If attracting and retaining top talent is one of your company’s goals, you likely put emphasis and support behind your recruiting efforts. But if your company is like many others out there, you might be struggling to make sure your recruiting is as effective as possible. Rest assured, you are not alone–learning how to maximize and measure your recruiting effectiveness is a critical part of your ultimate success–yet few companies truly know how to manage it.
Understanding how to maximize your recruiting efforts is a concurrent process with measuring–as with any process you need to invest time, energy and resources and then measure and test variations to constantly improve strategy. And while the ultimate results will lie in the volume and quality of incoming talent, there are many touch points and channels to measure and adjust along the way.
Effective recruiting ultimately lowers HR costs by improving the quality and retention of candidates–allowing HR to narrow their focus to just the top prospects. Studies have shown that new hires can cost more than twice their salary when all costs are considered–making ineffective recruiting a costly endeavor. However, a top-producing new hire that helps propel company success will create a hiring ROI of many multiples their salary in the long run. So how do you increase your hiring ROI? By employing low-cost employer branding strategies to organically propel interest.
This means aligning HR priorities and messaging with the Marketing Communications department–making sure prospective employee-facing messaging tells a compelling and authentic story: one worthy of a loyal following of interested top talent prospects. Highlighting company events, successes, training programs and perks are just a few of the storylines that can be leveraged to maximize recruiting effectiveness. By weaving these into the general marketing communications framework, companies can drastically improve their hiring ROI.
In addition to making your employer brand an ongoing storytelling process, your HR department needs to be able to measure and analyze the results of each campaign and individual effort. Whether they hosted a month-long recruitment fair on Facebook, engaged in Twitter town halls with university students preparing for graduation, or created an interactive college fair booth to activate more prospects on site, HR needs to be able to explain what occurred as a result of the efforts.
To do so, companies need to bring digital marketing strategies to HR, employing prospect nurturing, candidate data capture and re-targeting opportunities to retain, analyze and respond to digital signals. Simply relying on the “How did you hear about us?” field on an application won’t cut it–and there are so many opportunities to use digital marketing strategies in attracting and developing top talent, all of which leave a digital footprint that allow HR managers to accurately and thoroughly assess the true results of each recruiting strategy. By lining up each candidate’s interactions over time, HR departments can create attribution models that depict typical engagement levels of top prospects–and align future strategies based on real data and proven metrics.
Maximizing and measuring recruiting effectiveness is a large undertaking when first developing plans and procedures–but the ability to say definitively whether a strategy does or does not work and then align future strategies and investments accordingly will pay off in multiples in the long run. If you are looking to engage in these efforts but are unsure of how to begin, employer branding agencies, digital communications agencies and customer management tools can help you get started.
About the author
David is Univerum’s Global Vice President of Product and Head of Digital for the Americas