Staffing firms routinely use digital information and analytics programs to access vital data and statistics, and there’s a reason for this: Representatives of these firms can gain insight into future trends while also learning from past practices.
Analytics enable staffing firms to:
- Measure ROI
- Track the effectiveness of marketing campaigns
- Make important business decisions
And that’s really just the beginning.
By integrating an Applicant Tracking System (ATS) and Customer Relationship Management (CRM) system, a staffing firm is privy to combined information covering a vast array of business processes while gaining a better overall view of the business as a whole. In order to stimulate lead generation for candidates and build strong client relationships, staffing firms must take advantage of statistical feedback and adapt to changing trends; into this foray have come real-time, historical, predictive and website analytics – all of which help demonstrate the importance of staffing analytics and reinforce how vital data is impacting the staffing industry.
The Impact Vital (or “Big”) Data Has on Staffing Analytics
In order to gain insight into the effectiveness of their recruitment processes, the marketing efforts of staffing agencies must leverage what is known as “big data.” This vital information enables recruiters to initiate lead generation for candidates, decrease the necessary time for filling open requisitions and improve their productivity. By making big data a part of its marketing, a staffing agency can more accurately track cost-per-replacement and forecast new business – in fact, when used correctly, staffing analytics help agencies become more competitive and ultimately achieve success.
A Brief Look at the Different Types of Analytics
- Historical – As its name suggests, historical data allows staffing firms to learn from the past; these metrics are an ideal way to identify important patterns and trends within a staffing agency and set benchmarks for future growth.
- Real-Time – Critical business decisions demand real-time data and illustrate the importance of staffing analytics; real-time staffing metrics paint an accurate portrait of how a team is performing and points out where there’s room for improvement.
- Predictive – Through predictive analytics, a staffing organization can anticipate future staffing industry marketing trends while streamlining recruiting practices via encouraging lead generation for candidates.
- Website – The marketing strategy for a staffing firm must utilize website statistics to gauge how visitors are interacting online. Are potential candidates reaching the website through online searches? Are visitors discouraged by broken links or difficult-to-use site navigation?
Here are the key takeaways regarding the importance of staffing analytics:
- Big data allows staffing firms to make informed business decisions and achieve success.
- Historical analytics provide valuable data, allowing staffing agencies to learn from past practices.
- Real-time analytics demonstrate the effectiveness of current efforts and identify areas that are in need of improvement.
- Predictive analytics are helpful in setting long-term goals and making business decisions with regard to resource allocation.
- Google Analytics can be used to improve the interaction between visitors and a website.