Three Steps to Improve Recruitment ROI
Guest Article – Idibu
Do you have a clear handle on your recruitment ROI? It can seem hard to understand and demonstrate the true value of things like job adverts, PPC (Pay Per Click), PFP (Pay for Performance), your website and careers site. But it’s vital you’re clued up on the return you’re getting from the time and money spent on these kinds of activities.
Your ROI is central to enhancing candidate attraction and customer retention – and to boosting the efficiency of your recruitment process. Measuring and monitoring the value of your recruitment tools and resources will provide you with invaluable data so you can budget, plan, and ultimately implement improvements that will save you time and budget.
Yet, despite the obvious benefits of understanding your recruitment ROI, many companies are still unsure on how to gauge what’s working well for them and, of course, what isn’t. There’s a common misconception that tools and processes for calculating and then improving ROI are expensive and time-consuming.
But they don’t have to be…At idibu, we’re great believers in the notion of marginal gains – introducing small, subtle tweaks to the way you work that over time, provide more significant results. The concept lends itself perfectly to recruitment ROI and by using this three-step process, you can start getting to grips with your return on investment today.
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Measure
It’s vital to start by assessing your ROI so you know where you’re currently at and where you’d like to get to.
- Do you know what you’re spending and where?
- Do you have a recruitment marketing strategy and budget – Or are you publishing job ads on an ad hoc basis?
- Are you able to set clear KPIs for things like PPC?
- Do you know the true cost of finding candidates, running interviews, and placing people?
- And finally, are you aware of your reputation as an employer; Do you have a Net Promoter Score? Do you have processes in place for gaining feedback and reviews from staff and candidates?
Measuring your performance against these kinds of parameters is an essential first step in better understanding your ROI.
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Manage
The secret ingredient for managing your return on investment? It’s quality data. But do you know where to start when it comes to accessing the most relevant information for calculating your recruitment ROI?
There are many platforms that offer reporting, or better yet, automated reporting, so you can analyse the data precisely when you need it. This is where step one comes into play. The trick is to identify the metrics most applicable to your organisation’s processes, as well as how and where to find them.
- Multiply
Once you know more about your recruitment ROI, it’s time to improve it.
- Have you highlighted good performance on specific job boards?
- Are there some underperforming platforms?
- Do you need to revise your ad writing approach?
- Are you making the most of support from the platforms you’re using?
Many providers offer account managers who can help strengthen your performance. This third stage is all about understanding where to focus your attention to enhance your recruitment process. It’s about knowing the latest market trends, testing different approaches, and creating innovative ways to increase your ROI.
Find Out More
Want to know more? We’re pleased to be teaming up with Monster to bring you an exclusive webinar:
3 Powerful Steps to Measure, Manage and Multiply Your Recruitment ROI.
Join us on Thursday 24th November at 11am GMT as we take a deeper dive into these three key stages to uncover ways to immediately improve ROI.
idibu’s Senior Manager, Customer Success & Support, Hazel Walker, Monster’s Senior Product Specialist, Pietro Maneti, and guest speaker, Angela Cripps, Managing Director of Recruiting Gym, will share their top tips on:
- Fully understanding what you’re measuring for budgeting and setting clear KPIs
- Getting the most from your tools so they do the work for you
- Immediate changes you can make to start improving your ROI today
If you’re a recruitment director, marketing leader or senior manager who’s keen to maximise your ROI, we’d love to see you there. idibu’s already helping businesses worldwide improve efficiency with our market-leading multi-posting tech. To learn more about what we do, please visit www.idibu.com.