Recruitment and Sourcing ROI
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If you look at the trends within recruiting on sites like Angel.co that are offering recruiter free job boards it shows that people find recruiters and sourcers less lovable than stockbrokers. Even though we are still more lovable then used car salesman its important that sourcers and recruiters put a little extra effort in communicating their value to their organization. As an internet or phone sourcer, you know the value you bring to the organization and to the recruiting team. It’s time that sourcers once and for all establish their recruitment ROI for the entire business and organization.
1) Create a monthly marketing report, and share it with everyone.
Every month you and your sourcing team should puts together slide deck of what was accomplished that month. That deck should includes high-level workforce and HR metrics on searches, candidates, and hires, as well as an evaluation of each recruiting channel (Linkedin, Cold Call, Referral, etc.). Every sourcer should get in the habit of evaluating and reporting on their own efforts, and sharing those findings with their company or clients. You’ll want to cover a few areas when evaluating these metrics, too:
- Celebrate the wins – “We hit a new record of candidates generated this month!”
- Admit the shortcomings – “phone screens to onsite ratios dropped this month due to the dramatic increase in volume.”
- Address how you’ll overcome the shortcomings in the future – “Next month, we’re focusing on key competitors only so our volume: quality ratio should be tighter.”
- Keep it visual. Use small bites and visual graphs to show your value and ROI to the organization.
2) Be Visible
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As the saying goes, “Out of sight, out of mind.” Sourcing is an often thankless role, akin to a Field Goal kicker or a goalie…managers really only notice if your having an off search versus noticing the other 25 your knocked out of the park.
3) Send weekly updates on active searches.
I am not referring to metrics reports. In addition do a short email once a week showing your thought leadership. What your learning from competitors that hiring managers and other team members might be able to benefit from. This will show your company your are not just a work horse but a contributor to the brain share.
4) Show Them the Money
Every time a hire is made from your sourcing initiative, that is a hire they didn’t have to go agency with. If you are making several hires a month, you should be able to document a solid ROI. On average I have been able to document around 30k a month in savings for clients. I am sure other sourcers have better number but its rare that clients or employers understand the ROI value of a solid producing sourcer.