As we move further and further into the digital age we’re seeing that there are few industries that haven’t been touched by technology. So it goes for HR, analytics and predictability are growing in importance. This is where the help of HR software comes in handy. Depending on what it is you use (or are looking into) you can pull statistics from the software to aid in your hiring timeline.
At this point you should know pretty well how the hiring process works. First you post a job, then the applications trickle in, you begin the interview process, and from there you pick a lucky applicant to fill the position. That is all good and great, but do you know on average on long it takes your company to make it through the hiring process from start to finish? Also, how many quality applicants do you get on average when you post a job? Things such as these are good to know, especially when you’re expected to hit deadlines.
Statistics such as:
- how many new applicants have applied this week
- how many of them are qualified for the position
- how long the posting has been open
can allow you to make a more definite prediction on when the posting should be filled. Over time you can track patterns and average the amount of time it takes to fill an opening.
Another tool that can be helpful in your hiring is to look into the reasons why certain applicants were rejected. You can draw conclusions that will aid you in drafting your next job description. Did you have a lot of unqualified applicants apply to your opening? Try tweaking your description and see if that changes the quality of applications you receive.
Once you’ve learned the ins and outs of your specific hiring process you can now focus on hiring the best applicants available. Being able to provide a detail orientated timeline to candidates allows them to plan better and shows them that you have a process in place (bonus points for you and your company’s image).
Also, by now you will have a good idea on how to shift your job posting to attract the candidates who you want to apply. Not to mention being able to utilize your software to flag questions and eliminate those who are not qualified will save you precious time. Lastly, I want to leave you with this thought; the cost of a bad hire can be as low as 30% of their annual salary or as high as 300% of their annual salary depending on if they are hourly or salary.
If you’re interested in learning more about how you can use software to amplify your hiring process request a demo below and we’ll be in touch shortly.