The recruitment landscape has become more complex in recent years. The rate of globalization has risen, the ebb and flow of the labor market has become more unstable, and remote work has become several times more common. For these reasons, digitization in human resources is more important than ever.
To better control the hiring process, employers are leveraging recruitment dashboards. Typically, these dashboards are integrated with an applicant tracking system or HR software.
A recruitment dashboard is a visual display of the company’s most crucial recruitment metrics and key performance indicators. Using a data-driven approach, the dashboard tells you how well you’re meeting your recruitment objectives.
Built to address recruitment and hiring concerns
The dashboard lets you analyze key aspects of your recruitment and hiring processes, including the following:
- Open positions.
- How long it takes to hire for a position.
- Number and quality of applicants per job.
- Efficacy of job posting channels.
- Source of hire.
- Cost per hire.
- Candidate engagement.
- Offer acceptance rate.
- Onboarding efficiency.
- Alignment of job description with actual job duties.
- How well new hires are performing in their roles.
- New-hire satisfaction rate.
- New-hire attrition and turnover rates.
- Compliance with recruitment and hiring laws.
Analytics for improvement
A recruitment dashboard lets you not only analyze established metrics and key performance indicators but also detect deficiencies in your recruitment funnel and devise strategies for improvement.
For example, the dashboard provides access to:
- Engagement data, which shows you how job seekers and applicants interact with your career website. The results may indicate the need for enhancements of your career website or your online application process. Based on traffic data, you can also decide whether to increase your career website’s visibility.
- Recruitment costs, which helps you track recruitment and hiring spending, determine return on investment, and control expenditures to stay on budget.
- Quality of hire, which lets you gauge the value that new hires bring to your organization. You can use this information to develop effective screening, interviewing and hiring processes — and, most importantly, avoid bad hires.
Customizable, actionable and accurate
Your recruitment dashboard should cater to your unique business objectives. In other words, it should allow you to develop metrics and KPIs that are relevant to your recruitment and hiring needs. It should draw from your defined metrics and KPIs to deliver the data you need. This data may come in the form of pie charts, tables, charts, graphs or other visual aids.
A well-designed recruitment dashboard is actionable as well. In other words, it alerts you to glitches in your recruiting matrix so you can take corrective measures. It also gives you accurate information that enables you to make reliable, strategic business decisions.
If you’re collecting and analyzing recruitment data via outdated methods like spreadsheets, it’s time to consider investing in a recruitment dashboard.