There’s no doubt that teams who track recruiting metrics have an advantage over teams who don’t.
By taking a data-driven approach to recruiting, you can analyze the performance of your team, refine your recruiting process, and stay ahead of the curve.
But how should you be tracking and analyzing your recruiting data?
Well, there are tools out there that make your life easier by doing all the hard work for you. (Disclaimer: We provide one. Click here to learn more about it.)
However, if you are not in the market for business intelligence, then you should track your metrics in a spreadsheet in Excel or Google Sheets.
That’s why we created this Recruiting Metrics Template.
What is this Recruiting Metrics Template?
This template is a resource that will allow you to easily keep track of the most important recruiting metrics and KPIs month-over-month.
It includes the following metrics for recruiters:
- Data Quality Score (# of job orders with clean data/total # of job orders)
- Activity Ratios (submissions/sendouts, sendouts/interviews, and interviews/placements)
- % of Placements Goal (actual # of placement/placements goal)
- Placements Per Employee
As well as these metrics for sales teams at staffing firms:
- Data Quality Score
- Activity Ratios (calls/client meetings, client meetings/jobs, and sendouts/placements)
- % of Deals Goal (actual # of deals/deals goal)
- Expected Value of Pipeline (potential value of filling all open job orders/historical win rate)
- Win Rate
We also included staffing industry benchmarks for the following metrics:
- Size of Sales Team (# of employees)
- Job Orders Worked (per firm and per employee)
- Time to Fill
- Win Rate
These benchmarks will allow you compare your team’s current performance to your competitors’ to see how you stack up.
How Should You Use This Recruiting Metrics Template?
If you’re unsure of what certain metrics mean, we suggest reading our free guide on the Top 5 Recruitment KPIs, which is included with your template.
You should use this template to track your recruiting KPIs on a monthly basis. This will allow you to keep tabs on your most important metrics and make sure they’re moving in the right direction.
Start by entering in historical data for previous months. For immediate insights, start with the most recent month, and you’ll see which numbers are increasing or decreasing as you work backwards.
Once you’ve entered your data, it’s time for the fun part. Create charts to visualize trends in your data and dig deeper into your analysis. Share these reports with your team and challenge your co-workers to uncover actionable insights.
If you’re unsure where to start, look at months where you missed your goals and comb through the data to find out why you fell short.
You should regularly add to this spreadsheet at the end of each month to discover where exactly you can improve your team’s performance and move the needle.
Ready to get started? Download the Recruiting Metrics Excel Template today.