Based on the theory that if you regulate your process you will meet your end goal, the recruitment funnel is a simple yet vital tool in any traditional recruitment program. It gives insight on the efficiency of the sourcing and screening processes, as well as influences the many decisions made regarding the order of the process and the necessity of certain components. The funnel is without a doubt the most thoughtful method to ensure an organization reaches its hiring goals.
Closely examining your recruitment funnel will reveal how well you convert candidates from one stage of the process to the next.
At Yoh, we want to know what’s working and what’s not working with our recruitment process to help us make informed decisions and recommendations for our clients. This intelligence then allows our clients to better utilize Yoh’s programs and manage their budget.
When we review the recruitment funnel, many of our clients’ tools are aimed at increasing the number of candidates going into the funnel, not the percentage of the candidates that go all the way through and are eventually hired.
Processes that neglect tools and strategies at various points of the funnel threaten the success of the hiring. For example, there is no point in saturating the top of the funnel with candidates if:
- The hiring workflow or selection process is too restrictive.
- Prequalifying components are too selective and not producing successful hires.
- There are not enough recruiter resources at the site to manage applicant volume.
- Candidates decline offers due to a withholding of demands at the beginning of the process.
At Yoh, we manage our client’s recruitment programs with transparency and accountability, but also with evidence and guidance. We build solutions, incorporate methods, and implement best practices based on the transactional data of our client’s recruitment funnel.
Recruitment experts estimate that, alarmingly, nearly 50 percent of all candidates who start at the beginning of the recruitment funnel fall out at the bottom. It is important to break down each stage of the recruitment funnel, outline all of the potential risks and hidden costs, and most importantly, develop solutions to resolve them.