The recruitment industry is changing fast, and recruiters cannot afford to follow the same hiring approach as before. Until a few years back, speed to hire wasn’t really a big deal in the recruitment industry. The focus lay more on the quality of hire. But today, candidates are more selective than ever before. The opportunities are too many, and the talent applying is limited. This is especially true for the relatively senior and more experience-driven roles. Your competitors today, are trying every possible strategy to hire the best talent before you. And it is amidst such fierce competition that the speed to hire becomes a decisive factor.
Now, to ensure speed in recruitment, choosing the right hiring metrics to evaluate your recruitment strategy is a must. This is because evaluating a lot of metrics can slow down hiring process.
Slow recruitment is bound to fail
Recruitment is ineffective and slow if recruiters are unable to figure out the right hiring metrics. In fact, as a thumb rule, the wrong hiring metrics can never lead to the right results. This is because talent insights carve a recruitment strategy and accurate insights come from the right metrics alone. Double, and sometimes more than double, the amount of effort and resources are spent when a recruiter has to rebuild his strategy from scratch. A lot of hit and trial is involved if the relevant metrics aren’t focused when planning a recruitment cycle. Now hit and trial strategies lack precision, and above all, they lack speed.
Hiring metrics that speed up recruitment
While there are more than a dozen hiring metrics to choose from, not all of them can speed up your recruitment. Recruitment platforms like Talismatic offer a helping hand by showcasing metrics most pertinent to your recruitment goals. Talismatic offers the creamiest layer of metrics to speed up your recruitment, such as:
- Job closing time,
- Hiring potential, and
- Competitor benchmarking
Here’s how these metrics can accelerate your recruitment drive:
- Talismatic’s job closing time metric can inform recruiters about the average time spent in their industry to close a vacancy. A recruiter can then backward plan or put-in-check his hiring plan to ensure he’s not taking any longer in closing a job. Besides, with a benchmark of this sort, a recruiter can keep candidates in the pipeline. Timely insights on job closing time help avoid the last-minute recruitment crisis.
- Do you spend too much time and resources in finding the right location to hire? Is this slowing your work down? Talismatic’s hiring potential feature helps a recruiter know the ease of hiring across the US, with labels like ‘easy,’ ‘moderate,’ and ‘difficult.’ You, therefore, know what cities to focus on!
- Today, knowing a competitor’s strategy is as important as your own; sometimes even more. You need a strategy that’s ready to face the competitor’s move even before it’s made. With Talismatic’s competitor benchmarking feature you can turn competitors into knowledge bases. So, no need to waste time guessing.
The ‘need for speed’ is inevitable. To strike that perfect balance between speed and quality, pay attention to your hiring metrics. And to have access to the right hiring metrics on an intuitive dashboard, use Talimsatic.