Recruitment Analytics for Temp Agencies
Employees are the lifeblood of a company. Recruiting talented employees is one of the most crucial factors that leads a company to success. However, the cost of hiring an employee goes far beyond salary, to encompass recruiting time period, training, coverage, benefits etc.
Reviewing applications, interviewing candidates and negotiating salaries take precious time away from a business's existing tasks, especially when the business needs more workers only for a certain period of time. Temp agencies can help with this as they typically have a large pool of workers they have already screened.
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They do the work of filtering resumes, conducting preliminary interviews, and other screening methods to save companies' time doing these common hiring chores. That's why temp agencies, which act as a middleman between employers and workers, are in great need in today's various industries. They help match qualified candidates with companies, and save time, effort and money. Besides, temp agencies have more flexibility and lower potential legal risks. In todays data-driven world, the temp agency industry has to leverage data so that they can stay on top of the competition, hire the right employees, and make sure their clients fill with qualified workers quickly and efficiently.
InetSoft business intelligence technology offers effective solutions to help temp agencies measure, explore, and analyze recruitment analytics in different industries so that temp agencies can better reach hiring goals.
InetSoft's Temp Agency Recruitment Dashboard
With the powerful data visualization capabilities at InetSoft, temp agencies can easily use their recruitment dashboards to figure out data patterns in a comprehensive manner. By utilizing Style Scope technology from InetSoft, a variety of KPIs can be visualized in different ways on the interactive temp agency dashboards, which would help temp agencies interpret and evaluate a variety of talent acquisition factors that aid in hiring processes. In order to find out which recruiting platform is the most effective, InetSoft's temp agency dashboard includes the potential hire by job source chart, indicating the total number of applicants that are coming from each job source and breaking down hired status in color to show how many applicants are qualified.
This intuitive analysis can help temp agencies better understand their recruiting expenditures, and stop spending money on platforms that are not bringing in interested candidates, which will lower their time to hire. Hire time and quality of hire are other valuable recruitment metrics to be considered while analyzing the effectiveness of different platforms, as it quantifies the number of days it takes between a candidate being approached for a specific role and the time they actually get the job and the quality of the candidate.
Putting these two metrics together, temp agencies can tell the most efficient recruitment platform by finding out the higher quality of hire with less hire time. With the help of InetSoft's temp agency dashboard, temp agencies are able to develop new strategies that will have a positive impact on their recruiting process.
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To help temp agencies understand the recruitment analytics on a deeper, more practical level, InetSoft's temp agency dashboard leverages another important metric of recruiting analytics - placement successful rate. By utilizing Style Scope, InetSoft's temp agency dashboard visualizes successful placements and unsuccessful placements in every industry to clearly demonstrate their advantageous resource in different industries. In this example, companies can tell this temp agency has a rich resource in finding high-quality candidates in legal and sales/marketing industries, since the successful placement rate in these two industries is 1. This tempo agency could be a really good partner with companies in legal and sales/marketing industries. Also, the temp agency can consistently attract high-quality talent in these businesses.
On the other hand, temp agencies can also identify their disadvantaged industries and make improvements in time by finding the industry with the highest unsuccessful placement rate on the chart. Such metrics are critical in establishing an efficient hiring process and, ultimately, bringing sustainable development to companies in different industries and their resources. Besides, analyzing the unfilled positions based on time metrics helps temp agencies to identify which months have the most job demand so that they can prepare for recruiting relevant positions in advance.
From InetSoft's temp agency dashboard, temp agencies can tell that the fall season has the most job demand in the past years and they can prepare for recruiting employees in spring or summer so that they can provide their clients with human resources quickly. InetSoft's temp agency dashboard is able to help temp agencies to optimize their recruiting process, improve their performance, and enhance productivity. With the help of real-time insights, not only temp agencies but also their clients can make smart strategic decisions to reach their recruiting goals.
Style Scope also offers a flexible and functional toolbox to help temp agencies easily visualize and manage their data in various ways, which make their dataset more diverse on the dashboard. Besides, through Style Intelligence's predictive and real-time analytics, temp agencies can measure the performance of different job resources and make improvements in time so that they can save money and identify factors that are influencing their hiring process. With StyleBI from InetSoft, during data processing, machine learning would be implemented to help temp agencies to make intelligence predictions, which will greatly increase productivity and improve efficiency. Ultimately, InetSoft's business intelligence analytic tool will help temp agencies to source and retain the kind of talent that will propel them to prosperous new heights.
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