If you’re starting from scratch in terms of metrics to track, here is our advice. Break up your metrics into two buckets, traffic and conversion.
By looking at metrics related to these two themes, you’ll be able to quickly understand where you should be spending your time to get more quality job seekers into your hiring funnel. First, here’s how we define these metric categories:
- Traffic relates to anyone who’s interacted with your employer brand. This could be career site visitors, impressions on social, people who visited your event, etc.
- Conversion relates to job seekers who’ve raised their hand to say “yes – I want to apply for a job / join your talent community / talk to a recruiter” after learning about your employer brand.
To demonstrate why these metrics are where you should start, let’s think about a company that isn’t getting enough quality applicants. When you think about it, there could be two big problems. One is that not enough people are hearing about the company (traffic), the other is that when people hear about the company, they aren’t interested (conversion).
If you’re tracking metrics related to traffic and conversion, you may notice that your career site gets tons of visitors, but very few applicants, and fewer good applicants. That should tell you that adding microsites, employee testimonials, etc is what is needed.
Another scenario could be a career site where 50% of traffic applies into the ATS/Talent Community – but there are still very few applicants. Clearly in this scenario we need more traffic and something like employee advocacy is necessary.
These two major buckets of metrics may seem overly simple, but having a grasp on them will tell you so much in where to focus with your top of funnel talent acquisition metrics. Here’s more in our Whiteboard Wednesday video: