Making Your Job Advertising Nairas Count: How to Track ROI on Your Job Advertising

There are several options open for a recruiter or employer to advertise jobs and attract candidates but unless you have unlimited funds allocated to recruitment purposes you want to know which of your job advertising channels bring in the most results and allocate more of your resources to those channels.

Some years back the classifieds in the dailies were probably the major, if not only, means used by many organisations to advertise their jobs. Today things are changing fast and while unemployment is still on the rise it is getting trickier attracting the right sort of candidates for the really tough jobs.

Plenty of Options

Now there are several job sites, boards and even social recruiting platforms available, matched with an increasing impatient of the managers to have you get the right people in the door at the least possible cost. As an experienced recruiter with one of the top recruiting agencies told me in a phone chat, “The management does not care how you get the right candidates. They only want you to get the qualified candidates for the jobs without asking them (management) for money”
The presence of many job sites mean that you need to test the return you get from the prominent ones and thus decide the ones that are worth your time and money.

Use the Right Tools

Many employers and recruiters in Nigeria seem not to have in place applicant tracking systems that enable you track where the flow of candidate CVs, visits and applications to the application page of their website is coming from. If you don’t have applicant tracking systems in your employer/recruiter site you can have installed custom forms that require each applicant to a job to fill in information on where he got the job vacancy from

For Email Applications

For employers that receive the bulk of applications via email there is little to do in terms of tracking the flow of applications. At Ngcareers we have created a way to see which applications coming into your email are from Ngcareers. On opening applications in your email there is a nice little footer that says from Ngcareers. This is our way of letting recruiters know the volume of applications we direct to their email especially if they had posted same job to other job sites.

Compare Horses and Donkeys

When you have in place application tracking systems (software, forms or any other custom means) you then should be able to compare all your sources of job advertising from search to referrals and note the quantity and quality of applications each source sends your way.

Track Quality and Quantity

As a recruiter once told me it is more valuable to have a source send in 5-10 qualified candidate applications than send in 80 vastly unqualified and low quality applications. First it saves the recruiter time to go through the 80 applications which mostly end up substandard and unqualified. He would prefer getting to work immediately with the few qualified applications rather than sift through hundreds of unqualified candidate data.
Tracking quality and quantity will help you know and decide who to allocate more resources to when Source A sends in 200 vastly unqualified applications and Source B directs 25 high quality applications to your site or email.

Calculate Your Stats

A formula we found useful to use in calculating the Quality of Applicants per Source is as follows;
A = B + (C-D)
where A – Source Quality of Applicants (rated 1-10)
B – Source Cost Per Hire (in Naira divided by 1000)
C – Actual Source Time to Hire (in weeks)
D – Expected or Average Time to Hire (in weeks)

When you determine sources that provide the highest quality of Applications (Source Quality per Hire) you stick with them.

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