Metrics that Matter: How to Leverage Analytics to Make Data-Driven Decisions

In the beginning of the data revolution, recruitment teams struggled to compile enough data to make a real difference in strategic planning. Today, TA leaders have so much data at their fingertips that “analysis paralysis” can set in.

Suzi Mirchel, Product Knowledge Manager at Phenom, elaborates: “The challenge facing recruitment leaders today is how to use the right data to drive more efficient decision-making and optimize their talent strategy.”

This is where Phenom comes in. “Phenom integrates data from across the full talent experience to provide recruitment teams with end-to-end visibility, which lets them make efficient use of every single interaction they have."

Discover how AI-powered Phenom Analytics can help you focus on the right data to improve your talent experience: Watch the full session below, or read on for highlights!

Building Quality Pipelines

Focusing solely on increasing pipeline quantity is a surefire way to overwhelm recruiters with floods of applications to wade through. So, what are the metrics that really matter?

Phenom Analytics provides recruitment teams with data beyond just an application, so they can evaluate the quality of the talent being generated from various pipelines, traffic channels, sources, and campaigns. Because data is tracked across the entire talent experience, recruiters gain end-to-end visibility and can use that information to effectively promote their brand while building quality pipelines.

Phenom “provides recruiters with more qualified leads, letting them shift from asking if they should interview someone to who they should interview,” Mirchel explained.

Tracking Success

Phenom Analytics can track success at both macro and micro levels, helping you improve the quality of candidates in your pipeline. How does it work?

You can use Phenom to:

Track leads generated by individual job boards, resulting in immediate insight into each one’s performance and eliminating the need to wait for vendor reports
View how many leads came in, applied, interviewed, and were hired
Display stacked comparison of your job board performance and analyze and log expenses — resulting in informed decisions of which boards to invest in and which jobs to sponsor
Evaluate all marketing, social, and campaign efforts

Customer Story: How Micro Focus Uses Phenom Talent Analytics

Evaluating the Candidate Application Experience

Attracting candidates to your career site is certainly important, but how do you get them to stay in the pipeline? Three words: Ease of access.

Today, optimizing career sites depends on metrics beyond time on site and pages viewed. Candidates’ ease of access — the ability to find and apply to right-fit jobs — is a key experience driver.

“Bringing people in is only the tip of the iceberg. You have to keep them engaged and deliver a quality experience to develop loyalty and get them to convert,” Mirchel said.

With Phenom Analytics, you can evaluate your entire apply process from a candidate-centric perspective, using metrics to uncover:

Whether or not a candidate applies after viewing a job
Whether or not the chatbot is driving candidates to apply
Which job categories are most successful
Whether or not a candidate finishes a started application
Where drop-off may be occurring

"Let's be honest, no one likes job hunting. With Phenom you have the opportunity to deliver the right jobs to the right people instead of sending them on extravagant scavenger hunts around your career site," Mirchel said.

Analytics for Hiring Managers

Once candidates are in the funnel, recruitment teams must deploy strategies to move them through the hiring process as efficiently as possible — or risk attrition to competitors.

With Phenom, recruiters and hiring managers have transparency into all levels of the process, from individual job data, to outcomes of outreach efforts.

“[Recruiters] can use insights into where candidates are coming from to inform hiring manager conversations. This exposure lets them take more ownership by strategizing around what’s working and what’s not,” Mirchel said.

At the same time, hiring managers can focus on the bigger picture by using time-to-hire data, screening volume, and interview-to-hire ratios to evaluate ineffective recruiting methods or support specific teams.

“Time will always be of the essence,” Mirchel stressed. Let Phenom drive your informed decision making — and save you time — using the power of AI.

Driving CRM Usage

No manager wants hard-earned tech tools to go underutilized. Or, as Mirchel said, “you can lead a horse to water, but you can’t make it use the tools you give it.”

With visibility into CRM engagement and adoption, managers can see where usage might be lagging and take action to help recruiters better leverage the system. With the ability to view individual recruiter usage and performance, managers can identify power user champions and utilize their skills to influence adoption rates among team members.

And — ultimately — TA leaders can tie CRM usage to business outcomes.

Prioritizing Action and Feedback

Mirchel’s parting advice is clear: “At the end of the day, the metrics that are going to drive the most value for your organization are the ones that are actionable and provide a continuous feedback loop.”

In order to take effective action, you must continuously evaluate your data, upgrade and refine your strategies, and track inefficiencies to maximize outcomes.

Let’s move from assuming your strategy is working, to knowing it is.