You’ve probably already created your sales strategy for the year but have you put much thought into hiring for the next 12 months? Far too often companies use hiring as a reaction to other activities in the business. Instead, there are some metrics you should evaluate for 2015 to give you better insight on the year to come. Here are things to keep in mind.
Recruitment sources and values.
Where are you finding your most successful candidates? If the job boards are no longer yielding qualified individuals it may be time to cut that cost and focus on the resources that are working best for you.
Time between advertisement and hiring.
How long does it take for you to bring a new employee on board from the time you first start searching? This is indicative of your hiring process. If you are taking too long you risk losing out on great candidates. If you hire too quickly you risk hiring the wrong person. You may need to evaluate your processes to ensure the right choices are being made.
Companywide turnover rates.
How many people leave your company in a year? How long have they worked for you before they do? What are their reasons for leaving? It is extremely important to track this information so you can ensure that your staff is satisfied and engaged.
The number of people hired versus applications.
When you are looking for new employees, how many applications do you have to process before you make a decision? Start with the number of resumes received. Then count the number of candidates you initially contacted. Then the ones you interviewed.
Retention of employees.
For the employees who are loyal to your company look at the reasons why they stay. What is their level of satisfaction? What kind of incentives do you offer for continued employment and excellent performance? It may be time to evaluate your options.