What are the ingredients for successful and sustainable recruitment? To answer that question, we have to go back to basics and look at things from their roots. Of course, there is no denying that effective collaboration between recruiters and hiring managers, seamless candidate sourcing, and concrete relationships with candidates are all key factors for successful talent acquisition.
However, all those mentioned key factors are not enough to ensure successful hires in the long run. You need to be able to go back and see what works and what doesn’t during the process.
Accurate insights into how your team has operated, what went wrong, and what went right will help you evaluate the quality of your recruitment and ensure that past mistakes will not jeopardize your recruitment strategies again.
This is where data analytics and reports step in as a solution. These reports provide you with useful information, details, and activities throughout the recruitment pipeline of the work process that you might have overlooked.
Where do you get these reports? Well, it’s not so hard for some today, as many digital tools available on the market come with basic analytic tools that are able to generate insightful and high-quality reports. Many of them include the number of job openings, the number of candidates in each stage, the time to fill per opening, and more.
Among innovative tools out there, Applicant Tracking System or ATS is a resourceful recruitment tool that is able to generate recruitment reports while streamlining the hiring pipeline and easing the workload of its users.
Now, before you jump out of the chair and throw the first ATS you see into your shopping cart, be noted that all ATS are not made equal. Some might come with different kinds of reports that may or may not help you improve your future process.
To help you make a better decision when it comes to picking the right tool and improve your recruitment efforts with high-quality reports, let’s take a look at the benefits of reports, the issues that could occur should you go on without sufficient reports, and the four reports you need to have in an Applicant Tracking System.
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What Are the Benefits of Reports for Recruitment?
According to PwC’s HR Tech Survey of 2022, one of the top 10 challenges in recruitment nowadays is insufficient HR insights and data analytics. And the promising answer to this issue is ‘data-driven recruitment.’ Recruitment data and metrics help you improve the recruitment process and make smarter decisions when it comes to searching and hiring the right candidates.
However, without any tools, collecting and processing these data is a time-consuming activity. Although tracking and collecting data via a spreadsheet is a good idea, it requires some heavy manual work. Plus, human error could step in and leave you with an inaccurate or false set of data.
With an innovative tool such as Applicant Tracking System, you will have no need to sweat yourself out of the heavy manual work of endless data collecting. You will be able to sit back, relax, and watch efficient hiring orchestrate smoothly from end to end while the platform stores all the important data and exports it as reliable reports.
Let's scroll down and see how these reports can bring efficiency to your recruitment.
See What Worked and Learn from the Past Mistakes
What have you and your team done in the past project? What went right, and what went wrong? These key factors provide you with an opportunity to become better in the next recruitment. But without a tool like an Applicant Tracking System, you won’t be able to monitor activities throughout the pipeline and store crucial data.
If things turn out well, it would be impossible to follow the same practice. If things went south, again, you would never be able to identify the cause of problems and eradicate it precisely where you should. You would never be able to find the answer to ‘why the last recruitment was successful or failed?’
By showing every single activity throughout the recruitment pipeline, reports help you identify problems that occurred during the recruitment process. You will be able to see what went wrong, get right to the core of the problem and develop the best solution to eliminate those false steps quickly.
At the same time, all the right steps that you or your teammates made during the process will be recorded. This allows you to replicate the same formula and ensure successful recruitment in the long run.
Making Sure of Good Candidate Experience
Good candidate experience leads to a good perception of an employer’s brand. Therefore, other than identifying the right talents and placing them in empty seats as quickly as possible, one of the key goals for recruiters is to provide a pleasant hiring experience to candidates. To accomplish that, you need to be able to orchestrate a seamless hiring process.
Going through the hiring pipeline without the ability to track or record every step, you will never be able to know which part gives candidates dissatisfaction. It could be disconnected and inconsistent communication or a long pause in some steps - whatever the reason, the issues will be difficult for you to pinpoint.
If you don’t have visibility of the problem, you won’t be able to effectively prevent it from happening again. It is not so difficult to forecast a poor candidate experience and a bad employer’s brand perception as an outcome of your future projects.
Reports help you maintain an excellent reputation in the eyes of prospective candidates and clients by precisely detecting fault steps in every stage of recruitment. Ensuring that you’ll be able to improve the process and provide second-to-none candidate experience in future projects.
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Predict the Future Hiring Needs
What kind of talents do you need to fill in your clients’ open desks, and how many of them do you need to recruit? The answer to these questions determines the hiring needs of your customers and sets the tone of your recruitment.
Under the constant state of flux in recruitment trends, hiring needs are also constantly changing. Companies are always looking for different types of talent each year.
For instance, the current rise of technology and the digitalization movement have created a demand for IT professionals. Internet Data Center forecasted that the overall investment for information and communications technology from 2021 to 2023 would expand by over 5%.
Recruiters must follow the trends and prepare themselves for changing hiring needs to cater to the demands of their hiring managers in order to discover and acquire the right talents at the right time. Without reports from a tool like an Applicant Tracking System, a recruiter would be faced with blind spots in crucial strategic areas of predicting the availability of specific talents in the near future.
When the time comes, you’ll likely end up running around and spending more time than you should to get familiar with the new hiring needs, understand the challenges and come up with the solutions. By the time you get the hang of it, your competitors might’ve already figured out hiring needs and successfully recruited talents before you.
With reports at hand, you will be able to anticipate future hiring needs based on the data from your past recruitment. You would have a good head start to prepare for the future challenges that will come with the new hiring needs and be able to recruit at your best capability.
4 Reports You Need to Boost Your Recruitment
1. Candidates Report
This type of report is akin to a candidate database. Why? Because it provides you with full visibility of all candidates involved in the recruitment process. You will be able to track where each candidate is sourced from, whether it’s job portals, referrals, social media, etc.
A reliable Applicant Tracking System available on the market today, such as Manatal, provides an insightful candidate report that allows you to widen your talent pool and improve the quality of your candidate list in future recruitment within a few clicks.
You’ll be able to access candidates' data by source, either by your team, your career page, employee referrals, or through recruitment. At the same time, you’ll have the ability to look at candidates' databases sorted by the channel they were sourced through, such as Linkedin, email, resume upload, referrals, and more.
You can go even deeper, as Manatal’s candidate report grants you the capability to track the number of candidates sorted by different types of channels over time.
Click here to see what type of data that Manatal’s reports provide
2. Hiring Performance Report
The number of talents that have been successfully hired and placed determines your performance. Without an exact record of the rate of successful hires, what you have would be unreliable or bad data. This useless data won’t contribute to your improvement.
A tool like Applicant Tracking System is able to provide an accurate and detailed hiring performance report. You will be able to know exactly how many talents have been successfully acquired and how many have dropped out during the process. This gives you an opportunity to determine actions that need to be done to improve your performance in future hiring projects.
A well-designed Applicant Tracking System like Manatal’s pushes you to the next level when it comes to improving your hiring performance. Its comprehensive hiring report provides you with full visibility of the total number of placements or hires made over a given period of time. You will be able to go in-depth and see the number of matches and added resumes in specific recruitment projects as well.
Plus, you will find the pipeline performance, which shows the performance in a recruitment funnel based on your hiring process stages. At the same time, you will be able to determine your performance based on percentages of candidates from the interview stage all the way through to the hired stage, the average time to hire, the number of dropped candidates, and more.
3. Leaderboard Report
The key to a higher performance of the recruitment team overall lies within the ability to track every action of each team member through every stage of the pipeline. And the leaderboard report can provide you with the exact data you need.
A Leaderboard report allows recruiters to track the performance of each team member from the beginning of the recruitment until the end. You will be able to see which specific team member falls short in specific stages of the pipeline.
An insightful leaderboard report from an Applicant Tracking System like Manatal’s provides users with in-depth activity details of the hiring team throughout the pipeline. You will be able to track the total number of;
- candidates created
- dropped candidates sorted by user
- activities created, emails sent, as well as notes and attachments added.
All can be filtered and sorted within a few clicks.
Moreover, Manatal’s leaderboard report also shows the total number of jobs owned by each user and the most advanced stage of those jobs.
4. Sales Report
For recruitment agencies, business development and sales are key aspects of their businesses. Knowing what has been going on in each stage of the sales pipeline would help them improve their performance and the quality of their operations in the long run.
With Manatal’s Applicant Tracking System at your disposal, not only does the platform provides you with the recruitment CRM (Customer Relationship Management) feature that smoothens the sales pipeline from end to end, but its sales report also reveals the sales performance throughout the CRM funnel, based on your client pipeline stages.
Click here to learn more about Manatal’s extensive recruitment reports
Bring It All Together
It is apparent that in the competitive recruitment market today, the key to success over competitors is speed, accuracy, and efficiency. To obtain all of that, you must be able to properly record every activity in the hiring pipeline, look back into past actions, and constantly come up with new ways to improve your performance.
Not only will this help you keep track of activities, but it will also help you identify the issues and let you know which stage needs to be fixed. These data points will help you improve your performance and be ready for the next challenges to come.
The most effective way to ensure all actions will be stored and turned into insightful data is by implementing a tool that comes with the ability to generate coverage reports based on sharp analytics. Such reports help ensure recruiters of higher performance and a better candidate experience.
There are many analytics tools out there to choose from. However, one of the most efficient tools available on the market for recruiters is the Applicant Tracking System. Not only does it ease recruiters’ workload while smoothening the hiring process, but it also generates insightful reports that help you boost your performance.
Manatal is a comprehensive Applicant Tracking System that comes with many innovative features that enable you to discover talents, turn them into candidates, and fill them in open jobs smoothly and quickly.
One of Manatal’s highlight features is reports and analytics that provide easily accessible detailed recruitment data and key metrics that help you quickly spot what bottlenecks your recruitment funnel.
You’ll be able to develop actionable solutions for each issue by tracking and improving critical KPIs like time to hire, cost of hire, reasons for rejection, and recruitment performance ratios within a few clicks.
Start your 14-day Free Trial with Manatal now to discover its innovative features and see how the platform’s insightful reports help ensure the quality of your next recruitment.