Only 50 percent of hiring teams use an applicant tracking system (ATS) in their recruitment process, but 78 percent of those companies that do use an ATS said that the technology has made recruitment easier than ever.
Most recruiting teams recognize the value of integrating a data-driven approach. Using the right tools to leverage data, track candidates, identify the best hiring channels, automate tedious tasks, and more can be a huge benefit to your hiring princess. But spending hours analyzing, monitoring, and reporting on data analytics is not a practical approach.
This is where a competent recruiting dashboard comes in. Below we’ll cover everything you need to know about building the perfect recruiting dashboard.
What is a recruiting dashboard?
A recruiting dashboard is a data-analytic and reporting platform that gives you an overview of your hiring metrics, KPIs, benchmarks, and the efficacy of your hiring practices. These dashboards focus on the most important metrics and analytics reports, providing you with valuable insights into your current practices and future strategies.
What metrics do you include in your recruiting dashboard?
It’s important for your team to identify and focus on the metrics that are most relevant to your hiring needs and challenges. For a lot of teams, however, the most analyzed and commonly-tracked metrics will often be the same.
Let’s look at some common metrics you can track, analyze, and generate reports on with your dashboard.
- Talent sourcing metrics: How strong are your hiring pipelines? Talent sourcing metrics give you insights on candidate past performance, education, automated reference checking, and visibility to identify green flags and red flags.
- Time to fill: Time to fill is one of the most commonly tracked metrics for good reason. It refers to how long it takes for your team to identify and hire new candidates. Time to hire is an important metric for your managers and team leaders to know, on average, how long it might to fill a vacant spot, allowing them to better plan for high turnover rates, layoffs, or new openings.
- Quality of hire: A speedy hiring time may not mean much if your quality of hire is lacking. Quality of hire metrics look at how productive, effective, and engaged employees are after they’ve been hired. Quality analytics can also tell you which hiring channels yield the best hires.
An advanced recruitment analytics dashboard will give you insights into these and other metrics. The best analytics dashboards will generate easy-to-read visuals and models, making it easy for you to share your findings with stakeholders and other team leaders.
Build your recruiting dashboard around metrics that leaders care about
You want your metrics to reflect your current hiring needs, but you also need to track the analytics that your HR leaders and C-Suite executives care about. These are usually big-picture metrics that tell them whether their annual or quarterly goals are being reached. Below are a few important metrics that your recruitment leaders will want reports on.
- Hiring percentage to goal: This refers to what percentage of jobs you still need to fill in in order to meet your hiring goals for that hiring period.
- Diversity of hires: The evidence is clear that diverse teams are more innovative, engaged, and successful at what they do; execs recognize the importance of initiating a diversity strategy, and they expect your hiring process to reflect those merits.
- Acceptance rates: Hiring leaders care about how often candidates are accepting job offers because they want you to be able to secure top talent when you identify them.
- Talent acquisition ROI: Your hiring leaders and execs care about the numbers, especially when there’s a dollar sign in front of those numbers.
Recruiting Dashboard Template Example
Want to get an idea of what a recruiting dashboard looks like? Check out Crosschq’s Talent Sourcing page. From the talent sourcing dashboard, you could:
- Source active, qualified candidates
- Leverage 360 reference checking technology to build your talent pools
- Reduce your team’s sourcing hours with a Crosschq opt-in network of highly qualified candidates
- Benefit from an active pipeline that has a 70% acceptance rate
- Access recruiter insights and metrics relevant to sourcing and your pipelines
Iterating on your recruiting dashboard
After building your initial dashboard, you’ll want to see start building on your analytics strategy by identifying which metrics matter most during presentations and for your success.
While there will be metrics that you track and report on every week, month, or quarterly cycle, you want to iterate on your analytics strategy and find new insights that might help you improve your hiring practices. You don’t want to be complacent and neglect alternative insights that might help you see your hiring process in a new light.
Getting started with your recruiting dashboard
Building a recruiting dashboard starts with selecting a platform that can help you home in on the most important metrics, insights, and analytics. With the Crosschq platform, you get a cutting-edge dashboard that provides you with automated 360 reporting, on-demand reporting and analytics, a talent acquisition dashboard, TalentWall insights, and more.
Click here to learn more about how Crosschq can transform your hiring practices today.
Get started and see how you can optimize your hiring process, improve Quality of Hire and drive real business impact today.
- Increase Quality of Hire by 34%
- Boost recruiter efficiency by 28%
- Reduce time to Hiring Intelligence maturity by 84%
Topics from this blog: Recruiting MetricsBack
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