Measuring Success: Key Metrics for Recruitment Marketing Campaigns

In today’s data-driven world, measuring the success of your recruitment marketing campaigns is more critical than ever. Without a clear understanding of how your efforts are performing, it’s challenging to make informed decisions and optimise your strategies. In this blog post, we’ll dive into the key metrics you should be tracking to measure the success…

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In this blog post, we'll dive into the key metrics you should be tracking to measure the success of your recruitment marketing campaigns in the UK, and we'll back up our insights with the latest statistics to show you why these metrics matter.

In today’s data-driven world, measuring the success of your recruitment marketing campaigns is more critical than ever. Without a clear understanding of how your efforts are performing, it’s challenging to make informed decisions and optimise your strategies. In this blog post, we’ll dive into the key metrics you should be tracking to measure the success of your recruitment marketing campaigns in the UK, and we’ll back up our insights with the latest statistics to show you why these metrics matter.

1. Application Conversion Rate

The application conversion rate measures the percentage of job seekers who visit your job listings and actually submit an application.

Statistics: According to a study by Indeed, the average application conversion rate in the UK is around 1.5%.

Action: Aim to improve this rate by optimising your job listings and ensuring they are compelling and user-friendly. This includes using clear and concise language, writing engaging descriptions, and highlighting the key benefits of the role. It’s also important to make it easy for candidates to apply by ensuring your application process is simple and straightforward.

2. Cost per Hire (CPH)

CPH calculates the average cost incurred to hire a new employee. It’s a crucial metric for understanding the efficiency of your recruitment process.

Statistics: According to a study by CIPD, the average cost per hire in the UK is around £3,000.

Action: Track your CPH to identify areas where you can reduce costs and streamline your recruitment efforts. This could include investing in automated recruitment tools, outsourcing certain tasks, or negotiating better rates with suppliers.

3. Time-to-Fill (TTF)

Time-to-Fill measures the number of days it takes to fill a job vacancy from the moment it’s opened to when the candidate is hired.

Statistics: According to a study by RECRUIT, the average TTF in the UK is approximately 35 days.

Action: Analyse your TTF to identify bottlenecks in your recruitment process and make improvements. This could involve reducing the number of interview stages, streamlining your decision-making process, or investing in faster background checks.

4. Candidate Quality

Measuring the quality of candidates you attract is essential. Look at metrics like the percentage of candidates who progress to the interview stage or receive job offers.

Statistics: According to LinkedIn, the average interview-to-hire ratio in the UK is around 2:1.

Action: Evaluate the quality of candidates in your pipeline and adjust your sourcing strategies accordingly. This could involve targeting different job boards, using more specific keywords in your job postings, or partnering with recruitment agencies that specialise in your industry.

5. Source of Hire

Understanding where your hires come from is crucial for allocating your resources effectively.

Statistics: According to LinkedIn’s Talent Trends report, employee referrals remain one of the top sources of quality hires in the UK, contributing to 40% of hires.

Action: Keep track of the sources that consistently yield high-quality candidates and invest more in those channels. This could involve increasing your advertising budget on certain job boards, running employee referral schemes, or attending industry events.

6. Employee Retention Rate

Measuring the retention rate of employees hired through your campaigns is vital for assessing the long-term success of your recruitment efforts.

Statistics: According to the CIPD, the average employee turnover rate in the UK is 15%.

Action: Regularly monitor employee retention rates for hires from your campaigns and make adjustments to improve retention. This could involve offering competitive salaries and benefits, creating a positive work culture, and investing in employee development.

7. Social Media Engagement

Engagement metrics on social media platforms, such as likes, shares, and comments on your job posts, can provide insights into your campaigns’ reach and impact.

Statistics: Hootsuite reports that social media is the second-largest source of quality website traffic in the UK, generating 4.9% of all visits.

Action: Track social media engagement to gauge the effectiveness of your content and adjust your strategies accordingly. This could involve posting more engaging content, running social media contests, or using social media advertising to reach a wider audience.

Conclusion

Measuring the success of your recruitment marketing campaigns isn’t just about collecting data; it’s about using that data to make informed decisions and optimise your efforts. By focusing on these key metrics, you can gain valuable insights into your recruitment process and continually improve your strategies.

At Lure, we’re passionate about helping recruitment companies like ours excel in the world of recruitment marketing. If you’re looking for guidance or support in measuring and improving the success of your campaigns, don’t hesitate to get in touch. We’re here to help you make data-driven decisions and achieve recruitment excellence.

Stay tuned for more insights from Lure, where we continue to explore innovative strategies for success in the ever-evolving world of recruitment.