Recruitment reports… just where do you start? It is so easy to be overwhelmed by the variety of job boards out there. As a recruiter, it’s all very well having your favorite, ‘go-to’set of job boards and other tools to fill positions.
But are these meeting your goals? This is how recruitment reports are valuable. These offer insights that you can use to elevate your recruiting techniques, attracting the right candidates to fill your positions.
The current job market is competitive, and the best candidates are often snatched up before you find out they exist. With the right data, you can improve your chances of finding top-quality candidates for each available job.
Keep informed and improve your applicant tracking system (ATS) with these Essential Reports From Oleeo Insights.
What Are Recruitment Reports?
Recruitment reports are an excellent way to make your hiring process more efficient and effective.
Put simply, they track and assess candidates and processes at each stage of hiring. For example, you could use a sourcing report to discover how recruitment campaigns are going and where you could improve.
A sourcing report can track your ads, social media posts, recruiters, etc., log where applications are coming from, and generate reports that present this information in an easy-to-understand format.
You can use this data to adjust your recruitment strategy as needed.
Similarly, once you have a selection of candidates, you can use reports to help you make the right choices. Diversity, performance, experience, etc. reports will give you the information needed to pick the best people and get the most ROI out of your hiring process.
What Are The Benefits of a Recruitment Report?
Recruitment reporting has many benefits, including (but not limited to):
Pinpointing strengths and weaknesses
Recruitment reports gather and present data on both your candidates and systems, making it easier to identify strengths and weaknesses.
They also make it simple to cross-reference these strengths and weaknesses with other data points so you can determine how important they are in the grand scheme of things.
For example, say your reports show that Facebook is a strong source of candidates, while LinkedIn is relatively weak. However, when you cross-reference this with performance data, you discover that even though you get fewer applicants from the latter, they perform better and generally better fit your company.
Helping you improve your hiring experience
Recruitment is often the first direct experience a prospective employee has with your company. So, to attract and retain the best candidates, it’s important it would be a good experience for all involved.
Recruitment reports can help you track Candidate Experience and monitor potential sources of frustration (like long waits for responses or stressful silences between stages).
Boosting your hiring strategies
Recruitment reports are also great for data driven recruiting and can be a handy strategic tool. They can help you with everything from finding the best sources for candidates to staging the right number of interviews.
The insights you glean from your recruiting reports can help you create and refine a recruitment strategy that delivers the best candidates and experience in the most effective and efficient ways possible.
Improving data accuracy and reducing biased decisions
Everyone has biases, whether conscious or unconscious. This can prevent us from making the right decisions when it comes to hiring.
Recruitment reports help you combat this by providing a data-based recruiting strategy. This gives an honest and unbiased view of candidates, helping you make decisions that are unclouded by personal assumptions.
It can also give you accurate information about your systems and processes, showing which are working, which aren’t, and where improvements can be made. This is important, as we can be as biased about our processes, systems, and strategies as we are about people.
8 Crucial Reports to Have on Your Recruiting Dashboard
Oleeo offers a range of ways to report on your recruiting. Our Recruitment Software can offer detailed analytics on every stage of a candidate’s journey and every element of your process.
Here are eight of the most important reports to have on your recruitment dashboard.
1. Applicant source report
This report lets you see where you’re finding your best recruits and should always feature on your recruiting metrics dashboard. Oleeo’s ATS tracks each source, including staffing agencies, job boards, referrals, events, and other hiring sources, and helps you see which are working well for your company. Over time, you can use this to scale your efforts, focusing on the channels that bring in the best potential employees.
You may notice, for example, that many of your top candidates come from LinkedIn. In this case, you might choose to spend more money on sponsored job posts since you know the platform has a high volume of quality candidates.
An applicant source report can also help identify potential issues with your recruiting process. If you notice a certain job board that your recruiting efforts are rarely successful on, you may change your strategy to appeal to candidates who are a better fit for you.
2. Position report
A position report provides a snapshot of the current state of your recruiting process. This feature of your recruitment metrics dashboard shows open positions in each pipeline, so you get an easy overview of where you are.
For example, you can use position reports to see which candidates have already been interviewed and which need an interview to be scheduled. Similarly, you can check how long each job has been open and how close it is to being filled.
With Oleeo, you can also break down each position into stages to get detailed information on factors like holdup and flow. This means you can see at a glance where candidates are becoming bottlenecked and where you need to focus your efforts.
3. Diversity analytics
A commitment to diversity, equity, and inclusion (DEI) is essential in today’s workplace. More than Half (65%) Of Companies list it as a priority. If you’re among them, Oleeo’s diversity analytics can help you attract a wider range of applicants.
This report gives you access to talent acquisition dashboards that show you how your Diversity Recruiting Metrics stack up at each stage of the hiring process, from recruiting to job offers. You can use these tools to understand how your efforts are attracting applicants of varying backgrounds and fill in potential gaps.
You may find your job descriptions aren’t attracting an equal balance of candidates from different ethnic backgrounds, or your job posts could be deterring women from applying. Reports can also show the candidate mix as you move through the Interview Process. You may even discover that your recruiters are working with their own subconscious biases.
With analytical reports, you can identify these gaps and create strategies to fill them. These are an excellent source of data to help bring other executives on board with DEI initiatives and hiring strategies.
4. Time to hire
You can track how long it takes candidates to move through your hiring process with Oleeo’s time-to-hire report and use this data to find inefficiencies within your process. It could be that screening takes too long or the Interview Process is held up by scheduling conflicts.
Time to hire is an important metric for your recruiting team because when it takes too long, high-quality candidates might lose interest in your company. With so many businesses vying for similar candidates in a shrinking talent pool, it’s important to be able to recruit quickly.
A time-to-hire report can also help you establish a consistent recruiting process throughout your team, making everyone more efficient. For example, you can use it to improve your training process for new recruiters and help fill vacant positions faster.
5. Time to fill
A time to fill report shows how long it takes to fill each position. It’s often confused with time to hire, but there’s a crucial difference.
Time to hire measures the time that passes between a position getting its first applicant and signing a new contract.
Time to fill refers to the entire hiring process, from deciding to advertise for a new role to a new hire filling the position.
When cross-referenced with other reports, time to fill can tell you important things about your hiring process. For example, if your time to hire is relatively short compared to your time to fill, this may indicate a problem with your recruitment campaigns.
6. Cost of hire
There are a lot of hidden hiring costs that may not become apparent without a proper report into them. In the meantime, recruiters, software expenses, advertising, training, and the cost of getting the necessary work done all add up.
Fortunately, this type of report will comprehensively detail every cost involved in hiring a new member of staff. This can help you identify areas for potential savings and get more ROI from your hiring process.
7. Candidate experience
Whatever your industry, your customers expect a good experience. The same is true for applicants.
Oleoo Insights helps you assess each candidate’s experience. With this talent acquisition report, you can identify parts of the process that are consistent pain points among applicants and look at places where candidates regularly drop out.
Supplement these insights by asking applicants how you could improve. By including questions in your recruiting process, you can assess which areas need updating and then use this information to fix the more cumbersome parts of the hiring journey.
8. Employee retention
Your employee retention rate can not only tell you when you might need to think about scheduling new recruitment campaigns, but it can also reveal important things about your company.
For example, a low employee retention rate may indicate that people don’t like working for you or that your rivals are offering more competitive benefits.
An employee retention report is useful for determining how often you may need to recruit new staff and when this is likely to occur.
How to Write a Recruiting Report: Example
A general recruiting report provides insight into and an overview of a given campaign. With Oleeo it’s easy to write as you can quickly bring up detailed information on each element of your campaign and transfer this to the document you’re compiling.
A recruiting report should include:
- The number of candidates recruited
- The resources used
- An expenditure breakdown and total
- Challenges
- Suggestions for future improvement
- A summary of results
Oleeo makes this a simple process. You can bring up all the data, results, and statistics you need to write a comprehensive report at speed, plus graphs and diametrics to demonstrate your points.
Recruitment Reports: The Backbone of Any Recruiting Metrics Template—How Oleeo Insights Can Help You
Recruitment reports should form an integral part of your recruitment process. They offer the kind of accurate and impartial data needed to fully understand your approach, systems, and candidates.
They can also help you pinpoint your weaknesses, improve recruitment pipelines, boost the candidate experience, and ultimately pick the right person for the job.
If you’re ready to elevate your recruiting process with data-driven insights, allow Oleeo to help. Our ATS software empowers you to leverage data to attract the best candidates and quickly move them through the hiring process.
Contact Us Today for recruiting metrics examples and to find out how we can help you tailor your applications, manage candidates, write job descriptions, and attract diverse candidates to your organization.
Book A Consultation now.
FAQs About Recruitment Reporting
What are the benefits of recruitment reports?
Recruitment reporting has several benefits. First and foremost, it helps you identify the best candidate for a given position.
In addition, it offers an unbiased, data-based foundation on which to build recruitment campaigns, boosts your recruitment ROI, and provides deeper insight into both candidates and your recruiting processes.
How are recruitment reports used to optimize hiring strategies?
Recruitment reports optimize hiring strategies by helping companies use recruiting data in more effective and efficient ways.
For example, you can use them to look at the recruitment pipeline for each position, identify candidate bottlenecks, and devise ways to break up those bottlenecks and get things flowing again.
Can recruitment reports help improve candidate experience?
Recruitment reports are a great way to improve candidate experience. By using them, you can identify candidate flashpoints and aspects of your process cause frustration.
For example, a time to fill report might show long gaps between each stage of your hiring process. This may be annoying or even upsetting for candidates.
The insight provided by your report helps you know where to concentrate your efforts to improve the hiring process and boost candidate experience.
