The best predictor of future behavior is past behavior.
Sometimes looking into the very recent past can help you diagnose your organization. Analyzing your most recent wins can give you a great snapshot of what’s going right, and what’s going wrong, with your staffing company.
Take your data from the last 90 days and see if you can find these three key insights from your most recent placements.
1. What has recently been my job order value sweet spot?
Ideally, your staffing team would be winning job orders in the realm of six figures each and every time. Unfortunately the more valuable the job order, the less likely they’re won. Take a look at your recent placements and sort them by values and win rate to see where your sweet spot lies. You might end up with a chart like this:
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Here the sweet spots are the job orders that value between $16k – $20k and $24k – 28k because the win rates are the highest. But you also see a strange drop in win rate for job orders that fall between these two ranges. Are these job orders being worked the wrong way? Do you have a rep specifically in charge of job orders of this value range? Figuring out why this drop exists can directly impact your bottom line.
2. What has recently been the best candidate source?
Looking at your last 90 days of placements and tracing back to where each candidate was sourced is a good exercise to figure out which sources are your best one, today. Since the quality of sources can ebb and flow, your recent conversion rates can pinpoint the ones on a hot streak for your staffing team.
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Compare conversion rates to see if there is a source that may merit more attention. This is a great way to gauge whether sources like Twitter or Facebook are as good for your company as the rumor mills are touting. Conversely, there may be sources that were once churning out great candidates for you, that no longer meets expectations. This exercise can help whittle down to just your best ones.
3. How does your recent performance compare to your average?
At the end of the day, you want to know whether your team is bringing in more or less revenue than before. Taking stock of your won placements after 90 days and trending the total value against previous time periods is essential to gauge whether your team is on the right path to success.[image source_type=”attachment_id” source_value=”38079″ align=”center” width=”567″ height=”272″ quality=”100″]
Did the last 90 days meet revenue goals? Did you exceed the quarter before that? Where does the last 90 days fall in your typical historical revenue range? In the chart above, the actual revenue line did not quite reach the goal set out at the start of the quarter (solid green line). However, revenue was well above both the previous quarter and the average range so you know your business is trending in the right direction.
Analyzing your recent placement history is a great way to calibrate your team and perform a “sanity check” of whether your methods are working or not. Take the time today to look back at your 90 days of wins and see what insights you discover.
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