One of the keys to success when it comes to recruitment is the effective use of data relating to your activities and applicants.
When you analyse this information, you can gain insights that will enable you to tweak your processes in order to maximise results – including monetary and time savings, as well as better retention and productivity from new hires.
However, gathering this data can be time-consuming and frustrating without a unified system in place. Thankfully, there's an effective solution to this: our Octo recruitment management software. Let's examine how analysing your recruitment statistics could benefit your company and discover how using Octo could help:
Collecting Data In HR – Why Is It So Important?
Hiring new employees can be a complex and costly process, so it's vital to ensure that your procedures are efficient and effective. The key types of information that you should be collating in order to do this are:
Hiring time – Identifying and fixing bottlenecks in your recruitment process could enable you to save time and money.
Applicant numbers – Track the number of applicants you receive for each role. This will help you recognise which adverts and recruitment sources are the most effective, adjust your recruitment messages to specific talent groups, test variants of job adverts, and plan recruitment strategies for different positions.
Conversion rates – Monitor the number of candidates who reach each stage of your recruitment process. This will enable you to work out whether you need to amend your job advertisements, application forms, interview questions, decision-making procedures, or onboarding procedures.
Recruitment costs – Keep track of your expenditure so that you can ascertain where savings can be made, and which aspects of the process are delivering the best value. Automating manual and administrative tasks, for example, or conducting more processes virtually, might enable you to cut costs.
The Benefits Of Using Octo Recruitment Management Software
Studying your HR data can help you make smarter decisions about your recruitment and onboarding strategies. You can increase the accuracy and relevance of your data, and reduce the amount of time it takes to conduct analysis and compile reports, by using the latest HR reporting software. When you utilise our Applicant Tracking System (ATS) solution, Octo, for example, you'll be able to see your key recruitment information at a glance, negating the need to use multiple data sources – or rely on internal stats from individual recruitment channels - when preparing HR audit reports.
Octo also has the following advantages:
It can collate and integrate large amounts of data automatically from multiple recruitment channels.
It has a user-friendly and responsive interface that works on all devices and Internet connections.
Its dashboard can be tailored to suit your needs, with customisable features and levels of access for HR colleagues, department heads, recruitment agency partners, candidates, new hires etc.
It can be integrated with popular third party HR systems, including Mitrefinch and Cascade, to make producing HR reports for management even easier.
Book A Free Demonstration Of Octo
The simplest way to see what Octo could do for you is to book a free demo, so you can explore the platform’s full capabilities with on-hand guidance from one of our tech support team. If you'd like to talk to one of our advisors about your company's specific needs in person, please call 0113 518 8181.