Recruitment analytics dashboard software for enterprises

Recruitment currently requires to be supported by accurate data and timely. However, many organizations are still experiencing difficulties when recruiting information is dispersed, there is no visual tool to track analyze the effectiveness of recruitment strategies are deployed.

This is why Recruitment Analytics Dashboard becomes a solution of the level set. Instead of just recorded data in a discrete way, this dashboard allows businesses to aggregate, visualize, in-depth analysis indicators recruitment important. Not only helps the administrator catch “what is happening” but also support answer the question, “why so?” and “should tune out why”.

The same Lac Viet SureHCS find out details in this article.

1. Recruitment Analytics Dashboard what is?

1.1. Definition role

Recruitment Analytics Dashboard is an intuitive tool that focuses on the display and analysis of indicators of recruitment as important as recruitment time (time to hire), recruitment costs (cost per hire), the rate of conversion candidates (conversion rate), source candidates effectively (source of hire).

The biggest difference of dashboard format “analytics” is the ability to analyze trends over time, detect unusual to give suggestions for improvement based on data.

For example easy to understand: If the business get found time to recruit a position IT last more than an average of 20 days, dashboard can help determine the cause: may be due to recruitment has not attractive enough or do the interview lasted. From there, the business can adjust the process for more efficiency.

While recruitment dashboard mainly nature report, the current status, then recruitment analytics dashboard like a “panel” strategy helps leaders look no further, decisions smarter.

1.2. Reasons businesses should use Recruitment Dashboard

• Reduce the rate of recruitment wrong: According to the report of LinkedIn, have to 67% of businesses ever misjudged candidates due to lack of data support. When using dashboard analysis, recruiters can compare the quality of candidates from different channels, performance after receiving the level of fit with the organizational culture help businesses choose the right person from the beginning.
• Optimal sources of recruitment: Not recruiting channel which also equally effective. With recruitment software dashboard integration, analysis, business easily keep track of the candidates come from where channels have a high conversion rate, most channels costly but low efficiency. Thanks to that, the administrator can allocate the proper budget to improve the strategy to attract talent.
• Performance assessment team of recruitment: Dashboard helps track the recruitment time average of each expert, the rate of successful placement, processing speed record. This information not only serves the objective internal evaluation, which is also the basis for training, improve work efficiency.
• Forecast recruitment needs according to the trend: A system dashboard so powerful, it can analyze the data for seasonal employment, by industry or by the labor market is at. Since then, business initiative planning personnel avoid the shortage or surplus of human resources at the critical moment.

2. The main ingredient in Recruitment Analytics Dashboard

A recruitment analytics dashboard effective not only current data but also help businesses understand the “whole picture” of effective recruitment. To achieve this, the system should integrate the analysis of some indicators of recruitment core (key recruitment metrics). This is a platform that helps businesses evaluate productivity, optimized processes, and the right decision.

Here are the indicators that a recruitment software dashboard or recruitment dashboard is the need to show clear easy to understand:

2.1 Time to Hire – Measure the response speed of the recruitment process

Time to Hire is the period of time from when the candidate begins to participate in the recruitment process (for example, receiving a call, send a CV) to the time they formally accept the job offer. This is the only number that reflects directly effective handling of our team of recruitment and the level of “smooth” of the interview process – evaluation – decision-making.

Through recruitment dashboard, businesses can:

• Analysis of the average processing time record in each round
• Detection of blockage points: waiting for the interview schedule, the response time from the manage time, please browse the offer
• Comparison between the departments position to standardize processes

2.2 Time to Fill – Measure the ability to plan, the overall capacity of the campaign

Time to Fill from when businesses open their recruitment requirements (for example: after the approval of the staffing needs) to the point candidate for a job. This is the only number that reflects the ability to forecast, prepare, deploy the entire application process, including the stage of communication, attraction, handle profile.

The difference compared with the Time to Hire:

• Time to Hire only measure the “interact with candidates”
• Time to Fill covers the entire cycle recruitment, from the appearance staffing needs

For example, If the location is approved from the date of 1/3, but to date 15/4 new people get the Time to Fill is 45 days, although Time to Hire is only 10 days (because of the process, awaiting approval, communication, profile filter lasts).

Practical application:

• Use recruitment software dashboard to track Time to Fill in each location, department, or time of year
• Comparison between the location of common and location expertise
• Reviews effective hr planning, the ability to prepare in advance of HR departments

2.3 Cost per Hire – budget control optimal investment strategy recruitment

Cost per Hire is the total cost of business to get out to recruit a new employee. Includes:

• The cost of posting vacancies news
• Free software ATS or recruitment dashboard
• The working time of HR (scale out cost)
• The cost of the interview (for example, food and accommodation if available)
• The cost of training for employees original and integration

Recruitment costs usually account that many businesses don't do. If no track in the dashboard, very easy to pass the budget without realizing the cause. For example, there are businesses spend hundreds of millions for recruitment ads, but candidates don't fit or leave early.

Analysis through recruitment software dashboard:

• Displays the total recruitment costs according to each location, campaign, or months
• Compare the cost between the channel recruiting: social networking, introduction, internal headhunter
• Measure the ROI of each channel openings: expenses compared with the quality of candidates get

3.4 Quality of Hire – Measuring the quality of recruitment to recruit the right and keep the right people

Quality of Hire (quality recruitment) is an index rating the degree of success of a hiring decision. Instead of only measuring the performance of new applicants, only of these general many factors such as:

• Job performance after 3-6 months
• Duration sticking at the company
• The level of fit with corporate culture
• The level of satisfaction from the manager directly or team

A candidate is considered “hiring right” not only because of the expertise, but also have to integrate good, steady work have potential long-term development.

Application in the dashboard recruitment:

• Recruitment software dashboard can show the proportion of new employees meet the requirements in the first reviews
• Connect with data management performance, to measure the effectiveness practical work
• Track the rates stay the early of the new job openings (for example: in 3 or 6 months)
• Compare the quality of recruitment between channels (for example: candidates from LinkedIn proportion of sticking higher from Facebook)

2.5 Candidate Conversion Rate – optimal conversion rates in the process candidates

Candidate Conversion Rate is the ratio between the number of candidates taking a step in the recruitment process and the number of move to the next step. A common form is the ratio between the number of submitted CV to with the number of candidates invited to the interview.

Can track the conversion rate in several stages such as:

• Submit CV → Invited for an interview
• Casting time 1 → 2nd Interview
• Interview end → Receive offer
• Receive offer → agreed to go to work

This indicator helps business understand the effectiveness of each stage in the “hopper recruitment”. If the conversion rate from CV → interview too low, possibly due to recruitment requirements set out is not clear, JD has the right practice or a job offer is not attractive. Conversely, if the conversion rate from offer → get the lowest possible due to welfare do not compete or experience the candidate has not yet good.

Application in the recruitment dashboard:

• Show conversion rate according to each location, department or recruitment channels
• Monitor the rate of “fall” candidates between the rings
• Combined with feedback from candidates to improve content recruitment, email invite for an interview or interface applications

2.6 Source of Hire – analysis of effective recruitment channels

Source of Hire reflects the recruitment channels which successful candidates come from, where, for example, recruitment website, LinkedIn, referrals, internal, company website, job fairs, university or ad Facebook.

Each channel are consuming resources (budget, time, management, support tools). Understanding the source would bring the quality of our candidates will help the business investment precision, avoid spreading waste.

For example, A business finds that 60% of the successful candidates come from referral program internal, but only invest small budget for this activity. From the data in recruitment software dashboard, businesses can out decided to increase the referral bonus, at the same time reducing advertising budget is not effective.

Application in the dashboard:

• Classify applicants according to the source application
• Track the success rate and quality of recruitment according to each channel
• Combined with index Cost per Hire to assess the cost-effectiveness of each source

3. Deployment Recruitment Analytics Dashboard giving what benefits for business?

In the recruitment process, what makes many troubled business is not lack of candidates, which is the lack of accurate information to decision fast right. Recruitment analytics dashboard is not just a tool, visual supports, but also the “analytical mind” helps hr executives clearly see the strengths and weaknesses in the entire recruitment process, from which optimal efficiency, cost savings.

Here are four practical benefits that a recruitment software dashboard modern can bring to a business:

3.1. Hiring decisions based on data

In many organizations, the candidates still influenced more by emotion depends on the personal experience of the employer or identified from the interview. However, when using recruitment analytics dashboard, and all hiring decisions are based on data that has been systematized clear analysis.

For example, if the dashboard shows a group of candidates from channel A proportion of the holiday in the first 3 months is more than double with channel B, then the business has the facility to adjust strategies to attract talent, instead of continuing to pour the budget on the source of inefficiency.

3.2. Enhance team productivity, recruitment

A recruitment dashboard effective not only reflect the final result, but also shows step by step in the working process of recruitment specialist: the processing time profile, the number of interviews performed, the rate of successful candidates according to each individual charge.

Thanks to that, managers can detect early points of congestion in the process, for example, have the recruiter handling record slow or round interview lasted not necessary from that plan, adjust, re-training or re-assign work.

 3.3. Optimal recruitment costs

The investment for recruitment is essential, but not always effective if there is no control tool in detail. With support from the recruitment software dashboard, businesses can compare the cost of recruitment in each channel, each campaign or according to each location. Reduce wasted budget, increasing the rate of investment (ROI) for recruitment activities, at the same time optimal effective hr strategies.

For example, if business development is a recruitment platform're consuming 30% of the budget, but only carries about 5% of the candidate quality, then adjust or remove channels that decision is a lot easier when there is clear data support.

3.4. Forecast planning, human resources, more accurate

One of the benefits most striking of recruitment analytics dashboard is the ability to detect trends in recruitment data, such as time, there are many candidate quality, the location is difficult to recruit lasts many months or changes in expectations candidates according to the season.

When the system is integrated enough historical data, has the function to analyze trends, businesses can build hr planning more flexible to not be as sudden lack of people or recruit residual excessive.

For example, if the dashboard shows the demand recruitment business generally higher in quarter 1 and quarter 3, the hr department can prepare plans to recruit communications from ago instead of “sprint” at the last minute.

4. Choosing recruitment software dashboard fit

Choosing the right analysis tool, recruitment is an important first step for businesses to harness effective hr data. A recruitment software dashboard need not only full features, but also must be consistent with scale, industry and the operational capacity of the organization. To help businesses take out the right choice, below are the criteria specific reviews with comparison to the fact a number of solutions are commonly used.

• Intuitive interface, easy to use: One of the biggest barriers when implementing dashboard is the hr team is not familiar with new tools. Therefore, the interface need friendly, easy to navigate, chart display clear, easy to understand even a person with no expertise in advanced technology.
• The ability to integrate with the system of recruitment is: A recruitment software dashboard effectively need to integrated system, ATS (Applicant Tracking System) or software HRM that businesses are using to help sync data, avoid data entry craft, save time, reduce the risk of errors.
• Security and data control: Data applicants, hr is sensitive assets. Dashboard need to ensure security standards, have assigned access rights by role (e.g. recruiter view is data group to his charge, also leader is viewing the whole system).
• Support advanced analytics (AI, trend forecasting): A recruitment dashboard modern should have the ability to analyze data in real time, the forecast hiring needs in the future, suggestions channel to recruit effectively, or to detect abnormality in the process. A number of solutions have integrated artificial intelligence (AI) helps to detect the behavior patterns of recruitment difficulty recognition method.

5. Top solutions recruitment software dashboard professional

5.1. LV SureHCS Hiring

LV SureHCS is the solution management software hr comprehensive developed by Lac Viet, integrated management functions, recruiting, records management, payroll – benefits, especially system recruitment analytics dashboard LV SureHCS Hiring your own design for Vietnamese businesses. This system fits both medium and large business are looking for tools, intuitive, easy to deploy, have the ability to customize according to the recruitment process internally.

Feature highlights:

• Dashboard recruitment and hr full display indicators: time recruitment, sourcing candidates, conversion rates, cost of recruitment
• Friendly interface with HR, support deployed on demand
• Closely associated with the browser needs to recruit, approve, record, evaluate candidates
• Have the ability to track the effectiveness of each channel recruitment by recruitment specialist in real time

Has integrated AI doesn't? Has integrated AI according to the model advanced as the international platform but has the ability to expand according to your business needs. Features forecasts, current analysis is built according to the logic traditional management ensures easy to understand, operate, practical.

Score limit:

• Little known in the international market, little reference public
• Efficiently unleash most powerful when used in sync with the system of personnel administration of the LV SureHCS

The package price:

• Deploy on request, no charge by user
• Can be integrated package or just deploy module analysis recruitment
• Specific quote based on the scale, the actual requirements of each business

5.2. Power BI HR

Power BI is a data analytics developed by Microsoft, is many businesses used to visualise data analysis from many areas in which hr. When applied to the hiring manager, Power BI becomes a form of recruitment dashboard powerful, helps administrators see clearly the effect of each stage in the recruitment process through charts, index, dynamic reporting.

Feature highlights:

• Customize report according to each location, departments, or duration
• Data connection from Excel, software, recruitment, ATS system
• Support filter comparison data real time assessment instant effective recruitment campaigns
• The ability to create the dashboard (dashboard) separately for each user group: HR, middle management, leadership

Has integrated AI doesn't? Yes. Power BI integrates features advanced analytics based on artificial intelligence such as trend detection analysis, anomalies and visual hints based on user behavior. For example, the system can automatically detect the abnormal increase of the proportion of candidates failed in the interview, alerts managers.

Score limit:

• Interface intensive, require the operator should have knowledge about the data and skills to create a report
• Not HR would also familiar with setting up the analysis model from the start
• Not built-in the recruitment process, businesses need to connect with other systems

The package price:

• Free with Power BI Desktop basic
• Pro package: from $ 10/user/month
• Premium package: from $ 20/user/month for large enterprises need advanced features

5.3. Tableau + ATS

Tableau's analytics platform the data is highly intuitive, the ability to present information through interactive charts. When connected to the tracking system candidate (ATS), the Tableau to become a recruitment software dashboard flexibility, help big businesses track the effectiveness of recruitment in a comprehensive easy to visualize.

Feature highlights:

• Create charts, reports, according to the model drag-and-drop, without writing code
• Supports multiple data sources: software, recruitment, HRM, ERP system
• Can share the report according to role security, decentralization, flexibility
• Easily compare multiple metrics, such as time to hire, quality of hire, conversion rate in each channel recruitment

Has integrated AI doesn't? Yes. Tableau integration “Explain Data” and analytics features advanced AI as identify trends, forecast indicators recruitment cycle time, detect the factors that affect the rate of successful candidates. However, the level of custom AI requires skills data analysis enhancement.

Score limit:

• Cost to deploy and maintain relatively high
• Time to learn to use well versed longer than the software specialized for HR
• Need to connect more with ATS system or hiring software to maximize efficiency

The package price:

• Tableau Creator: from 70 USD/user/month
• Tableau Explorer (see interactions): from 42 USD/user/month
• Tableau Viewer (see report): from $ 15/user/month

If you are medium and large enterprises are looking for solutions recruitment analytics dashboard can be customized according to specific industry integrated synchronized with the system management hr and recruitment is yes, then solutions such as LV SureHCS will be the right choice. Meanwhile, the enterprise had a team of data analysis or internal IT strong can weigh as Power BI or Tableau to tap more intensive.

6. Implementation guide Recruitment Analytics Dashboard effectively

The deployment of a recruitment analytics dashboard is not merely installed a software or design some graphs. Value really only be exploited when the data is standardized, team understand how to operate and maintain business continuous improvement based on real-world data. Below is the roadmap for effective implementation, in accordance with the majority of Vietnamese enterprises are understanding or a new start application recruitment software dashboard into practice.

6.1. Initially standardized data recruitment

A recruitment dashboard only works correctly when the input data consistently full. Therefore, the first step isn't “interface design” which is to standardize information needed to collect and the manner of storage.

Business need:

• Clearly define what data needs measurement: time recruitment, sourcing candidates, conversion rate, cost, quality, recruitment...
• Unified process collect data from the beginning: from the moment browsing needs, recruitment, post, get, profile, interview, offer to onboarding
• Standardized form post, forms, personnel evaluation, feedback email to avoid missing data, standard deviation or dispersion in many places

Illustrative example: A regular business using personal email to candidates feedback will be very difficult to measure the response time or quality of interaction. If using a recruitment system integrated recruitment software dashboard, all data is automatically recorded and analyzed in real-time.

6.2. Training staff to use dashboard

A system though good to now also have no value if the user does not understand how to operate. Therefore, the training of personnel, especially the department of recruiting and management – is the key element in the deployment process.

Businesses should:

• Organization of the training practice on the dashboard, focused on how to read the indicators, understand the context behind the data
• Provide documentation simple, intuitive
• Specify 1-2 people in charge “number conversion” in personnel to support the other members

Illustrative example: at the mere sight of “Time to Hire an average of 15 days,” many people can understand merely as “fast” or “is slow”. But who are trained will know comparison by type, location, monthly, according to source candidates and explain this change came from.

6.3. Measurement continuous improvement

A recruitment analytics dashboard not only is the tool, “said” which must be integrated into operational processes daily.

Businesses should establish:

• Cycle review by the week, month or quarter, depending on the scale of recruitment
• Mounting the main indicators (KPI) on the dashboard on activity reports, meeting personnel evaluation
• As an indicator of abnormal changes (for example, the proportion of candidates bottom ring 1 sudden increase), there must be people responsible for analyzing the causes, suggestions for improvement

Illustrative example: A business use recruitment dashboard to measure the rate of the job after sending the offer. When discovered, this ratio dropped from 80% down to 60% in the 2nd quarter, the HR was detected the cause comes from the change of welfare policy has not been clearly communicate to the candidate.

6.4. Measure the effect after applying the dashboard

Not only measure candidates, businesses also need to measure the effectiveness of the dashboard after a deployment time. The goal is to answer the question: “Dashboard can help recruitment activities better?”

Compare the KPI is important before and after 3-6 months of application dashboard:

• Recruitment time average
• The rate of quality candidates
• Recruitment costs for each location
• The percentage of workers the leave in the first 6 months

Survey satisfaction levels from managers about the transparency, timeliness of data

Illustrative example: After 3 months of use dashboard, a technology company notice processing time record reduced by 25% recruitment cost decreased by 18% due to remove a channel advertising less effective. At the same time, the response time applicants are shortening help increase the rate of receipt from 60% to 78%.

The deployment of recruitment analytics dashboard should not be assigned to the IT department or unit to provide software. This is an attempt to change ways of thinking, ways of commissioning of the entire team recruitment and management. When standardized training, properly applied, recruitment software dashboard will become the “assistant” data invaluable help businesses recruit fast – recruit the right – recruitment savings.