Tracking analytics is pivotal in gathering and interpreting the data necessary for making informed recruitment decisions. It improves the accuracy of candidate evaluations and provides real-time insights and quantifiable return on investment (ROI) metrics.

According to the Future of Recruiting Report by LinkedIn, 87% of recruiting experts find talent attraction to be more strategic than ever. Gartner's insights reveal that 36% of recruitment leaders find their talent-sourcing strategies inadequate in meeting skill requirements.

Their solution? A focus on cultivating intelligence-based sourcing capabilities.

inploi empowers recruiters by offering a comprehensive view of their hiring funnel. It serves as a single data source, eliminating the complexities of managing multiple data points and resolving analytical discrepancies. It provides valuable insights into the ROI and effectiveness of talent attraction strategies.

Let's explore the significance of measurable ROI and the role of inploi's technology in assisting businesses in leveraging essential recruitment metrics.

Leveraging Relevant Metrics to Quantify ROI in Your Recruitment Process

Successful recruitment involves quantifiable results, where numerical insights and experiential knowledge intersect. Understanding metrics like candidate drop-off rates, cost-per-hire, and cost-per-application is therefore vital.

Additionally, analysing recruitment channels, campaigns, and media platforms yielding the best outcomes is essential to optimise recruitment efforts. This knowledge facilitates informed decisions regarding the identification and engagement of suitable talent effectively. It also aids in monitoring the candidate/applicant journey until conversion and ensures successful onboarding, thereby preventing erroneous selections.

A recent report by McKinsey underscores the significance of people analytics, revealing that organisations extensively utilising such data witness an impressive 80% rise in recruiting efficiency, a 25% boost in business productivity, and a 50% decrease in attrition rates. This data-driven approach highlights the importance of leveraging metrics to measure ROI, sidestep recruitment pitfalls, and ultimately refine hiring strategies.

Enhancing Hiring Strategies with Data-Driven Insights: inploi's Approach to Measuring ROI through Tangible Metrics

inploi's innovative HR technology assists businesses in saving time and effort during the hiring process, helping enterprises gain crucial insights into the effectiveness of their talent-attraction endeavours.

With inploi, you can:

• Analyse job-level analytics and reports to assess application flow performance and key page interactions, besides gaining valuable insights into user demographics, geographical distribution, devices used, and high-engagement pages.

• Access high-level views to monitor overall performance and gauge impact for deeper insights into campaign and job performance.

• Secure multi-user access by adding team members to your dashboard with user-level permissions to ensure your team can access the tools they need while keeping your data secure.

• Enhance your career sight while leaving feedback and requesting changes within our centralised feedback tool.

• Utilise our advanced reporting feature for richer data and tailored analysis, like segmenting applications by region or job filters.

• Enhance ad targeting by leveraging data from successful hires and optimising your approach to reach suitable profiles more effectively.

• Access comprehensive insights into talent acquisition and candidate experience, all within your inploi dashboard. Utilise this data to evaluate your cost-to-hire and make crucial recruitment decisions supported by data.

• Review campaign performance reports, automated expense tracking, and attribution to understand the impact of media spending on job applications.

• Gain a holistic view of paid and organic channels, including metrics such as job views, cost per acquisition (CPA), and total expenditure. Attain a thorough understanding of talent acquisition performance, empowering data-driven choices for your team.

What sets inploi's adaptable HR tech apart is our ability to track metrics like cost per hire and cost per application. This helps businesses make recruitment decisions with informed insights. We enable you to centralise data and boost decision-making confidence by offering a comprehensive view of attraction, conversions, and job ad placements.

inploi also provides benchmarking, forecasting, and customisable reporting, ensuring data-driven decision-making. Seamless integration with existing ATS systems and market intelligence from dedicated data scientists further enhance recruitment processes.

With inploi's comprehensive reporting and analytics solutions focusing on key metrics to quantify ROI, Wagamama, a UK restaurant chain, experienced a 30% decrease in cost per hire. Similarly, Compass Group UK&I achieved a 47% reduction in cost per acquisition for critical roles.

Harness intricate analytics for precise recruitment decisions and supercharge your hiring strategy. Speak to our team today to learn more.