittals/wk

In my experience, there are several other key areas of the ATS that are insightful. One idea is to prioritize tracking the source of all your hires. This metric unveils the most effective recruitment channels, helping you invest resources wisely. Monitoring "Offer Acceptance Rates" is crucial for evaluating the attractiveness of your job offers and making necessary adjustments. Lastly, focus on "Hiring Manager Satisfaction" to gauge internal stakeholders' contentment with the recruitment process, fostering collaboration and effectiveness. These metrics collectively contribute to a more strategic and refined hiring strategy.

One of the biggest things that I look at is time in process (from application to hire) and time in stage. The time that it takes to move through a process is something that I can control, which is one of the main things that I look for in a KPI.

Try to include a tracking of Hobbies. People loves to talk about their Hobbies and it takes the pressure off the interview and helps them to relax and be themselves so you can get a more authentic interview.