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.
HIIT Us, Recruiters!
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).
Recruitment Automation: The Re-Humanisation of Recruitment
Bullhorn Engage has come and gone and there was a very strong theme. Recruiter Productivity.Sustainability.Profitability. For this to happen Bullhorn1st needs to be a goal – aka using Bullhornfirst in your recruitment workflow. Reducing reliance on data and external systems will decrease costs, speed up placements, and create a more robust recruitment business.And the way to Bullhorn1st? Recruitment Automation and Recruitment Training, of course!Recruitment Automation is So Yesterday!I started using the phrase CRM1st back in the early 2000s. It was borne out of working with 150 busy recruiters who were rapidly being exposed to huge data sets - LinkedIn, job boards, candidates who wielded the Apply button like a Scud missile. But they didn't have the discipline or process to strategically manage the massive increase in data volume or change in candidate behaviour.I used CRM1st (it was Adapt then) to help recruiters new to the recruitment sector to battle their FOMO (fear of missing out). I used CRM1st with experienced recruiters and resourcers to help them not get dragged under by rapidly increasing candidate pools.Have things changed in recent years?Have recruiters gotten better at managing their data, recruitment technology, candidate and client experience? Has the colleague experience improved now we have so much data and rec tech that should theoretically make recruitment easier....? Unfortunately, I'm not sure things have changed (enough).Recruiters have been running to catch up. But the faster they run, the bigger the data set becomes, the more competition they have (even from their own clients), and the more tech they feel they need just to stand still.Recruiter Frustration – Ready, Fire, AimI'm frustrated with the sector that can't seem to grasp what it's good at... Niche specialisms +Nurtured communities of candidates and clients reliant on great recruiters +Colleagues delivering best practice and making a difference, changing lives.But that "goodness" can't happen without focus.And how can a recruiter focus with huge data sets, too much tech and not enough process?Whether you have Bullhorn or another recruitment CRM, it needs to be first on your list to source, engage, nurture, and place from - if it’s not 1st, everyone loses. (Apart from the software company you buy comfort from!)Automation – The Re-Humanisation of Recruitment! Automation for my clients has become the missing link. It’s been around for years, but now automation is really being used to take away the pain, and the admin. Recruitment Automation is being used to drive the best of behaviours. It's enabling CRM1st (aka Bullhorn1st). It’s creating time for training – for all, not just new recruiters! And it’s creating time for trained recruiters empowered to get on the phone and do some good. Once you automate what you can, you can train what’s left – and what should be left is the gold in the recruitment process – humans! More effective sourcingSpeedier screening designed to prevent counter offers Interviews with clients who move to placement uninterrupted Placements and onboarding designed to generate referrals Recruiters need training on their systems and process so that can totally nail what their clients pay for. Automation creates space and time for this training to happen. Automation for my clients has become the missing link. It’s been around for years, but now automation is really being used to take away the pain, and the admin. Automate What You Can - Train What's Left If you can automate what you can, and train what's left, then your data, your database, and your 3Cs (candidates, clients, colleagues) will be in a really good place, perhaps even 1st place, for the rest of this year and beyond. What are you going to automate? What training is needed to deliver sustainable recruitment business? My team can help with both of these key goals.Talking of Recruiters Getting More Automated!...Using recruitment automation to improve data, process, candidates and client experience - that's a great goal! But you also need to free up your recruiters to be exceptional And they need training for this.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).TRY RECRUITMENT HIIT 7 DAYS FOR FREEREAD ABOUT OUR BULLHORN AND BULLHORN AUTOMATION TRAININGBOOK A CALL TO DISCUSS RECRUITMENT TRAINING
Recruiter Training - The Secret to Growing Your Recruitment Business
Recruitment leaders! I hear you when you ask... How can I help my recruiters be more productive? Why do they need so much tech and data? Why can't they just get on the phone?I have lots of conversations with recruitment leaders and their training teams – they want more productive recruiters, and less need to hire new staff – finding new recruiters is hard... But, 2/3 of recruiters who quit in the last 5 years said "you didn't train me to succeed", and meanwhile it costs on average £$€14k to replace just one recruiter! There’s no sense to these stats...So, we need to come up with a plan to get more out of your existing staff AND reduce the need to hire. 5 Stats to Prove Why You Need to Rethink Recruitment Training Your recruiters are likely time starved, drowning in dirty data and expensive systems they don't use. 72% of the candidates you placed last year were already on your system before you sourced them elsewhere. More shocking stats!In this current economic climate and competitive recruitment market you can't afford to suffer these stats - it's too risky. Here’s why you need recruitment training:94% of your team will stay longer if you train them.Continuous training can increase sales by 50%.A frequently trained recruiter contributes to 21% more profit.Continuous training boosts productivity by 30-40%.Effective use of recruitment systems can improve sales by 29%.Help Your Recruiters to Bill MoreTake a look at our infographic below. What do you need to improve to ensure your team achieves best practice, driving sales and ROI?How to Make Your Recruiter Your Coolest ToolOur high intensity interval training - Recruitment HIIT - helps recruiters and resourcers source, convert quicker and develop healthy pipelines, and helps marketers generate more of the 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!We’d love you to try Recruitment HIIT for free for 7 days.TRY RECRUITMENT HIIT 7 DAYS FOR FREEDOWNLOAD YOUR RECRUITMENT TRAINING PLAYBOOKBOOK A CALL TO DISCUSS RECRUITMENT TRAINING
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