4 Essential HRMS Reports for Your Recruitment Team
Recruitment of new employees is a costly matter. If you do not oversee the function closely, you may be wasting money. Your recruitment team needs to be able to focus their time on what they do best: finding the perfect candidate for a role. Help your recruiters to focus their efforts and improve efficiencies by providing these HRMS reports on a regular basis.
Time to Source
From the moment a requisition is opened in the HRMS until a candidate accepts an offer, ‘time to source’ is a key metric that every company should monitor, as well as having targets in this area to meet. While you may have different targets for various positions or locations, if your time to source is longer than you’d like, it may be due to process inefficiencies or something being amiss about the job, such as compensation being too low or poor interviews with a hiring manager. By using HRMS reports to highlight positions with longer timeframes to source, you can find the bottlenecks in your processes.
Time to Hire
Once a candidate has accepted an offer, getting the person on-board quickly is vital, especially where knowledge transfer needs to occur. Or maybe you are carefully timing out your hire dates, to ensure a person doesn’t start prior to a future project, thus generating costs while on down time. It’s helpful to have this HRMS report at hand to be sure that you are getting the right talent in the door just in time. This report will require the candidate acceptance date as well as the start date in the HRMS.
Your company has a limited budget to spend on job ads and outside sourcing. Do you know where your best candidates come from? Make sure that you take full advantage of the sources that are providing strong candidates who later become great employees and kick non-useful sources to the curb. This HRMS report is useful on a monthly basis as well as yearly, especially when you’re re-negotiating or extending a contract with a sourcing provider.
One HRMS report that recruiters like to see for themselves is ‘recruiter fills’. This number is the count of positions that a recruiter has filled over a time period. Who is your most productive recruiter by position count? Which recruiter brings in a lot of candidates but doesn’t necessarily fill the position? It’s essential to have the assigned recruiter and requisition status as a part of your HRMS so that you can produce this helpful report.
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