Last month, we discussed the importance of examining Lead-to-App data: Read that here. This month, we’re taking the obvious next step and discussing App-to-Hire data. There will be more math.
Companies can measure their App-to-Hire KPI (key performance indicator) simply by finding the ratio of applicants to the number of people hired for that position or the hires divided by the applicants to find the conversion rate.
For example:
Ratio: 10:1 (every ten applicants result in 1 hire)
or
Conversion Rate: 10% (divide the hires by the applicants)
Now that we’ve defined what it is, let’s examine how you can use App-to-Hire data to improve your team’s performance. We will look at the same three areas discussed in our Lead-to-App article, but now we are further along in the hiring process:
Applicant Intent
For App-to-Hire, we now know the applicant’s interest has grown beyond your initial offer (ad). They’ve displayed more effort to learn about your company and taken a critical step to show you their intent. But don’t forget, they may be showing other companies this intent as well.
Lead Quality by Source
Now that you have a full application and that “intent” signal is triggered, look at the quality of your individual hiring sources. If hires are coming from a source at a high conversion rate, this source has an audience built for your fleet.
Performance by Recruiter
Gauging performance per recruiter after an application is received will offer a solid KPI. You’re likely to identify salesmanship, a standard of excellence, and prioritization skills. Does your SOP have you prioritizing your full apps over short forms?
If you haven't looked at all these areas, we encourage you to do so right away. It will have you considering your data in a completely different light and may even uncover an area for improvement you didn’t know you had.