How can recruiters remain productive in tough hiring markets?

The Great Resignation currently underway in the American workforce might make it seem like a dream market for recruiters. With so many people leaving their jobs in search of better opportunities, there should be a plethora of qualified candidates available for recruiters to match to their clients’ open requisitions. But this mass resignation also means that recruiters might have thousands of applicants for one position, especially in the tech and IT sectors. How can we make sure recruiters stay on track and remain productive as the hiring landscape shifts beneath our feet? How do we measure this productivity to ensure recruiters are operating at the highest level possible with all of the new tools and technology available to them?

What should we look for in recruiter productivity?

In the past, it was easy to measure a recruiter’s success. Post a requisition, review the candidate pool, make a recommendation to clients. And the recruitment cycle would continue. But now, with so much competition, recruiters need to ensure their strategy can meet the demands of the current hiring market. Fortunately, recruiter productivity can be measure similarly to other business processes, just with more specific metrics. Common metrics used to measure recruiter success have included: source of hire, time-to-fill & time-to-hire, candidates per position & rate of qualified candidates, and cost of hire.

Source of Hire

The source of hire metric asks recruiters to consider where their best hires come from. These hires come from the various networks recruiters use to find candidates and are generally broken down into two categories for further analysis: internal candidates (candidates from within your recruiting firm) and external candidates (those a recruiter found from outside sources such as social media or job boards). Analyzing this data allows recruiters to determine to how productive those networks are and adjust their recruitment strategy accordingly. Maybe one platform is populated with excellent clients for a particular industry, while a recruiter hasn’t had any luck finding qualified candidates on the same platform for a different industry. Being able to recognize these patterns to determine where the best hires come from will help recruiters focus energy into the appropriate network for a particular industry.

Time-to-fill & Time-to-hire

These two metrics shouldn’t be taken for granted when gauging recruiter productivity. The time-to-fill metric measures the amount of time between when a job is posted and when a candidate is hired. Time-to-hire is measured as the amount of time when a candidate submits their application and when they accept the position. Not reaching candidates quickly enough can lead to recruiters missing out on top candidates. Clients can lose patience while waiting for their requisitions to be filled because of the burden on their team left by the vacancy.

Resume aggregators, like the one used by AI-powered recruiting platform, Gabi, can be significant time-savers during the hiring process. Recruiters can use tools like Gabi to publish requisitions to multiple job boards simultaneously and view all of the responses in one platform. When the requisition starts receiving applications, Gabi will collate these responses from across all the portals and organize them on a single screen. Recruiters can also track the progress of each requisition to see how fare along a candidate is in the process.

Candidates per position & Rate of qualified candidates

Another metric to gauge recruiter productivity includes determining how many candidates apply to each requisition posted. Recruiters can glean valuable perspective to help improve a job ad by noticing how many candidates apply to that position specifically. Did they receive many more candidates than normal for a particular requisition? Perhaps that indicates that the job description was too vague.

The rate of qualified candidates attracted to each requisition is a crucial metric for recruiters to track. Attracting a high volume of candidates for a job doesn’t do much good unless they’re all well qualified for the position. One of the most innovative features of Gabi is its built-in tool that allows for the ability to schedule and review talent assessments. Recruiters are able to view and share the assessment results directly within Gabi’s platform. Not only is this a significant time saver, but it also helps to ensure the most qualified candidates (with the most highly rated skills and talents) rise to the top of the virtual pile.

Cost of Hire

It’s not unusual for recruiters to feel pressure from their clients to make a quick hire. But recruiters know that not only is a bad hire tough on team morale, but it’s expensive too. The U.S. Department of Labor’s estimate of a bad hiring decision is at least 30 percent of the hire’s first year expected earnings. But to fully understand the cost, it’s helpful to include tangential expenses, like advertising costs, training, background checks, decreased productivity, and recruitment costs. Thinking about the cost of hire in this capacity helps clients understand that sometimes it’s better to wait for the right candidate.

One way that Gabi can help reduce the cost of hire is through its unique Mobile Recruiter feature. Recruiters often work round the clock and can’t be tied to a recruiting platform that exists only on their desktop. With Gabi Mobile Recruiter, the cost of hire can be significantly reduced because recruiters can access candidate data, schedule meetings, make phone calls, and set-up interviews all through the Gabi platform wherever they happen to be. When recruiters can work from anywhere at any time, it’s easy to see how the costs associated with hiring will decrease.

Remember, even after measuring recruiter productivity, challenges still exist. Recruiters need access to the most advanced tools available to get the most out of their recruiting strategy. A fluid, fast, and data-driven strategy can make the hiring process much more enjoyable and profitable for clients, candidates, and recruiters. Contact Gabi today to learn more about how the features of our first-of-its-kind transformative AI-powered recruiting engine can keep you on the cutting-edge of the hiring process for your clients.