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Key Benchmarks for the Recruiting Industry - Deconstructing the Recruiting Funnel
The document discusses the importance of understanding and optimizing the recruiting funnel in light of changing job seeker behaviors and expectations. It emphasizes the need for active and passive recruiting strategies, the impact of employment branding, and the significance of tracking applicant sources to improve candidate quality. Key metrics, such as the relationship between application length and drop-off rates, are also highlighted to enhance the overall candidate experience.
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Key Benchmarks for the Recruiting Industry - Deconstructing the Recruiting Funnel
- 1. The Recruiting Funnel, Deconstructed Discoverthe Key Benchmarks you Need to Know Thursday, November 5, 2015, 10am PT / 12pm CT / 1pm ET
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- 3. Webinar Tips forAttendees • All lines will be muted to avoid background noise. • Type questions into the Chat box at the bottom of the ReadyTalk panel. • Q&A will be at the end of the presentation
- 4. Chris Forman ● Founder& CEO, Appcast ● 20 years building recruiting technology o AIRS, The RightThing, Startwire, and Appcast ● Spoken at 200+ industry events and conferences ● Part of the team that has won the HR Tech ‘Product of the Year’ on three different occasions
- 5. Introducing Appcast: ‘Pay-Per-Applicant’Job Ads ● Only sponsor jobs that need applicants ● ‘Pay-per-applicant,’ not per click or posting ● 60M+ job seekers from 6,000+ sites ● Proven candidate quality ● Active & passive candidates ● No fees or long-term contracts
- 6. Confidential 66 215+ clientsin 21 months Transportation Financial & Business Services Retail & Consumer HealthcareTechnology
- 7. Rachel Bitte ● ChiefPeople Officer at Jobvite ● Over 18 years of experience in HR leadership ● Career predominantly in tech industry – with a focus on change leadership & talent management ● Started career as Recruiter at both Apple & Intuit
- 8. Unify Jobvite is themodern recruiting platform. Brand Brand Source Engage Hire Hire Qualify Video Bran d Jobvite | Brand Jobvite | Video Jobvite | Hire Jobvite | Refer & Jobvite | Engage Mobile | Analytics & Reporting | Cloud Platform | Integrations
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- 10. Jobs Have Changed The Bureauof Labor and Statistics believe the STEM workforce will total more than 8.65 million workers by 2018
- 11. Job Seekers Have Changed Researchshows that Millennial workers will change jobs every 3-4 years
- 12. The Recruiting Funnel Needs toChange Tracking your recruiting funnel allows you to compare your recruiting health, efficiency and performance.
- 13. The Recruiting Funnel Needs toChange • Build better processes • Identify leaks in the funnel • Find the easy wins • Understand your recruiting, from top to bottom
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- 15. Source: LinkedIn TalentPulse Report, 2014 56% said employment branding was the #1 factor in considering a new job surpassing a great product, great people, or a prestigious reputation
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- 17. Tenable is a500 person security company in Columbia, MD. 744 career site visits in their social media campaign’s first 24 hours Increased career site visits from 3,600/month to 40,000+/month
- 18. Source: Top RecruitingStatistics, http://blog.capterra.com/top-15-recruiting-statistics-2014/ Employers who used social media to hire found a 49% improvement in candidate quality over candidates sourced only through traditional recruiting channels.
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- 20. The Recruiting FunnelBenchmarks 24% of passive candidates become actual applicants
- 21. Tracking your applicantsas candidates • A CRM compliments your ATS – Tracking your applicants before they apply to a specific posting – Millennials hold 15-20 jobs in their lifetime, so it’s important to track them, as they progress in their career
- 22. Active versus PassiveRecruiting Active • Posting open jobs on your career site or social media • Creating content targeted to people who already know your brand or follow your social pages Passive • Enabling your employees to manage their referrals • Engaging past candidates who almost made the cut
- 23. Sourcing Measure the ROIof ALL of your sources and stop sponsoring ones that are under-performing
- 24. Sourcing Make sure touse a top performing ATS for the smoothest, most efficient apply processes.
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- 26. The Recruiting FunnelBenchmarks 12% of applications lead to an interview
- 27. Why it’s important Ignoringyour company’s online presence hurts your employment brand more than you realize. 78% of job seekers say that employee ratings and reviews are influential when deciding where to work 41% of job seekers believe employees are the most credible source of information regarding a business
- 28. Candidate Experience The lengthsof your job descriptions and job titles matter.
- 29. Poll What is theaverage time it takes to complete your own job applications?
- 30. Candidate Experience Longer applicationslead to more drop off.
- 31. 98% of candidatesabandon applications on a mobile device Source: Appcast, Inc.
- 32. Candidate Experience Mobile compatibilityand desktop compatibility matters.
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- 34. 80% of employeeturnover can be attributed to bad hiring decisions Source: Harvard Business Review
- 35. Poll What is theaverage job posting receives how many applicants?
- 36. One job postingwill have 59 applicants
- 37. 15% of interviews leadto an offer The Recruiting Funnel Benchmarks
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- 42. Establish your goals ●More applicants? ● Stronger interview candidates? ● Higher acceptance rates?
- 43. Measure your progress ●Establish benchmarks ● Use Jobvite data as a starting point ● Identify “leaks” in the funnel
- 44. Do your homework ●Complete your own job applications ● Try out your competitors too
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