We are happy to introduce new relevant recruitment metrics and KPIs across our dashboard. These new metrics are Cost-per-View, Cost-per-Application, Cost-per-Hire, Time-to-Fill, and Job View Rate.
We are on a mission to empower talent acquisition and recruitment, to be the primary value driver behind company success. This is why we’ve been very busy updating our platform, in order to offer you visibility into the real performance of your online job advertisements, as well as all the costs associated with them. With cost-insights at hand, you will now be able to make meaningful recruitment decisions, while spending your budget more effectively. Moreover, you will provide hiring managers instant feedback on recruiting strategies and show your management and team, how you contribute to the company's success, moving you from the backseat to the steering wheel.
Next time you log in to our platform, you will find the Cost Manager in the left side navigation bar, where you can open up for your cost inputs related to your media deals, headhunter and recruitment agencies' services, which will be tied in to either a specific job position or category (e.g. IT, Marketing, etc.) as well as country.
New Metrics and Tabs:
Based on your input, cost will automatically be allocated across your positions. We then present actionable insights in the newly added tabs categorized by Funnel, KPI and Cost containing the fundamental metrics in a more comprehensive view across your dashboard. To break down the new recruitment metrics, we've listed them below, including a small explanation:
- View rate: The View rate indicates how many views each job opening has received on your career site per day on average.
- Conversion rate: The Conversion rate is calculated by taking the number of your job views and dividing that by the number of applications.
- Cost-per-view:This metric is based on the total of cost divided by the number of job views
- Cost-per-application: To know your Cost-per-Application, you need to take your total spend on a particular job or set of jobs and divide it by the total number of applications received
- Cost-per-hire: The Cost-per-hire is the total cost on a particular job or set of jobs divided by the amount of hires.
- Time-to-fill: The Time-to-fill is calculated by taking the total amount of days it took from the job ad being posted on your career site to when the offer was accepted and registered in your ATS.
How to Get Started:
As trends in the recruitment space progress to data-driven talent acquisition, predictive analytics become a must-have in an increasingly competitive race for talent.
Right now you're probably asking yourself:
How do I get a deeper understanding and when can I get started?
Customer success is our main priority, our Director of Customer Success, Anders Jørgensen, is always ready to support you with advice, training and inputs. Please request more info to get started!