{"id":1417,"date":"2021-08-23T13:53:41","date_gmt":"2021-08-23T12:53:41","guid":{"rendered":"https:\/\/devwebsitepro.com\/newmillennia\/?p=1417"},"modified":"2023-06-30T15:48:59","modified_gmt":"2023-06-30T14:48:59","slug":"setting-targets-in-your-recruitment-agency","status":"publish","type":"post","link":"https:\/\/www.newmillennia.co.uk\/blog\/setting-targets-in-your-recruitment-agency\/","title":{"rendered":"Setting Targets in Your Recruitment Agency"},"content":{"rendered":"<p>When you <a href=\"\/starting-recruitment-agency\/\">start your own recruitment agency<\/a> you\u2019re focussed on just getting in as much business as possible!<\/p>\n<p>However setting targets can help you stay on track and stop you taking on roles that don\u2019t move your business forward.<\/p>\n<p>Below we\u2019ve explored a number of different targets you can track within your recruitment agency:<\/p>\n<p><b>The obvious one, that you\u2019re of course used to tracking is the revenue that you\u2019re bringing into the business. However there are other ways to measure your success:<\/b><\/p>\n<h3><b>Recruitment Process Speed<\/b><\/h3>\n<p>If you can improve the speed of your recruitment process then it enables you to take on more business.<\/p>\n<p>Look at how long each of your placements has taken from first receiving the client\u2019s brief to placing a candidate.<\/p>\n<p>Reviewing the speed of the recruitment process in detail allows you to <a href=\"\/blog\/5-approaches-to-reviewing-your-business-processes\/\">identify places where processes can be improved<\/a>.<\/p>\n<h3><b>Placement Stats<\/b><\/h3>\n<p>Success can also be judged by looking at how many placements you make compared to the number of roles that you advertise.<\/p>\n<p>You\u2019ll likely have an inkling for how you\u2019re performing, however looking at the stats can tell you more about where to focus your efforts.<\/p>\n<p>Look at how many candidates you put forward each time, can you see a pattern? Does putting forward less candidates lead to a more successful placement or vice versa?<\/p>\n<h3><b>Applicants per Opening<\/b><\/h3>\n<p>How effective are your job advertisements? Looking at the number of applicants per opening can be telling.<\/p>\n<p>If you have a ton to wade through, does that mean your ad was exciting and enticing, leading lots of people to want in on the job! However perhaps it wasn\u2019t targeted enough?<\/p>\n<p>If you get just a handful of potential candidates, is that not enough to judge? Or do you have a perfect number of candidates to consider in detail.<\/p>\n<p>Different results will mean different things depending on your industry, but it can tell you a lot about how your job advertisements are working.<\/p>\n<h3><b>Client and Candidate Satisfaction<\/b><\/h3>\n<p>Keeping your clients and candidates happy, and <a href=\"\/blog\/7-ways-to-build-a-customer-centric-recruitment-agency\/\">putting their needs at the heart of your business <\/a>is of course your ultimate goal.<\/p>\n<p>You might decide to track if clients use you for a second time or issue a questionnaire for candidates at the end of the recruitment process for feedback.<\/p>\n<p>Listen to any comments you receive so you can assess places where your service can be improved to get more repeat business.<\/p>\n<h3><b>Offer Acceptance Rate<\/b><\/h3>\n<p>Making an offer to a candidate can of course go one of two ways and ultimately you don\u2019t have control over which way it goes.<\/p>\n<p>However looking at your acceptance rates can tell you more about how you\u2019re operating and refine your own approach to recruitment.<\/p>\n<p>If your offer acceptance rates aren\u2019t great, then consider how compelling you make the proposal to candidates and different ways you can approach clients about improving their offer.<\/p>\n<h3><b>Marketing Success<\/b><\/h3>\n<p>Take a look at your marketing efforts as another way to judge your success!<\/p>\n<p>Are you building followers on your social channels or increasing the number of people who visit your website each month?<\/p>\n<p>Are you running a campaign that you\u2019re aiming to get at least three leads from?<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Understanding the most successful channels for your business and setting targets allows you to spend your marketing budget in a more informed way in the future.<\/p>\n<h3><b>Quality of Hire<\/b><\/h3>\n<p>Understanding the quality of the individual you\u2019ve placed can be tricky, but getting the information can be really valuable.<\/p>\n<p>Try to understand from your clients how long the candidates stay with the business, and how their career develops.<\/p>\n<p>If stats show that you\u2019re amazing at finding that quality hire that stays loyal to the company it\u2019s a great selling point for new clients!<\/p>\n<h3><b>Target Client List<\/b><\/h3>\n<p>Another way to set targets within your business can be to create a dream list of clients that you\u2019d love to work with.<\/p>\n<p>Think about the companies you admire, the ones that have always been loyal to another recruiter and ones you\u2019d simply love to shout about in your marketing.<\/p>\n<p>It really gives you a focus when searching for new business, and you\u2019ll get such a buzz when you get to tick one off your list!<\/p>\n<h3><b>Employee Targets<\/b><\/h3>\n<p>Looking at each individual within your recruitment agency can be another way to assess how successfully you\u2019re operating.<\/p>\n<p>Setting individual goals gives everyone ownership over the success of the business, creating a positive and productive environment.<\/p>\n<p>Even if market conditions mean you\u2019re not reaching financial targets, you can rest assured that your team are operating successfully ready for when the market picks up.<\/p>\n<h3><b>Cost Targets<\/b><\/h3>\n<p><a href=\"\/blog\/7-ways-to-keep-your-start-up-recruitment-agency-overheads-to-a-minimum\/\">Keeping your costs low<\/a> is an important part of running a recruitment agency, particularly if you\u2019re just starting out.<\/p>\n<p>Set goals for different areas of your business so you can ensure you\u2019re operating as efficiently as possible.<\/p>\n<p>Identified a high-spend area? Make that an area of focus so you can reduce your costs for the long term.<\/p>\n<h3><b>Set Personal Goals<\/b><\/h3>\n<p>Setting goals for your own career can be another way to judge your success! As well as revenue you might decide that you want to work towards expanding your recruitment team.<\/p>\n<p>Alternatively you might see success as creating a recruitment brand that becomes recognisable and even disruptive in the market.<\/p>\n<p>Whatever you decide, make it tangible and measurable to allow you to gauge your own success.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you start your own recruitment agency you\u2019re focussed on just getting in as much business as possible! However setting targets can help you stay on track and stop you taking on roles that don\u2019t move your business forward. Below we\u2019ve explored a number of different targets you can track within your recruitment agency: The &#8230;<\/p>\n","protected":false},"author":17,"featured_media":1418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16],"tags":[85],"class_list":["post-1417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recruitment-advice","tag-setting-targets-in-your-recruitment-agency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Setting Targets in Your Recruitment Agency - New Millennia<\/title>\n<meta name=\"description\" content=\"Tracking revenue is one way to judge how your business is performing. 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