key benchmarks for the recruiting industry - deconstructing the recruiting funnel
TRANSCRIPT
The Recruiting Funnel, DeconstructedDiscover the Key Benchmarks you Need to KnowThursday, November 5, 2015, 10am PT / 12pm CT / 1pm ET
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• Q&A will be at the end of the presentation
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
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
Confidential 66
215+ clients in 21 monthsTransportatio
n
Financial & Business Services
Retail & Consumer HealthcareTechnology
Rachel Bitte●Chief People 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
Unify
Jobvite is the modern recruiting platform.Brand
Brand
Source
Engage
Hire
Hire
Qualify
Video
Bran
d
Jobvite | Brand Jobvite |
VideoJobvite |
Hire
Jobvite | Refer&
Jobvite | Engage
Mobile | Analytics & Reporting | Cloud Platform | Integrations
Jobvite Customer Reach
Jobs Have Changed
The Bureau of Labor and Statistics believe the STEM workforce will total more than 8.65 million workers by 2018
Job Seekers Have Changed
Research shows that Millennial workers will change jobs every 3-4 years
The Recruiting Funnel Needs to ChangeTracking your recruiting
funnel allows you to compare your recruiting health, efficiency and performance.
The Recruiting Funnel Needs to Change• Build better processes
• Identify leaks in the funnel• Find the easy wins• Understand your recruiting,
from top to bottom
Employment Branding
Source: LinkedIn Talent Pulse 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
People remember
a good story
Tenable is a 500 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
Source: Top Recruiting Statistics, 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.
Sourcing
The Recruiting Funnel Benchmarks
24% of passive candidates become actual
applicants
Tracking your applicants as 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
Active versus Passive RecruitingActive • 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
SourcingMeasure the ROI of ALL of your sources and stop sponsoring ones that are under-performing
SourcingMake sure to use a top performing ATS for the smoothest, most efficient apply processes.
Candidate Experience
The Recruiting Funnel Benchmarks
12% of applications
lead to an interview
Why it’s importantIgnoring your 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
Candidate ExperienceThe lengths of your job descriptions and job titles matter.
PollWhat is the average time it takes to complete your own job applications?
Candidate ExperienceLonger applications lead to more drop off.
98% of candidates abandon applications on a mobile device
Source: Appcast, Inc.
Candidate ExperienceMobile compatibility and desktop compatibility matters.
Candidate Selection
80% of employee turnover can be attributed to bad hiring decisions
Source: Harvard Business Review
PollWhat is the average job posting receives how many applicants?
One job posting will have 59 applicants
15% of interviews lead to an offer
The Recruiting Funnel Benchmarks
The Complete Recruiting Funnel
Establish your goals
●More applicants?●Stronger interview candidates?●Higher acceptance rates?
Measure your progress●Establish benchmarks●Use Jobvite data as a starting point
●Identify “leaks” in the funnel
Do your homework
● Complete your own job applications
● Try out your competitors too
Questions