QUESTION: I want to start using KPIs (metrics). Can you please provide some guidance around getting started on this? Also I do not have a database so I will need to track things manually. I use Excel spreadsheet to keep track of clients’ calls and I keep candidates resumes in a folder on my computer. Not ideal, I know. – Caroline
ANSWER: You might want to look at PCR by Main Sequence, which is inexpensive and cloud based. There is a “Mike” price or a RecruiterU price with them, even though we do not have an official affiliation agreement. A database is a phenomenal investment and will save you at least one placement per year. By saving, I mean access to the data quicker, so you can find the right candidates and get them submitted. There are several to choose from. Clients have told me that Big Biller is a good software. I have just had a fantastic experience with PCR by Main Sequence.
Having said that, I would not use the database to track the metrics for a variety of reasons, because it is flawed due to user error, meaning recruiter error. I have tested a many different ways to track metrics in my office. The absolute easiest way to track metrics is super simple. Take a little 3 x 3 notepad or Post-It note label M-T-W-Th-Fr across the top fo the sheet and and draw 5 columns down it. Along the left side fo the sheet label RP (Recruiting Presentation) and MP (Marketing Presentation). From there, make hash marks for each RP and MP. So on Monday we had 5 MPs and we had 7 or 8 RPs, hash, hash, hash. At the end of the week you take that one little piece of paper, total up the hash marks and add those numbers onto a spreadsheet.
With my coaching clients we use the RPM dashboard, which is included in the coaching program. We also have offer RPM for those who simply would like to track metrics. Just send us a note and someone on my team will set you up with that. Whatever you method use, a spreadsheet or RPM, I would recommend you use a Post-It to track your daily metrics.
There are other important metrics to track beyond RP and MP. You want to know how many first time interviews to a placement. You want to know how many people you have to submit to get a first time interview. You want to know many recruit presentations to get somebody to become a first time interview.
For example, if you have a goal of a $250,000 in billings, it is probably about two first time interviews a week, whether it is on the phone or face to face. Depending upon the recruiter, two interviews a week could be anywhere from 10 to 25 recruit presentations to get one person to go on an interview. Let us say it is 20, that means you need to talk to 40 candidates a week, eight a day. Marketing presentations are anywhere from 5 to 15 marketing presentations a day to get a new assignment.
If you talk to 8 candidates a day, combined with the marketing, you will have a $250,000 desk. It is literally that simple.