Can you convert all those recruitment data into something insightful? Is there a way or a technology that could help organisations use these recruitment data to connect with the right talent?
Yes. It’s called data. The power of data is way beyond our imagination. Just like in any other sector, it is vital that a recruiter makes efficient use of data to get better insights and make effective decisions. Recruitments are becoming more technology-driven. Recruitment dashboards, recruitment trackers and digital staffing dashboards are a few such inventions that can help recruiters optimise their recruitment process or HR department to check if their workforce goals are met effectively or not.
In this article, fatraven has decided to take a deep dive into the recruitment dashboard and its role in the hiring process. We will address the following questions :
- What is a recruitment dashboard?
- What are the benefits of using a recruitment dashboard?
- Which are the top KPI’s you must add to your recruitment dashboard?
- What should you keep in mind while creating your recruitment dashboard?
What is a recruitment dashboard?
The recruitment dashboard gives you a collective view of the entire hiring process. Just imagine your car dashboard. How effectively it displays the key metrics (gear, fuel, speed, etc.) that help you understand your machine while driving, doesn’t it? That’s exactly how recruitment dashboards work. It can help you in leveraging the important metrics of recruitment for a smooth and tidier process.
What are the benefits of using a recruitment dashboard?
In today’s human resource department, the recruitment analytics dashboard has become increasingly popular. There are various benefits of using recruitment dashboards:
- Recruiters can understand if their hiring efforts are proving beneficial or not.
- They can not only understand but also visualise the problem.
- Recruiters can redefine their strategies.
- Recruiters can effortlessly track the efficiency of their hiring funnel.
In a nutshell, when everything is visually available, you tend to take better control over things. The recruitment dashboard helps you stay competitive as you can hire the right fit for your organisation and strategize your KPI performances. Nevertheless, the success of your recruitment dashboard usage also depends on the KPIs you track. Our next section is all about that.
Which are the top KPI’s you must add in your recruitment dashboard?
- Offer acceptance rate (OAR)
- Time to fill
- Time to hire
- Quality of hire
- Source of hire
- Source of channel efficiency
- First-year attrition
- Hiring Manager satisfaction
- Cost per hire
- Applicants per opening
- Recruitment funnel effectiveness
- Candidate job satisfaction
- Selection ratio
Also read: Top KPIs for Recruiters
What should you keep in mind while creating your recruitment dashboard?
While gearing up to create your recruitment dashboard, you must make sure to choose all the right tools such as cloud-based HR software, spreadsheets, etc. Remember to make it as visual as possible with charts, graphical elements, fonts and colour palettes. It may seem like adding too much data can bring better results. But that may complicate things for you. So keep it simple and updated. Also most importantly, take the insights from your dashboard and act on them.
Hiring talents in this throat cutting competition has become daunting than ever. According to a recent survey, companies are finding difficulties in sourcing candidates who are skilled and the right fit. And mind you! there is no dearth of talent in the job market. But yet this happens. The recruitment dashboard will be an effective tool to understand your recruitment funnel and eventually help you in making smarter hiring decisions. We hope this article has helped you in earning some insights on this valuable hiring tool.