So why do these three make success predictable? Interviews Generated: Candidates in front of clients is what everything from business development calls to candidate meetings to CV’s submitted all about.
All that matters is generating a certain number of interviews every week, month and quarter Interview to Offer Ratio: This is the number of meetings that need to be made to create an offer and becomes a ratio example 1 and 10.
This ratio makes you successful because you understand just how many people you send for interview end up with an offer in hand and thus have a chance of taking the job.
Offer to Passing Probation: This one is actually fundamental to building long-term relationships with clients and indeed candidates. It makes you successful because it outlines just how candidates you get to offer who stay at the company long enough for you to keep your job.
Using these Ratios to predict success
So how do you use these ratios and KPI’s to promote your recruitment business at or desk successfully?
Firstly, decide how many placements you want to make a month. This could be determined by a financial target or just a simple number like three placements. For our example, we are looking for 2 interviews.
Secondly, you need to understand your offer ratio to a candidate passing probation. The best way to figure this out is to do some digging over the last 18 months, find out how many candidates passed probation and how many offers you generated. Divide offers by candidates passing probation. So for our example, we have a ratio of 3:1 (three offers for one passing placement probation).
Thirdly, you need the ratio of interviewed candidates to offer made. For this delve deep into your stats and find the number of interviews generated over the last 18 months and divide it by the name of offers. In our example, we have a ratio of 10:1 (ten candidates interviewed for one placement).
Lastly, bring it all together. Take your goal times it by the number of offers and then times it by the interviews to get the total number of interviews generated.
In our example Goal:
2 placements per month Offer to Placement Passing Probation:
3:1 Interview to Offer:
To generate for 2 placements is 60 interviews or 15 per week or 3 per day.
Use the method above to focus your goal for each day. That way if you produce three interviews per day (as in our example) you will end up each and every month hitting your placement target. As ever we would love to hear what you have to say.
Feel free to email firstname.lastname@example.org about your thoughts on this or any other topic.
The Naked Recruit is funded through our affiliate link program with Acuity Scheduling. It is a tool that has saved me dozens of hours. Check out Acuity
Thank you for reading this Recruitment Hack. You can get a daily Recruitment Hack sent to your inbox by visiting Recruitment Hacks.
The Book: Recruitment Hacks is now available on Amazon.