How many hires did your content produce last month? How many do you expect it to produce next month? And how many will it take to get the amount of candidates you need?
If you’re like most recruitment marketers, one of the biggest challenges you contend with is connecting the content you create and the number of hires that result.
Not knowing can create a major issue in our field, as it stands in the way of being able to:
- Know what content you should be focusing on to meet your hiring goals
- Know how much you can expect to pay for it
- Back up the direction of your strategy to stakeholders
- Justify requests for bigger budgets to leadership
Fortunately, with a little digging and a small handful of data points, any team, regardless of size or experience level, can make the connection between Recruitment Marketing content and resulting hires.
Keep reading to learn what you’ll need.
How many hires did you make last month?
Firstly, you want to understand your current hiring data. This data can be from the previous month or quarter, whatever period of time you feel will give you the most reliable picture of your current hiring performance.
Here’s what data you want to gather:
- Number of total applicants
- Number of qualified applicants
- Number of hires
With these 3 data points, you want to then calculate your conversion rates all throughout your recruitment funnel.
How many clicks did your content receive?
With your hiring performance in hand, the next step is to understand what it took to drive that performance.
Specifically, you’re going to want to look at how many clicks your paid and organic content received, assuming the content drove candidates to apply in some way. For most people, this means looking at:
- Job ads
- Boosted social media posts
- Social media posts
- Blog content
- Email content (i.e. talent newsletter)
Rally’s Lori Sylvia explains why clicks are the best measurement of engagement.
You can manually look at your content to calculate clicks, but, depending on how much content you have, this can become tricky and time-consuming.
An easier way is to automatically track clicks across all of your paid and organic content with Rally Inside, our analytics & benchmarking tool.
How much did it cost to create your content?
You also want to look at how much it costs to make and distribute your content.
This means looking at how much it costs to deliver your content (i.e. your spend on paid ad campaigns) but also production costs, for both organic and paid content.
Did you have to hire anyone (i.e. writers, editors or designers) to create your content? Did you pay for a sponsored blog post on someone else’s site? Did you have to invest in any new tech?
Put simply, how much of your Recruitment Marketing budget did it take to create and deliver your content? If you have no budget and it took $0, then $0 is your data point.
Aside from money, it’s also important to take note of how much time it took you to create your content, as this can also help you accurately plan for the future. If a piece of content took 2 hours to create but got no engagement from your audience, then that’s time wasted that you and your team could have spent on something else and you may not want to continue that specific type of content again in the same way.
Calculate how many clicks you need to meet future hiring goals
You know your current recruitment funnel performance; you know how many clicks are behind it; you know how much it cost to generate those clicks; now, it’s time to extrapolate on this data to figure out what your Recruitment Marketing strategy needs to look like to meet future hiring goals.
For example, let’s assume you’re trying to hire 10 people next month. You know that last month you hired 5 people from 15 qualified applicants from 50 total applicants from 500 total clicks on your content. Your costs for the month totaled $300.
From this, assuming the same conversion rates at all stages of your recruitment funnel, you can calculate that your content needs to generate 1,000 clicks to drive enough quality applications to ultimately result in 10 hires, and that you’ll likely need to spend $600 to achieve this.
An easier way: Use a Recruitment Marketing Conversion Rate Calculator
If you don’t want to make these calculations in your head or on the back of an envelope, you can use Rally’s free Recruitment Marketing Conversion Rate Calculator instead.
With this easy-to-use calculator, you can instantly visualize your current conversion rates as well as project what Recruitment Marketing strategy and budget are needed to meet your future hiring objectives.
Just input the data points that we’ve outlined above, and you’ll instantly get a breakdown of your entire recruitment funnel, complete with conversion rates at every stage. You’ll also be shown how many clicks you need to generate to meet your future hiring goals, and how much you can expect to spend to generate those clicks.
After using the calculator, you’ll also have the option to download a spreadsheet to give you even more insight on your recruitment funnel conversions and Recruitment Marketing content performance.
Rally note: Elevate your strategy even further by signing up for our other free Recuirtment Marketing tools.
Knowing how many clicks your content needs to generate to meet future hiring goals is an essential first step to creating a successful Recruitment Marketing strategy.
The next step is putting a tracking and measurement system in place to understand what kind of content engages your talent audience the most. This way, you can hone in on what topics, formats and channels you need to be targeting to generate the most possible clicks through your content.
To learn how to easily implement tracking and measurement in your strategy, download our Guide, How to Track Your Recruitment Marketing Strategy!