Recruiters spend a fortune on LinkedIn - either in time or cash! Both is great if they can demonstrate ROI from LinkedIn. But the recruitment industry is not known for focusing on ROI from recruitment systems - being focused on the placement means that often recruitment leaders are left frowning at end of year at the costs associated with running a recruitment business. This blog highlights some ways to measure the ROI from LinkedIn.
We’ve been talking a lot lately about what recruitment leaders should stop doing; how they can STOP messing up their critical job adverts and START getting real, decent applicants, as well as how marketers need to STOP delivering tactics instead of strategy.
A theme which links all of this together is my new acronym:
FORMO – Fear of Recruiters Missing Out
We have become a generation of tech / app / extension / data proliferation and the process is screwed up. This has never been more so than with LinkedIn Recruiter (RPS Licence). I’ve written before about how recruiters do not expect ROI (return on investment) from LinkedIn. I often see this when I work with recruiters to help them confidently purchase / renew the licence.
Yes, they have the LinkedIn Recruiter training to get the ball rolling. Yes, they run the reports on usage… but they often don’t analyse data what I feel is critical to seeing ROI. They also don’t check in with recruiters and how they plan to implement their LinkedIn Recruiter Licence.
When I work with recruiters, I’m not into ‘wham, bam, thank you ma’am’ training. I’m into ROI. It’s sustainable and as cheap as chips!
70 20 10 – Recruiters Only Retaining 10%?
Imagine if you studied your client and talent (and staff) retention figures and realised that you were at 10%? You’d faint, scream, hide… But as humans, there is the theory that we retain 10% of the training we receive and the rest is a split between watching others and on the job challenges. I’ve been in training in some form or another for 20 years and I totally agree with 70 20 10 training this theory.
Aiming to Get (at Least) 100% ROI from LinkedIn Recruiter
Why is it that we often only “do the math” at the end of the day? We often use finance figures from previous activity. We look back at last month and what do we do differently this month? We possibly don’t have enough predictive analysis to help us predict success (or failure).
I often get told by recruiters that they need help understanding how to measure ROI from a LinkedIn Recruiter Licence and waiting on placement data is too long a wait (AND this assumes either success or failure, rather than a journey which needs constant management and focus).
Here are some data points I feel are critical to helping you understand the ROI of LinkedIn Recruiter:
LinkedIn Recruitment Company Page Metrics:
LinkedIn Company post Impressions
LinkedIn Company page followers
LinkedIn.com Recruiter Profile Metrics:
Followers not connections
Number of Connections
Weekly profile views
LinkedIn Recruiter (RPS Licence) Metrics
LinkedIn Recruiter Usage and Success:
InMail Acceptance Rates – I would clarify that this needs measuring against sends/ declines too
Activity – LogIns/Searches/Profiles Viewed/In-mails sent – plus projects and alerts setup
Recruitment Website Metrics:
Hits to Website from LinkedIn and which pages were the most popular
Flow to website and applications – I would add referral rates in Google Analytics
Recruitment CRM Metrics:
Placements – Value by month – have a think about LTV too (life time value)
Opportunities – In CRM with LinkedIn as source
Leads – In CRM with LinkedIn as source
Candidates / Contacts – source = LinkedIn
You don’t need me to tell you that buying a system, especially LinkedIn Recruiter, is not the goal – using it “well” and happily paying the invoice is the goal. Saying “of course we’ll renew” to LinkedIn is a great statement to make, as opposed to FORMO.
Your FD telling you that you’ve spent a fortune on tech just to stay the same, is not what you want to hear at year end.
Telling your clients that you have every bit of tech going and still you’re having issues finding talent is not a sales pitch, an excuse or even a USP.
Stop waiting for placements to happen / not happen before you measure ROI. Habits will have been formed and the system perhaps devalued by then.
Start to measure the effectiveness of your LinkedIn Recruiter licence and take action (Recruitment Training) on how effectively and successfully it is being used.
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Bullhorn1st: Monetise Your Data and Bullhorn CRM
Recruiters! How can Bullhorn help you generate more fees, commission, and profit? As well as a better work-life balance? You need to ensure that Bullhorn is your first system for sourcing, nurturing, and placing, as well as reducing your reliance on other systems. We call this "Bullhorn1st".Driving Effective Recruitment Processes with Bullhorn1stEffective use of your Bullhorn CRM can boost sales by 29% and productivity by 34%. You need to use Bullhorn to drive your recruitment processes and sales. What impact would a Bullhorn1st driven recruitment system have on your recruitment business?How much time could you save?How many more placements could you make?How much more commission could you earn?Look At Our Bullhorn Training and Adoption Infographics BelowThink about where you want to be at the end of 2022:How can you get your recruiters working with a "Bullhorn1st" approach?How can you reduce your reliance on other tech which takes your team outside of Bullhorn?How could you improve the value of your data?How could you improve your candidate, client, colleague experience, and thus significantly strengthen your recruitment business if you really nailed how you use Bullhorn?An effective Bullhorn system could help drive your recruiter goals this year. Which of the stats below apply to you, and which ones do you want to "fix"?Bullhorn 1st Training: Conquer the Candidate Shortage and Train Your Recruiters to Sky Rocket SalesBullhorn 1st Discovery: Clean Dirty Data and Generate ROI from Your Bullhorn SystemCould you save your recruiters 30 days a year, so they can bill more? Or maybe hire less recruiters?Recruiters need more phone time, reduced admin, cleaner data - to mention a few. You need to focus your recruiters on the tasks that will help you drive a sustainable recruitment business. How? Focus on your coolest tool - the recruiter! Download Your Recruitment Training Playbook to find our top tips for driving your 4Cs – candidates, clients, colleagues and cash!HIIT Us, Recruiters!Our high intensity interval training - Recruitment HIIT - helps recruiters and resourcers source, convert quicker, and develop healthy pipelines, and recruitment marketers attract, engage, and retain candidates, generate clients, and colleagues (3Cs).We aim to save every recruiter and marketer at least 1 hour per day (6 working weeks a year)- more billing time, more fees!TRY RECRUITMENT HIIT 7 DAYS FOR FREEDOWNLOAD YOUR RECRUITMENT TRAINING PLAYBOOKBOOK A CALL TO DISCUSS BULLHORN TRAINING
Recruitment Automation: Less Content, more Recruitment and Sales
Going into the 2022 recruitment marketers need to focus on candidates, clients and colleagues, not colour, clicks and copy. How can you develop a sales-led recruitment marketing strategy using recruitment automation to generate real ROI?You need to develop a content and recruitment automation strategy that doesn't waste your time and serves the purpose of proactively driving your sales and talent pipeline, rather than simply filling your day with pointless content creation!Driving a Sales Led Marketing StrategyOn November 18, Lisa spoke at the Recruitment Marketing Congress on the topic 'Recruitment Automation: Less Content, More Recruitment and Sales.'Lisa believes:Recruiters and their marketers need less content, more marketing, and smart automation.Watch Lisa's Talk on Less Content, More Recruitment Sales at the Recruitment Marketing CongressTalking of Driving Recruitment Sales...Could you save your recruiters an hour a day, and make an extra £18,750 a year (or £187,500 if there are 10 of you?)Our high intensity interval training - Recruitment HIIT - helps recruiters source, convert quicker, and develop healthy pipelines, and recruitment marketers attract, engage, and retain candidates, generate leads, and colleagues (3Cs).WATCH THE RECRUITMENT MARKETING CONGRESS WEBINAR HEREREAD ABOUT OUR MARKETING TRAININGBOOK A CALL TO DISCUSS MARKETING TRAINING
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