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.
Our recruitment community loves our Adapt, Bullhorn, Inbound Sales LinkedIn, Bullhorn and Job Adverts recruitment training hacks. Click the links to get more, and sign up to our Recruiter Hacks Newsletter to receive them as they are published.
HIIT Us, Recruiters!
Our high intensity interval training (Recruitment HIIT) helps recruiters source, convert quicker and develop healthy pipelines. Recruitment HIIT is an exciting recruitment training platform for recruiters to speedily learn skills to be more successful with Adapt, Bullhorn, LinkedIn, Job Adverts, Inbound Sales, Digital and Email Marketing. Try Recruitment HIIT for free, or arrange a call with me - press one of the magic buttons below.
Kevin Green: Recruitment Leaders Against Recession and Coronavirus Podcast
As a recruitment leader you're likely having to make some drastic decisions for drastic times. For those of us who have been through a recession, we know that this is different. There's more to think about, more government help, more variables, more questions than answers - and there is no rule book for this. This is why I'm delighted that this Recruitment Leaders' Podcast has a guy called Kevin!Kevin Green ran the REC for 10 years, and has perspective on recession, how to run a profitable recruitment agency, and how to be a sane recruitment leader.He has evolved as HR Director at Royal Mail – to the Chief Exec of the REC – to now a Non-Executive / Strategy Director / Public Speaker for recruitment firms and “mere mortal” non-recruitment businesses with his What's Next Consultancy. He has also written a book called Competitive People Strategy.Coronavirus and Recruitment Leaders Staying SaneAs part of my Recruitment Leaders’ podcast, I grabbed some airtime with Kevin and discussed 4 things about the recession, how the Coronavirus is affecting recruitment, and recruitment leaders staying sane.I asked him:What are the differences for recruitment leaders, in the 2008 recession and this 2020 recession? And how will this affect us in 2021 and beyond?How will the agency recruitment market change as a result of this recession and the Coronavirus?Are there ANY positives about what is happening right now?What specifically do you need to do to manage your business through this time? And what should you do for yourself?This is indeed a massively painful time for recruiters and their leaders. Listen you this 30- minute recruitment leaders podcast – give yourself that time to think about where you are, what you want, and how you’ll get it. It's a fascinating listen, with some very useful takeaways and a pep talk for recruitment leaders who need an ear.Listen to Kevin Green on our Recruitment Leaders' PodcastListen and subscribe to the rest of Barclay Jones’ Recruitment Leader Podcast Series or find us on iTunes!HIIT Us, Recruiters!Our high intensity interval training (Recruitment HIIT) helps recruiters source, convert quicker and develop healthy pipelines. Recruitment HIIT is an exciting recruitment training platform for recruiters to speedily learn skills to be more successful with Adapt, Bullhorn, LinkedIn, Job Adverts, Inbound Sales, Digital and Email Marketing. Try Recruitment HIIT for free, or arrange a call with me - press one of the magic buttons below.TRY RECRUITMENT HIITREAD ABOUT OUR RECRUITMENT TRAININGBOOK A CALL TO DISCUSS RECRUITMENT TRAINING
Improving the Value of Your Recruitment Business with Greg Savage Podcast
Recruitment leaders who want to get ROI from their recruitment tech, have marketing deliver viable candidates and leads, and make sure that their recruiters are super-productive, need to listen to this recruitment podcast…Oh! And if as a recruitment leader you are looking to hire more recruiters, this podcast has a couple of great ideas to help you with your own recruitment strategy. Straight Talking - No Messing - Advice for Recruitment LeadersDo you know the value of your business?A buyer will typically be looking at 60-70% of profits coming from temporary or contract recruiting. Do you know how many of your recruiters quit last year simply because they did not have the training to do their job?Do you know what your marketing function should be doing to generate the 4Cs? (Candidates, clients, colleagues, and cash?)In this episode of the Recruitment Leaders’ Podcast, I'm delighted (understatement!) to be talking to Greg Savage. He offers some "straight talking - no messing - advice for recruitment leaders who want to be more successful".I talked to Greg about:What are the main changes he feels have happened in the recruitment industry?What are most recruitment leaders doing differently at the moment?Where is the “danger”?What are investors who are looking to buy your business looking for?What does he think of permanent dominant-recruitment businesses?What could add the most value to your recruitment business? And devalue it?How can we attract the best recruiters?What 3 things are crucial for recruiters to be trained in?What are the three skills every recruitment leader is going to need in the next 3-5 years?This is seriously one of my favourite recruitment leader interviews and I think every recruitment leader (current or budding) will benefit from spending 30 minutes listening to this and planning their strategy.We talked about how there isn’t enough process around recruitment CRM systems. Listen to this episode of the Recruitment Leaders' podcast to hear more.And for recruitment marketers who want to demonstrate and deliver ROI from their marketing efforts, check out our blog post on connecting recruitment sales and marketing.Listen to this Recruitment Leaders' Podcast!Thanks, Greg, for being such great guest on my Recruitment Leaders’ Podcast.Listen and subscribe to the rest of Barclay Jones’ Recruitment Leader Podcast Series on SoundCloud or find us on iTunes!HIIT Us, Recruiters!Our high intensity interval training (Recruitment HIIT) helps recruiters source, convert quicker and develop healthy pipelines. Recruitment HIIT is an exciting recruitment training platform for recruiters to speedily learn skills to be more successful with Adapt, Bullhorn, LinkedIn, Job Adverts, Inbound Sales, Digital and Email Marketing. Try Recruitment HIIT for free, or arrange a call with me - press one of the magic buttons below.TRY RECRUITMENT HIITBOOK A CALL TO DISCUSS MARKETING TRAININGREAD ABOUT OUR MARKETING TRAINING
The Adapt Playbook