When you are a recruiting manager and you’re handling a team of recruiters it is very easy to misunderstand and think that your top billing recruiter is also your top-performing recruiter. In the world of business, there is no doubt that revenue is of course important, but it is also very important to look closely and know who is the most efficient in their market. The easiest way to do this is by looking at your recruiter’s candidate conversion rates right from the very beginning through from job vacancy posted, to job filled. Once you have all this information with you, you can use this data to identify key areas to improve your overall recruitment process.
Job conversion rate is the percentage of successful placements made from the total jobs worked by a recruiter. It can be worked out like this:
Recruiter conversion rate calculator:
Conversion rate = Number of Jobs Filled / Total Jobs Worked
The higher the conversion rate, the better. This implies you are getting a greater profit on all-time invested by your recruiter. A recruiter who effectively fills the majority of jobs that they are working, for example, is more effective than one who fills a lower percentage of jobs that they are working. Regardless of whether the lower percentage recruiter bills more.
It’s extremely essential to compare like-for-like when looking at the distinctive recruiter performance across your team. Somebody taking a shot at the temp work area is required to have a higher change rate than somebody working perm, so you ought to stay away from correlations between the two. On the off chance that they are working in blended work areas, then again, an examination will be valuable.
When you have all the outcomes from over your group, think about them and work out a normal. This normal will at that point permit you to think of an attainable objective for your spotters, and a reliable norm to evaluate them with.
Benefits of Online Assessment in Improving Conversion Rate:
Applicant tracking system (ATS)
ATS and online assessment tools are like long lost brothers coming together to make each others’ lives better. Inbuilt ATS which comes along with most online assessment platforms nowadays is something which will make a recruiter’s life easy in terms of tracking and monitoring the endless number of applicants in a way which will help you take a breath of fresh air.
One of the biggest strains that a recruiter has to go through is reaching out to the audience and pick out the ones he likes. But, the ocean of candidates is ever-growing and every day it is a struggle for recruiters to keep a tab of these endless applicants.
In this scenario, online assessment tools help in ensuring that you reach as many candidates as you can from the comfort of your cabin. About 3.2 billion people which constitute about 51% of the world population, have internet access. So if you are looking for millennials for your organization then what is better than catching them on the go on their phones or social media!
Instant detailed reports to find quality candidates
Being in this market at this point in time, as a recruiter, you should have a clear vision of what is needed for your organization. This vision can be streamlined into your day to day action items. And one of the major requirements is a quality candidate, cause no matter the size of your company, a bad hire can cost you hundreds and thousands of dollars. But how do you separate a good hire from a bad one? Online assessment tools come to rescue here with automated and comprehensive reports of the candidates based on their performance in the test. These reports will be delivered straight to your desktop enabling a recruiter to analyze results with ease from their cabin. Also, they can increase the probability of hiring quality candidates and also to help screen and select the best-suited candidates for specific job profiles.
Eliminating human error
To err to humans.
So what to do in a delicate situation where a hiring error can cost an organization hefty when it comes to time and money.
Simply Eliminating humans and bringing in automated online pre-assessment tools. Pre-employment skill testing can help you in finding a proper job fit between the candidate and the job you are recruiting for. Online assessment tools can help you here by matching the right candidate to the right job leads to increased productivity and reduced total employee turnover. One of the features of these tools includes an automated grading process that ensures all the test scores are objective and free of any type of human error.
Instant report and its analysis:
Online assessments comes with the benefit of eliminating human error. For trainers and recruiters who have been checking and analyzing reports manually understands the pain of sitting and going through endless scripts and reports of candidates. It’s time to take a breath of relief. Online assessment tests have done away with the need to analyze reports manually. Nowadays in most of the online assessment platforms, the reports generated marks the key performance area of a candidate with a detailed report analysis and the candidate’s answers as well. Recruiters can design their hiring and training module based on the data derived from the report.