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The Truth BeneathYour Recruiting Metrics

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Here at InsightSquared, the sales team talks to a lot of staffing & recruiting firms. We hear from the leaders of firms of every shape and size, from boutique executive search firms to multinational recruitment firms, yet the same conversation comes up over and over again.

We’ll get on the phone with the CEO, and she’ll say, “My recruiters are hitting their activity goals, we’re doing everything we need to be doing on paper, yet I’m not seeing the results I want. What am I missing?”

What follows is a long conversation about the value of recruiting metrics – and an even longer conversation about why the metrics most firms currently track only scratch the surface of their recruiting performance.

There’s no question that activity metrics are a cornerstone of recruiting management. However, the mistake that firms make is thinking they can rely on these metrics in isolation to both measure how well they are performing in the present and predict how well they will do in the future. The unfortunate truth is that these firms make a lot of decisions with only a fraction of the data they really need.

So what else should you be looking at? How can you be sure that you are seeing the big picture and not missing vital warning signs that will help steer your firm away from danger? In short, how do you go beyond activity metrics to find the whole story behind you recruiting firm’s performance?

Before you can answer that question, you have to understand what you’re missing if you only look at activity metrics in isolation. We’ll help you step beyond basic metrics, lift the hood of your recruiting firm, and develop a playbook for improvement from your findings.

The three questions we’ll help you answer are:

• Do Your Recruiters Spend Time Efficiently?• Are You Working the Right Job Orders?• Is Your Recruiting Process Effective?

Read on to learn what problems you might be missing by not digging below the surface of your data, and more importantly, learn how you can eliminate them before they ever impact your bottom line.

Contents Introduction

Contents Introduction

Introduction 3Does Your Team Work Efficiently? 4

Summary 5What You Do Now - Activity Metrics 6Digging Deeper - Activity Ratios 7Digging Deeper - Candidate Sources 8Digging Deeper - Win Factors 9

Are You Working the Right Job Orders? 10Summary 11What You Do Now - Job Order Pipeline 12Digging Deeper - Job Orders by Stage 13Digging Deeper - Lifetime Value 14Digging Deeper - Client Efficiency 15

Is Your Recruiting Process Effective? 16Summary 17What You Do Now - Bookings 18Digging Deeper - Active Placements 19Digging Deeper - Placement Funnel 20Digging Deeper - Candidate Funnel 21

Conclusion 22

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Recruiters have to put a premium on the time they invest on candidates and job orders. The effort spent making a placement has an opportunity cost – it’s time they could have spent working other job orders or finding candidates.

Most firms rely on daily activity metrics to ensure that recruiters are doing the work they need to do to be successful. This approach is akin to a doctor just taking a pulse to make a diagnosis. She might know that something strange is going on, but she’ll have no idea why it’s happening.

This section shows you how to get beyond pulse-taking to get to the “why” behind your firm’s production results. Here are three ways to get to the full diagnosis for how efficiently your recruiters are spending their time:

• Activity Ratios• Candidate Source Analysis• Won/Loss Analysis

Does Your Team Work Efficiently?

Section / / 1

Does Your Team Work Efficiently?

Summary

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What it Shows You: Activity ratios are the direct measurement of the volume of activity your recruiters need to spend to move a job order from one stage of your recruiting process to the next. Why They’re Useful: Activity ratios are a very effective way to see at a glance how efficient recruiters are being with their activity. This metric is the best way to understand what volume of work will move the needle on job orders. The two most impactful use cases for activity ratios are:

Coaching - By comparing the ratios of your top-performing recruiters with the rest of the team, it’s possible for each recruiter to pinpoint her strengths and weaknesses, and set very targeted goals to drive improvement. Managers should use that information to support their team with training and tools to address negative performance trends. Structuring the Recruiting Process - Ratios allow recruiters to model their approach to recruiting around their most successful teammates. This ensures every team member follows the steps that will have the most impact on your firm’s bottom line.

Does Your Team Work Efficiently? Does Your Team Work Efficiently?

What You Do Now - Activity Metrics Digging Deeper - Activity Ratios

When recruiters think “metrics,” they’re thinking of activity metrics – number of calls made, number of emails sent, number of sendouts, etc. These metrics are the backbone of any data-driven recruiting team, but they’re also inherently limited.

Activity metrics are great for keeping a finger on the pulse of your recruiting firm, but they don’t provide any information about how things got to their current state, and they don’t offer much information that helps you correct course and improve performance.

Why it’s not enough: Activity metrics show you how well you’re doing on a volume basis, but they don’t provide any indication of whether you are spending your calories in the right places.

What you’re missing: If you rely on activity metrics in isolation, you’ll end up in a very frustrating position – you’ll see that your performance needs to improve, but you won’t be able to diagnose why your team is struggling, and you won’t know how to help them.

To figure out those two pieces of the puzzle, you have to take your analysis three steps further.

What is the efficiency of our recent activity? Activity ratios using activity date

06/01/2014 - 06/12/2015

Date Starting Dial : Job Order Job Order : Place Internal Submission : Job Order Internal Submission : Sendout Sendout : 1st Int 1st Int : Place

01 Jun 2015 6.6 3.6 3.2 1.1 2.8 3.6

01 May 2015 8.4 1.9 5.8 1.2 1.9 5.2

01 Apr 2015 14.6 2.7 7.5 1.2 1.5 10.7

01 Mar 2015 9.0 3.2 5.1 1.2 1.8 7.3

01 Feb 2015 18.3 1.5 6.2 1.5 1.9 3.2

01 Jan 2015 14.6 3.0 7.5 1.2 2.3 8.3

01 Dec 2014 7.8 5.3 4.3 1.2 2.6 7.6

01 Nov 2014 5.7 4.1 4.3 1.3 1.9 7.6

01 Oct 2014 13.5 3.8 5.0 1.4 1.8 7.8

01 Sep 2014 12.2 6.4 4.7 1.4 2.0 10.2

01 Aug 2014 16.6 3.6 6.0 1.7 2.0 6.1

01 Jul 2014 12.0 4.3 4.3 1.7 1.7 6.3

01 Jun 2014 14.8 4.3 6.0 1.3 1.8 10.6

Overall 11.2 3.4 5.2 1.3 2.0 7.0

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Jul 2014 Aug 2014 Sep 2014 Oct 2014 Nov 2014 Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015

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Activity Date

Dial : Job OrderJob Order : PlaceInternal Submission : Job OrderInternal Submission : SendoutSendout : 1st Int1st Int : Place

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https://clients.insightsquared.com/reports/activity_ratios/?comp...

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What it shows you: This metric is calculated by dividing the total number of placements your firm has made by the total number of job orders you’ve worked, and segmenting by a third factor, such as job order value. This provides a high level view of what types of job orders your recruiting team is most likely to make placements on.

Why it’s useful: Win factors enable you to determine whether your recruiters are pursuing the job opportunities that they have the highest likelihood of closing. This type of analysis yields a lot of actionable information if you segment job orders by a third variable such as industry or job type.

Knowing which types of job orders you’ve won most consistently in the past helps your recruiters organize their time to focus on job orders that they have the highest probability of winning, and avoid investing too much of their time securing job orders that aren’t likely to result in placements.

Does Your Team Work Efficiently? Does Your Team Work Efficiently?

Digging Deeper - Candidate Sources Digging Deeper - Win Factors

What it shows you: Candidate source analysis provides an objective, numerical assessment of the quality of candidates that come from each source. This analysis shows you how well candidates from each source have historically progressed through your placement process.

Why It’s useful: Understanding where your candidates are coming from is an essential complement to your activity metrics. The information you gain from candidate source analysis provides another lens that helps establish where problems arise within your recruiting process.

By looking at the number of candidates you get from each source, you can pinpoint which ones are worth using, and which ones you can stop using. If you take a step further and look to see what percentage of candidates from each source get placed with your clients, you also hone your recruiters’ efficiency by enabling them to focus more time on sources that yield higher quality candidates.

What is our best source of candidates?9,326 total, based on date added

03/14/2015 - 06/12/2015

Source Candidates Total Placements Placed Candidates Conversion Rate Placement Value Avg Candidate Value

monster #47 518 9 6 1.2% $108,706 $210

web app #122 1,627 6 6 0.4% $83,960 $52

indeed #104 3,420 5 5 0.1% $85,400 $25

job board #109 881 4 4 0.5% $52,740 $60

indeed #64 98 3 3 3.1% $91,368 $932

indeed #14 590 2 2 0.3% $54,336 $92

web app #107 590 2 2 0.3% $57,169 $97

web app #36 200 2 2 1.0% $48,000 $240

referal #76 14 0 0 0% $0 $0

referal #39 9 0 0 0% $0 $0

linkedin #119 1 0 0 0% $0 $0

referal #14 1 0 0 0% $0 $0

linkedin #85 1 0 0 0% $0 $0

linkedin #68 16 0 0 0% $0 $0

job board #112 1 0 0 0% $0 $0

monster #46 1 0 0 0% $0 $0

linkedin #104 2 0 0 0% $0 $0

dice #7 1 0 0 0% $0 $0

linkedin #38 1 0 0 0% $0 $0

referal #124 80 0 0 0% $0 $0

linkedin #117 1 0 0 0% $0 $0

monster #58 2 0 0 0% $0 $0

referal #52 1 0 0 0% $0 $0

dice #86 1 0 0 0% $0 $0

job board #61 40 0 0 0% $0 $0

indeed #39 4 0 0 0% $0 $0

web app #66 15 0 0 0% $0 $0

dice #13 147 0 0 0% $0 $0

linkedin #63 1 0 0 0% $0 $0

dice #122 1 0 0 0% $0 $0

Overall 9,326 33 30 0.3% $581,679 $62

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0% 0.25% 0.5% 0.75% 1% 1.25% 2% 2.25% 2.5% 2.75% 3% 3.25%

monster #47

web app #122

indeed #104

job board #109

indeed #64

indeed #14

web app #107

web app #36

Number of Placed Candidates

Conversion Rate

Conversion RatePlaced Candidates

1.5% 1.75%

What is our best source of candidates? | InsightSquared https://clients.insightsquared.com/reports/cand_source/by_quali...

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Win Factors › By Value

How does job order value correlate with our win rate?

31% win rate for closed job orders less than $15,000 created in the previous 12months

06/01/2014 - 06/12/2015

Job Order Value Range Win Rate Closed Job Orders Wins Losses Open Job Orders

Less than $15,000 31% 195 61 134 49

$15,000 to $19,125 26% 222 57 165 22

$19,125 to $24,000 18% 192 34 158 23

$24,000 to $30,480 26% 243 62 181 30

$30,480+ 20% 191 39 152 53

Average 24% 1,043 253 790 177

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Win

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Job Order Value RangeLess than $15,000 $15,000 to $19,125 $19,125 to $24,000 $24,000 to $30,480 $30,480+

How does job order value correlate with our win rate? | Insight... https://clients.insightsquared.com/reports/opp_win_factors/?co...

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It’s not hard to get a count of how many job orders your recruiters are working, or to visualize the state of your job order pipeline. Sadly, the same cannot be said for figuring out which of those job orders are worth your time.

Recruiting firms run into trouble when they treat all job orders equally. Sure, it’s better to make higher value placements, but at what point are you expending too much effort on a placement for it to be worthwhile? How far along have each of the job orders in your pipeline progressed? How can you tell which ones are real, and which ones need to be cleared out?

To find out, you have to go beyond volume and consider quality of pipeline as well. Otherwise, you risk assuming that you have enough job orders lined up to easily hit your revenue goals, only to have the majority of them drop out at the last minute. These are the ways to slice your pipeline to ensure that doesn’t happen.

• Job Orders by Stage• Job Order Value• Client Efficiency

Are You Working the Right Job Orders?

Section / / 2

Are You Working the Right Job Orders?

Summary

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What it shows you: Segmenting your job order pipeline by the stage each job order falls into is the first step toward assessing pipeline quality. This information helps you understand how many open job orders are still far from completion (still waiting on internal screening, for example) and how many are nearly closed (in the final rounds of interviews with clients, etc.).

Why it’s useful: Knowing how ripe the open job orders are in your pipeline helps you to set realistic expectations. Without visibility into the quality of your team’s pipeline, you might fall into the trap of assuming that your recruiting activity is progressing smoothly, when in reality all of your firm’s open job orders are another month away from being completed.

As a manager, you have to be able to catch that type of problem early on so that you can take action, implement training or tools, and make sure that there’s always enough late stage pipeline to maintain a steady revenue stream. Understanding this difference helps you determine where your team needs to turn the crank.

Are You Working the Right Job Orders? Are You Working the Right Job Orders?

What You Do Now - Job Order Pipeline Digging Deeper - Job Orders by Stage

What it tells you: How many open job orders your recruiters are actively working.

Why it’s not enough: The volume of job orders your team works is less important than the quality of the job orders.

A large pipeline can actually harm recruiting performance if it’s filled with job orders that have a low probability of leading to placements.

This is especially true for firms using a VMS or MSP. These firms’ pipelines tend to get frontloaded with low-value or unfillable job orders, and as a result their recruiters risk sinking all their time into jobs they will never fill.

On the flip side, a small pipeline isn’t a bad thing so long as it’s full of high value job orders and it’s easily replenished.

What you’re missing: You risk setting your firm up for failure if you don’t dig into your job order pipeline. Unless your recruiters are unusually diligent and self-aware, they are unlikely to close out the majority of job orders in your firm’s pipeline.

There’s not much value in knowing the size of your pipeline unless you can assess its quality as well.

To get any meaningful information out of your job order pipeline, you have to consider all the other variables that dictate how much of it as actually going to convert to revenue, and how much should be scrapped.

What stage are our job orders in?8 open job orders per employee, on average, created in the previous 12 months

06/01/2014 - 06/12/2015

Name Job Order Internal Submission Sendout Interview Place Total

William Henry 7 3 6 7 0 23

Nicholas Copernicus 11 1 1 9 0 22

Charles Darwin 1 0 0 15 0 16

Albert Einstein 8 2 2 4 0 16

Sir Isaac Newton 0 0 0 10 1 11

Edwin Hubble 3 0 5 2 0 10

Emil Fisher 2 0 1 5 0 8

Thomas Alva Edison 1 0 1 5 1 8

Alexander Graham Bell 3 0 1 4 0 8

Carl Sagan 1 0 3 2 1 7

Jonas Salk 0 0 1 6 0 7

Max Planck 0 0 2 4 0 6

Marie Curie 0 0 3 3 0 6

Nikola Tesla 0 1 1 4 0 6

James Maxwell 3 0 0 2 0 5

William Ramsay 3 0 0 2 0 5

Ernest Rutherford 0 0 1 4 0 5

Henry Bessemer 0 0 2 2 0 4

Robert Boyle 1 0 2 0 0 3

John Doe 0 1 0 1 0 2

Niels Bohr 0 0 0 1 0 1

John Doe 0 0 0 1 0 1

Total 44 8 32 93 3 180

0 2 4 6 8 10 12 14 16 18 20 22 24 26

William Henry

Nicholas Copernicus

Charles Darwin

Albert Einstein

Sir Isaac Newton

Edwin Hubble

Emil Fisher

Thomas Alva Edison

Alexander Graham Bell

Carl Sagan

PlaceInterviewSendoutInternal SubmissionJob Order

What stage are our job orders in? | InsightSquared https://clients.insightsquared.com/reports/new_opps/by_invento...

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What it Shows You: To understand which job orders you should prioritize, you also have to consider how you should expect your clients to behave. You should be taking your history with a given client into account when you decide which job orders you should be working.

The number of placements you’ve made with a client in the past, the average length of time it takes to make a placement with a client, and the amount of effort you expend on each client should all factor into how you decide which job orders are worth your time.

Why it’s useful: Recruiting activity only tells half the story of how a placement is made. To uncover the other side of the story, you have to take client behavior into account. Your best clients are the ones who interview a high percentage of the candidates you send them, make decisions quickly, and don’t force you to jump through too many hoops.

Combining historical data about client behavior with an in-depth understanding of how your own recruiting team functions enables you to lay out the job order pipeline so that your team can complete their work methodically and maximize its productivity.

Are You Working the Right Job Orders? Are You Working the Right Job Orders?

Digging Deeper - Lifetime Value Digging Deeper - Client Efficiency

What it shows you: Total lifetime value of job orders takes the duration of placements into account in addition to the margin, which levels the playing field for comparing job order values.

Why it’s useful: Your ability to maintain a steady flow of revenue hinges on how well your recruiting team can identify and work high-value job orders. The effort they expend sourcing and preparing candidates for lower-value orders could end up costing them the chance to make a high-value placement, so it’s important to look at the total lifetime value of the job order rather than the gross margin in order to prioritize more effectively.

Recruiters have a bad habit of using hourly margins to organize and prioritize job orders in their pipelines. This practice leads them to leave a lot of money on the table, because they’ll prioritize a short-term placement with a high hourly margin over a long-term placement with lower hourly wages. Prioritizing by the total value of the job provides pipeline visibility and helps mitigate that problem.

How is our margin trending?70% margin on bookings in the previous 12 months

01/06/14 - 12/06/15

Month Net Value Gross Value Margin Percent

Jun 2015 £286,072 £401,460 71%

May 2015 £639,627 £1,048,688 61%

Apr 2015 £452,032 £821,588 55%

Mar 2015 £469,606 £476,537 99%

Feb 2015 £571,583 £769,858 74%

Jan 2015 £371,535 £579,167 64%

Dec 2014 £382,532 £448,292 85%

Nov 2014 £457,097 £636,634 72%

Oct 2014 £364,369 £469,362 78%

Sep 2014 £271,525 £368,425 74%

Aug 2014 £380,229 £820,638 46%

Jul 2014 £381,152 £403,152 95%

Jun 2014 £262,086 £298,550 88%

£5,289,447 £7,542,353 70%

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Net ValueGross ValueMargin Percent

Jun 2014 Jul 2014 Aug 2014 Sep 2014 Oct 2014 Nov 2014 Dec 2014 Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015

How is our margin trending? | InsightSquared https://clients.insightsquared.com/reports/gross_bookings/

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Who are our best clients?120 clients had bookings in the previous 12 months

06/01/2014 - 06/12/2015

showing 1 - 100 of 120

Client Open JobOrder Age

SalesCycle

WinRate Bookings Efficiency Average

Placement Value Last Activity Last 30 Days Activity

Wal-Mart Stores 108d 64.1 56% $522,979 -75% $12,162 today

Exxon Mobil 20d 13.8 48% $232,724 72% $11,636 today

ConocoPhillips 42d 68.4 40% $159,400 -37% $19,925 today

Ford Motor 72d 124.3 88% $150,312 -69% $21,473 4 days ago

Bank of America Corp. 47d 61.3 35% $135,000 -31% $19,286 4 days ago

Verizon Communications 90d 60.2 18% $131,800 -68% $7,753 4 days ago

McKesson N/A 86.5 75% $123,500 16% $20,583 1 month ago

Berkshire Hathaway 137d 91.4 63% $122,600 122% $24,520 2 days ago

Procter & Gamble 18d 10.0 38% $118,750 -68% $14,844 today

Walgreen 18d 69.3 18% $115,266 -34% $23,053 3 days ago

J.P. Morgan Chase & Co. 61d 41.8 62% $112,500 -79% $14,063 today

American InternationalGroup N/A 41.7 57% $100,800 -24% $12,600 1 month ago

International BusinessMachines 52d 23.8 100% $100,050 -53% $16,675 yesterday

AT&T 78d 84.0 48% $96,982 -63% $8,082 3 days ago

ClickSoftware Technologies N/A 139.0 100% $87,500 21% $43,750 3 days ago

Boeing 74d 34.0 33% $77,000 -30% $38,500 3 days ago

Johnson & Johnson 7d 51.0 63% $70,900 -32% $14,180 3 days ago

Microsoft 4d 13.5 31% $66,234 2.5% $16,559 today

UnitedHealth Group 27d 98.3 25% $66,000 -42% $22,000 7 days ago

United Technologies N/A 113.5 29% $63,000 9.2% $31,500 3 months ago

Goldman Sachs Group 119d 25.0 100% $62,500 -4.1% $31,250 3 days ago

Marathon Oil N/A 34.0 17% $61,173 736% $61,173 3 weeks ago

Archer Daniels Midland N/A 7.0 100% $60,125 -22% $20,042 3 months ago

Lockheed Martin N/A 70.0 50% $60,000 89% $60,000 2 months ago

United Parcel Service 57d 14.0 67% $60,000 -20% $30,000 today

Best Buy N/A 39.3 80% $59,000 208% $14,750 3 months ago

Total 62d 56.5 34% $5,289,447 $15,980

$0K $50K $100K $150K $200K $350K $400K $450K $500K

-100% -80% -60% -40% -20% 0% 20% 40% 60% 80% 100% 120%

Wal-Mart Stores

Exxon Mobil

ConocoPhillips

Ford Motor

Bank of America Corp.

Verizon Communications

McKesson

Berkshire Hathaway

Procter & Gamble

Total Revenue

Efficiency vs Median

BookingsEfficiency

$250K $300K

Who are our best clients? | InsightSquared https://clients.insightsquared.com/reports/client_dash/

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As useful as data about pipeline health and daily performance is, the only numbers that most managers care about are the bookings. After all, your firm’s efforts all go to waste if you run out of cash.

While it’s true that you have to make decisions based on your bookings results, this way of thinking hamstrings your ability to actually increase your revenue. Your bookings don’t tell you anything about what is going to happen, which is what you really need to know to improve recruiting performance.

To manage effectively, you have to know the story behind your bookings results and work through it to find out why the bookings weren’t higher (they can always be higher), and what you can do to refine your performance in the future. The final section of this eBook walks through the ways that you can get the full story behind the results of your recruiting efforts.

• Active Placements• Placement Funnel• Candidate Funnel

Is Your Recruiting Process Effective?

Section / / 3

Is Your Recruiting Process Effective?

Summary

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What it shows you: Tracking your active placements is an important method to both measure the effectiveness of your recruiting team’s efforts and identify candidates who they could place again in the near future.

The record of active placements also helps you look forward to identify the “cliff” — the point where you can begin negotiating extensions to maintain a steady revenue stream.

Why it’s useful: On a tactical level, the record of candidates out on assignment acts as a ready-made list of new candidates who can be submitted in future assignments once their current placement ends. This increases the efficiency of your firm’s recruiting activities and improves the quality of service you deliver to clients at the same time.

From a management perspective, the list of active placements provides you with the information you need to look forward and pick out clients who will be set to either renegotiate contracts or require additional candidates in the near future.

Is Your Recruiting Process Effective? Is Your Recruiting Process Effective?

What You Do Now - Bookings Digging Deeper - Active Placements

What it tells you: Bookings are a direct measure of how much income has already been committed to your firm. This is distinct from the amount of cash into your firm, but still predicts the amount of revenue you should expect to take in.

Why it’s not enough: Bookings are a retroactive metric – they show you where you currently stand, but they have a limited ability to show you where the weaknesses are in your recruiting process, and don’t provide any value towards helping you coach recruiters and fine tune your approach to working with specific clients.

What you’re missing: If the only concrete measure of results you have is your bookings number and the number of placements made, you’re going to have a hard time correcting course if production slows down. To avoid pinning yourself as one of those staffing and recruiting firm leaders whose only coaching advice is to “work harder,” you have to find more insightful ways of slicing up your team’s results.

There are a lot of factors involved in achieving your bookings results, and it’s important to understand exactly how each one plays into the number that you ultimately end up with.

Active Placements › Over Time

What are our active placements?26 active placements with $88,402 gross margin revenue this month

09/01/2014 - 08/31/2015

Month ActivePlacements

PlacementsStarting

PlacementsEnding

Placements NetChange

RevenueGoal

Gross MarginRevenue

RevenueStarting

RevenueEnding

Revenue NetChange

Aug2015 23 0 8 -8 $0 $75,695 $0 $22,211 -$22,211

Jul2015 24 0 1 -1 $0 $91,093 $0 $1,987 -$1,987

Jun2015 26 5 2 3 $0 $88,402 $20,874 $10,736 $10,138

May2015 24 6 3 3 $0 $69,936 $21,966 $7,728 $14,238

Apr2015 24 3 6 -3 $0 $71,192 $10,560 $28,987 -$18,427

Mar2015 24 2 3 -1 $0 $81,524 $11,391 $9,154 $2,237

Feb2015 25 2 3 -1 $0 $70,082 $8,160 $9,408 -$1,248

Jan2015 30 6 7 -1 $0 $81,183 $26,928 $27,136 -$208

Dec2014 27 3 3 0 $0 $89,871 $16,159 $14,161 $1,998

Nov2014 27 4 3 1 $0 $72,881 $13,016 $10,093 $2,923

Oct2014 31 1 8 -7 $0 $90,579 $2,410 $33,116 -$30,706

Sep2014 34 2 4 -2 $0 $115,219 $9,328 $14,608 -$5,280

319 34 51 -17 $0 $997,656 $140,792 $189,325 -$48,533

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Revenue StartingRevenue EndingGross Margin RevenueRevenue Goal

Sep 2014 Oct 2014 Nov 2014 Dec 2014 Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015

What are our active placements? | InsightSquared https://clients.insightsquared.com/reports/contract_rev/

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What it shows you: The placement funnel only tells half of the story – the candidate funnel shows you the other half. The candidate funnel breaks the progression of candidates down into stages to shed light on how efficiently (or inefficiently) your recruiters progress candidates through the recruiting process.

Why it’s useful: The candidate funnel provides insight into where the most damaging inefficiencies are in your recruitment process, and ensures you are maximizing the productivity of your candidate pool.

This way of looking at your past performance is especially useful for seeing what happens to candidates after they are put in your ATS. It helps determine whether your time is better spent making warm calls to candidates you’ve already reached out to, or working on cold outreach to bring in an entirely new cohort of candidates.

Is Your Recruiting Process Effective? Is Your Recruiting Process Effective?

Digging Deeper - Placement Funnel Digging Deeper - Candidate Funnel

What it shows you: A placement funnel is a stage-by-stage breakdown of your recruiting process. It allows you to see not only how many placements you’ve made, but also the percentage of job orders that progress to each stage of your recruiting process.

Why it’s useful: Knowing the number of placements your firm makes is only useful for future job orders if you can break down the flow that job orders follow as they work their way through your recruitment process.

By regularly analyzing stage-to-stage conversions for job orders, you can pinpoint the weaknesses in your team’s approach to filling job orders and put training and resources in place to increase the number of job orders that make it into each stage.

This leads to incremental improvements in your sales performance as a whole, which in turn gives clients a more consistent experience with your services and provides candidates with a streamlined path to employment. Ultimately, these improvements are the surest way to increase your bookings.

What are our conversion rates for closed job orders?24% win rate for job orders with close dates in the previous 12 months.

06/01/2014 - 06/12/2015

Stage Count % Conversion to Next Conversion % from Top Unconverted Won %

JobOrder 1,346 74% N/A 350 24%

Internal Submission 996 92% 74% 84 33%

Sendout 912 74% 68% 241 36%

Interview 671 49% 50% 345 49%

Placement 326 N/A 24% 100%

Job Order

Internal Submission

Interview

Placement

Job Order Count

Job

Ord

er S

tage

1,346 74%996

92%912

74%671

49%326

Sendout

What are our conversion rates for closed job orders? | InsightSq... https://clients.insightsquared.com/reports/opp_funnel/

1 of 1 6/12/15, 12:07 PM

What are our conversion rates for candidates?13% of candidates that had activity 'Interview' also had activity 'Place'

06/01/2014 - 06/12/2015

Created

Call

Internal Submission

Sendout

Interview

Place

Candidate Count

Can

dida

te S

tage

29,686 9.8%2,901

100%2,901 87%2,521 55%1,384 13%177

What are our conversion rates for candidates? | InsightSquared https://clients.insightsquared.com/reports/cand_funnel/

1 of 1 6/12/15, 2:06 PM

22 23

There’s nothing more dangerous than threats you don’t see coming.

The one disadvantage to keeping a close track of activity metrics is that they can give you a false sense of security. Looking at them in isolation is like relying on the check-engine light of your car to tell you when it’s time to go in for a check-up – by the time you see it, a lot of irreparable damage has already been done.

To ensure steady revenue growth and smooth sailing for your recruiting firm, you have to look under the hood and begin identifying and correcting inefficiencies before they become real problems.

The good news is that if you’ve been diligent about tracking your activity metrics and results, you’ve already got the foundation you need to evaluate your past performance and chart a course for continued success in the future. You just have to dig one layer deeper.

And now that you’ve read through the methods highlighted in this eBook, you know exactly how to do that. Take advantage of these insights to inform the way you manage your recruiting team, and you’ll never be blindsided by an unexpected drop in performance.

Conclusion

ConclusionInsightSquared is the #1 Analytics product for Staffing & Recruiting firms. Unlike legacy Business Intelligence platforms, InsightSquared can be deployed affordably in less than a day and comes preloaded with reports that real business people can use. Hundreds of companies and thousands of users around the world use InsightSquared’s award-winning analytics to maximize sales performance, increase team productivity and close more business.

For more information visit: http://www.insightsquared.com/staffing

About InsightSquared

About InsightSquared