Recruitment Funnel Effectiveness

Recruitment funnel effectiveness

Recruitment funnel effectiveness can be described as a structure that helps recruiters in their recruiting process from beginning to end. The recruitment funnel helps in attracting and then evaluating the employees up to finding and hiring the top talent. Hiring a suitable candidate can be a difficult job.

Table of content  

• Stages
• Measuring recruitment funnel effectiveness
• Conclusion

The funnel recruitment is divided into the following stages-

• Awareness
• Interest
• Application
• Evaluation
• Interview
• Offer
• Acceptance

All these stages serve a unique purpose in filtering out the candidates to hiring the top candidates.

Recruitment Funnel Stages

Evaluating on these stages-

• Awareness

  “Attracting potential candidates”

  This is the stage of making candidates aware about a certain job opening. This could be achieved through different channels such as social media, hiring platforms such as LinkedIn, referral programs, etc.

  The job description should be engaging and interesting for the candidate to be persuaded by it.

• Interest

  “Engaging with the candidate”

  This stage refers to the candidate’s interest in knowing about the job opening and description, further, the employer maintaining the interest of the employee by answering queries and describing the work culture, opportunities, benefits, etc. all the while remaining polite. This may help in maintaining and building the candidate’s interest.

• Application

  “Efficient application process”

  Upon reaching the application stage, the candidates start applying for the job opening. The companies must use a simple application process for the candidates to apply. If the process for applying is complex, candidates may not be able to successfully apply for the opening. Ensure the application process is not too lengthy, complicated, and user-friendly.

• Evaluation

  “Shortlisting of the candidates”

  This stage refers to filtering out candidates from the pool of candidates that applied for the position. It is done by assessing the applications and then shortlisting the candidates. Companies use assessment and screening tools to filter resumes based on skills, experiences, etc.

• Interview

  “Assessing the candidates”

  The interviews are conducted to further ensure if the candidate is eligible for the position. The employer must conduct interviews in all fairness to the candidate and adjust accordingly. The interviews can be conducted online or in person, depending upon the situation and the geographical conditions.

• Offering

  “Extending the job offer”

  Upon selecting the best candidates, it’s time to extend the job offer. After finding the desirable candidate, it is the duty of the recruiter to extend competitive offer to candidate that makes them feel valued.

• Acceptance

  When the candidate accepts the job offer, the process of onboarding begins.

Measuring Recruitment Funnel Effectiveness

Recruitment funnel effectiveness can be measured in the following stages-

• Quality of hire

  The goal of the recruitment funnel is to hire quality candidates. This measures the value that employees bring to the company.

• Time to hire

  Time to hire refers to the time from when the recruitment process starts, to the date of hiring.

• Cost per hire

  The entire expenditure for locating and employing applicants is known as the cost per hire. This measure can help determine how many people are hired for a given position. It can also serve as a standard for upcoming hiring strategies and budgets.

• Source of hire

  Organizations can determine if they should hire outside agencies and conduct recruitment through a source-of-hire statistic. For instance, a corporation is hiring for five roles.

  While the agency filled only one post, the internal team may fill four of the five. The internal hiring team performed better in this instance.

Conclusion

In essence, recruitment funnel has 7 stages namely Awareness, Interest, Application, Evaluation, Interview, Offer, and Acceptance. If the potential employee is nurtured well throughout the stages, as a recruiter you would be able to positively impact the major metrics.

For example- time to hire can increase if the candidate you share the offer letter with rejects it in the end because the other company’s recruiter was consistently in touch with the candidate showing their culture and clearing the doubts.

So, keep sharing content and talking to the employees through every stage.
All the best!

FAQs

• Why is hiring funnel important?

  The significance of a hiring funnel is in its ability to offer an organized and effective method for drawing in, involving, and choosing exceptional candidates. It facilitates data-driven decision-making, guarantees consistency and justice, and enhances the applicant experience.

• How is the recruitment funnel calculated?

  Metrics such as the quantity of applications, the screening of candidates, the conduct of interviews, the extension of offers, and the number of recruits is tracked at each stage to determine the recruitment funnel. Finding conversion rates and streamlining the procedure are made easier by analyzing these indicators.