…ideas from Jeffery Giesener – SourceMob.com – CEO
Last week we visited several prospective clients and we asked each one a very simple question.
How many Candidates come to your Career pages and then Apply through your Applicant Tracking System (ATS)? The answers we got were not a surprise to us, but provide clarity to our findings and why we will reiterate the responses here.
Two prospective large clients said, I don’t know the number. I should know, but I just don’t know.
Numbers three and four prospects, who are each large companies, said we don’t have any analytics onboard to know this number.
Number five prospective large client said, “Oh… we have this information in Marketing and I can get it from them.” I then asked a follow up, “When was the last time you got this information from Marketing?” He said he didn’t know but it was a while ago.
And number four said he had 4,250 people come to their career website page last month and they had 900 Applies last month. It was great that he had this information top of mine. He at least beat out the other four prospects surveyed and knew some of his data and insights.
So where do you fit above?
Analytics and Insights are the future GOLDEN GOOSE of Talent Acquisition and if you are not being challenged by your CFO to lower your Cost Per Hire, it’s almost a certainty you will be in the next year or so.
Let’s take a further look at the prospective client number four who knew immediately what their Career Site traffic and Apply rates were. Although as I said above, it was great that he know what he knew, from my seat it is more important to understand what the data is telling you.
Number four spent $7,500 in advertising in the month to get 4,250 unique Candidate visits to its Career Center or $1.76 per visitor or $8.33 per Apply. Are these good numbers? They didn’t know because they have never tied it back to any similar data from their past. They also unfortunately don’t know how any of their various job candidate campaigns are doing and or how to comparatively judge their performance. Campaigns they are running such as LinkedIn Ads, Indeed Ads, Career Builder Ads, Monster ads, Pay Per Click and other programs, are not all being tracked into an Apply rate comparison.
Image if they did know what is working and what is not? Imagine how they would be able to manage their Cost Per Hire! For starters they would simply cut out the campaigns, which are not working and add more of the campaigns that are working. The result: lower Cost Per Hire.
Drilling deeper into the numbers this prospect had 4,250 monthly unique career visits and they got 900 Applies. Sound good. Well maybe yes or NOT! This is a defection rate of 1- (900/4,250) or 79% … Ouch. So do you know your defection rate? This gets worse if you factor in the additional the defection rate inside of your ATS funnel. And it will get worse if you are of the belief that Social Recruiting is not coming to your Talent Acquisition doorstep.
The first thing you need to have in place within your Talent Acquisition space is a really good On-Demand Analytics and Insights platform that not only tracks your Career traffic, but also provides Data Insights like the above for your Social Career sites and Campaign Management. Remember Google Analytics is not a social analytics system. It is great for eCommerce, but not for tracking the social graph.
So what happened after our clients hooked up SourceMob’s Social Analytics and Insights to their Website and Social Career Sites?
First: they immediately wanted to know who are the people on their sites.
Second: how do they engage with Candidates and provide a level of conversation that keeps these Candidates connected to the recruiters?
Third: how do they bring these Candidates into a Talent Community?
Four: how to develop on and offline campaigns that enable your organization to stay in front of these top Candidates. Then when another job is sourced you have a ready pool of Candidates one click away?
Five: how to get these qualified Candidates into conversations and into Applies which lower Cost Per Hire?
SourceMob can help lower your Cost Per Hire!
SourceMob Candidate Direct: We build your Social Career pages on Facebook, Twitter, Google+ and Mobile, where your jobs and conversations go directly to your Candidates’ Personal Facebook Page, both privately and anonymously.
SourcePools Conversations and Talent Community: Now candidates can connect with your Recruiters directly. The result is your Recruiters can engage the best and brightest talent and then escort them directly into an Apply instantly.
You can also see what Sourcemob.com is doing in Mobile Recruiting by typing mobile.toro.socialsourcingnetwork.com into the browser of your mobile smartphone or Tablet device. Candidates then view the jobs of their choice “on the go.”-
And all of our Social Recruiting components come with our Social Analytics and Insights platform.
I would welcome the opportunity to personally show you how SourceMob can net Passive and Active Candidates in some of the toughest recruiting areas (IT, Nursing, R&D, etc.) by helping you to reduce paying recruiting commissions. Let’s schedule a virtual appointment at your convenience. Simply reach me by email at firstname.lastname@example.org or by phone at 612-349-2740.