July was a big month for the Phenom Analytics team as they released some exciting features, such as:
Page Follows - Enables users to follow individual pages, receiving weekly activity updates directly to their inbox.
Jobs Report - Provides the ability to generate a detailed CSV or Excel report (10+ fields) on all job data within a specified date range.
Features like these are great, and they go a long way toward making Talent Acquisition teams more effective and tapped into data at a very intricate level. Outside of these two features, there's one other new feature I'd like to highlight: Job Category Analytics.
Job Category Analytics aggregates job data at the category level, providing high-level insight into the performance of individual departments within the organization. This means that instead of looking at hiring metrics by an individual requisition (i.e. Marketing Manager), Talent Acquisition leaders can take a more holistic approach and evaluate the entire category (i.e. Marketing).
Here are a few benefits to analyzing data at this level.
Mirror Successful Departments By segregating job data at the category level, we're providing Talent Acquisition teams an efficient means of analyzing performance metrics for individual departments within the organization. Using Phenom's sorting capabilities, they can quickly determine which departments are posting the most jobs, attracting the most visitors and converting the most applicants.
After identifying the top performers, it's time to evaluate their strengths. Understanding why the department is performing well is key to helping Talent Acquisition leaders replicate success.
Identify Recruiting Bottlenecks Sometimes, the more tactful approach to spreading success is not through capitalizing on strengths, but minimizing weaknesses. In this case, Talent Acquisition leaders can evaluate their departments and seek out the underwhelming performers to catch negative trends. If they can identify the root cause for poor performance, they can potentially save the company a lot of money by providing a solution. Examples of bottlenecks might be poor job descriptions, bad hiring managers or low mobile-apply conversions.
Strategic Job Advertising One of the key initiatives for every business is to maximize return on their investments. When it comes to job board utilization, Talent Acquisition leaders need to know which job boards are working and which are not.
For those of you that are current Phenom clients, job board analytics is nothing new. Granular-level data allows for even better decisions when it comes to maximizing ROI on advertising spend. Here are a few examples:
- Eliminate advertising costs on job boards with low conversion rates.
- Invest more advertising dollars in departments that are struggling to find quality talent.
- Reduce advertising spend on departments that have high organic traffic and don't necessarily need the additional candidates.