KPIs Staffing & Recruitment Companies Should Track
Key Performance indicators (KPIs) are business metrics which are used to evaluate factors that are crucial to the success of the organization. This article talks about most commonly used metrics and KPI’s which staffing companies needs to track in order to grow their business. Not only we have highlighted the KPIs but also we have enlisted teamwise KPIs. User should have the option to put input parameters like client name, open job/closed job, time duration etc and based on those input selections the data should reflect. All of this data can come from typical ATS (applicant tracking system), excel, CRM and other softwares used by the staffing company.
KPIs for Staffing Firm Management: Below listed are the metrics which can be used by the senior management of staffing firms to understand the day to day operations, understand risks and take appropriate actions etc. These metrics can be according to client wise or time duration or job profile wise etc.
- Time-to-hire and Cost-to-hire
- Team Performance v/s targets
- Job order at risk
- Resumes Sent to the client
- Response Rate
- Candidate outreach Stage
- Candidates Engaged vs Presented vs Hired
- Client wise Job order openings and revenue
- Candidate count Source wise
- Timeline Management
- Sendout per employee
- Newly candidates vs Existing Candidates
- Total cost per project
KPI to be shared with Staffing Firms end Clients: Ideally there are certain metrics which should be shared with the client. This will give the freedom to client to understand the kind of work which happens behind the scene for a single recruitment.
- Retention
- Resume Received by client
- Number of Placements
- Average time per order
- Target benchmark alerting
- Response Rate
- Conversion Rate
- Open Job vs. Closed Job
Sourcing Member: Sourcing members are responsible for scouting and uploading the CVs for relevant profiles. Below are some of the metrics which can help sourcing members to more efficiently do their job
- Total Number of CV uploaded timewise/clientwise/job_profile wise
- No. of fit resumes vs unfit resumes of the total number of CVs uploaded
- Old versus new CVs
- No. of submitted candidates to client and hired
- Target and achieved
Account Managers of Staffing Firms: Account managers are generally responsible for approaching candidates, speaking with them, shortlisting, setting up interview etc.
- No. of follow-up done
- Response and declined rate
- Calls made and appointments scheduled
- Target and achieved
There are a lot of staffing and recruitment companies with very low entry barrier, hence a new vendor can come whenever he wants and can snatch the client. Usage of data analysis platform and sharing the same with their end client can not only make a staffing and recruitment company standout, but sharply monitoring the same can also help in more efficiently and cost affectively running the company.
Get in touch with us to see a data analysis and BI in action. Learn how you can turn your ATS (Applicant Tracking System) data into goldmine.
Reach out to nikhilesh@helicaltech.com
Read the blog http://helicaltech.com/staffing-recruitment-analytics-solution/ to learn about the Staffing & Recruitment Analytics solution by Helical
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