Enjoy the highs, avoid the lows and make best use of KPIs
Can you believe it? People are already starting to talk about Christmas!
Do you remember last January when you started the new year a fresh? New resolutions, lose weight, exercise every day, go on a diet and stick to it, wait a minute.....is that cake?
Then there’s work. First day back. New pants (thanks Mum), you’re pumped up and focused on smashing your annual target. A target which has left you a victim of your own success. You were runner up on the leader board last year and over target by 23%. The new target is inequitable but you’ve dusted yourself down and ready to hit it. Hard.
There is one place no one wants to be however and that’s at the end of the year having fallen short of target. Candidates are not responding, hiring managers are stalling and every day seems the same.
In my experience, there is only one way to get back on track.
Stop eating cake.
I’m kidding, of course. The sure way of climbing out of a slump like this is to set yourself some KPIs. But more importantly stick to them!
Monitoring your KPIs so frequently may sound like an arduous task, but it’s really the best way to notice when issues arise. It’s also a great way to amend your performance and achieve better results. By analysing your KPIs, you will enjoy a daily opportunity for instant feedback and gratification.
If you’re not tracking your KPIs, you have no way to measure your success or indeed problem areas. This means you will not know what you need to achieve month by month nor will you have any minimum standards.
There are certain ratios that are critical to measure and most of you will be familiar with the ‘Recruitment Funnel’ so think about what metrics make sense for you. Once you are comfortable with what works for you then you can place a confident prediction on what it will take to achieve (ideally overachieve) your target.
I’m not going to give you a load of waffle on metrics as I’m sure you’ll be familiar with most of them. My only advice would be to measure them regularly and the key is to be disciplined in your approach otherwise they just won’t get done. Trust me, the best recruiters use them and stick to them. KPIs are their religion.
You then need to improve.
If you make adjustments then you will improve. You will know the exact results you must achieve each day to consistently attain your goals. It’s not about the number of calls you make, but the daily results you need to achieve. Your focus should be on learning to improve and master your craft. This will ensure you better serve the clients and candidates you represent.
The statement, “What gets measured, gets done” holds some truth.
I like to think “What gets measured, gets improved”.
We measure to understand, learn, grow and succeed. We also measure for red flags, winds of change and of course to identify when we are doing a great job.
By measuring and setting minimum standards, we can identify methods for improvement and assure that we are becoming a better recruiter.