Labor expenses are typically an organization’s highest costs, which means making great hires is an issue of critical importance. To find the best people, first you need to know where to look.
Paycor Organizational Development Specialist Allison Flynn offers her insights on how to find candidates more strategically by analyzing where your new employees really come from.
Applicants have dozens of places they can go to find jobs these days. Whether it's a dedicated website, such as Indeed.com; a social networking site, such as LinkedIn; or live networking through a referral, applicants use multiple avenues to find employment.
When you track these sources and analyze them, you can get a good picture of where you should dedicate more resources, in addition to what might not be working for your organization. Take a look at the volume of candidates who apply through each source, as well as how many associates you’ve hired from each source. This kind of data can help you determine where you might need to focus your hiring energy.
On the other hand, you might choose not to devote time to posting and maintaining listings to, or paying for membership on, certain job boards that haven’t proven fruitful in the past.
You can parse your data by position and location to drill down further into finding the best source for hiring quality candidates per function or geographical area. You might find that LinkedIn is a more useful resource for one type or level of position, whereas referrals are a better source to tap into for other roles.
Also consider not only where you’re finding candidates, but which sources ultimately provide you the most actual new hires. For example, you might have had 92 people apply for jobs through Indeed.com, but you've hired only two of those applicants. Meanwhile, 60 people have applied through LinkedIn and you've hired 14 of those applicants.
Paycor’s Applicant Tracking solution can simplify the hiring process and allow you to capture and study data for your future planning. Applicant Tracking interfaces with multiple candidate sources and houses information in one database. Watch this 2-minute demo to see how Applicant Tracking can power your organization’s growth with the right people from the right places.
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