Key takeaways:
- Focused resource allocation: Recruitment marketing menus ensure strategic alignment by detailing costs and effectiveness, empowering hiring managers to allocate resources efficiently for targeted talent acquisition.
- Actionable analytics: By analyzing metrics like cost per hire and recommended budgets, recruitment marketing menus provide data-driven insights, enabling optimization of recruitment strategies for better results.
- Empower hiring teams: Equip hiring managers with the necessary understanding of recruitment marketing metrics and budget implications through comprehensive menus, facilitating collaboration and enabling focused efforts on attracting the right talent.
As an employer brand and recruitment marketing leader, you are responsible for developing innovative and productive ways to market your company’s biggest talent opportunities. But what’s the best way to ensure hiring managers across the enterprise know how you can support their efforts?
In the battle for talent attraction, one great tool to leverage is a recruitment marketing menu, which measures the cost, effectiveness, and use cases for different recruitment marketing techniques.
For small teams with limited resources, this recruitment marketing system can help input strategy and budget, which can be essential to segment your enterprise’s needs while showcasing the necessary costs to achieve hiring goals.
We’ll take a look at how recruitment marketing menus can help attract the talent your company is looking to hire.
How Recruitment Marketing Menus Streamline Talent Needs
Many large organizations have lean recruitment marketing teams that are challenged with helping to fill hundreds or even thousands of roles enterprise-wide.
Knowing how demanding it can be to pursue talent and with so many different marketing tools at your disposal, recruitment marketing menus can help segment your organization’s needs into options measurable by costs and results. This approach is critical to show what’s needed to achieve the hiring goals your business units have in place.
Your recruitment marketing menu provides details on how much spending affects applications. The menu can specifically highlight which roles are affected by different recruitment marketing techniques such as email marketing or job boards.
The menu can also highlight your brand’s values relating to talent attraction, such as which options are most effective for attracting hourly and salaried candidates.
It can explain how online display ads, social advocacy, or even Google search ads drive direct applications for each business unit from the accounted spend of each effort.
For example, your menu can detail how the allocated budget for paid social media ads drives a specific amount of interactions, which leads to impressions and clicks, and ultimately to applications.
As a result, hiring managers will have a good understanding of the best use of their recruitment marketing resources and have more context for decisions such as whether or not social media ads make sense for their hiring needs.
If you’re considering using an agency to help hire top talent, your menu can analyze how effective that technique is in filling specific roles. Using agencies can help save time and resources, as Susannah Sack, Director of Talent Operations at Paradox, explained.
“A full-service recruitment marketing agency can act as your liaison between job boards and advertising channels, saving you the time it takes to manage each individual contract and relationship,” Susannah said in a Rally article.
But how can you be sure an agency is the best step to take for filling specific roles? By utilizing a recruitment marketing menu to showcase agency effectiveness, talent leaders can help hiring managers understand if agency support would be their best option.
A full-service recruitment marketing agency can act as your liaison between job boards and advertising channels, saving you the time it takes to manage each individual contract and relationship.
Susannah Sack, Director of Talent Operations at Paradox
Analytics are Necessary
It is critical to understand and analyze how recruitment marketing spending affects direct hiring — though this isn’t always easy to show.
Eric Holwell, Senior Vice President of Strategy at Bayard Advertising, shared why these analytics are necessary for successful talent acquisition strategies.
He shared how looking at analytics in searches, profile views, and conversation rates of emails can help gain insight into which tools are best for talent marketing. He also shared how analytics can help in your talent attraction funnel.
“A talent attraction funnel helps you organize all the data from the first interaction to the last in order for you to know how much awareness you need to drive in order to get the hires you need,” Eric said.
A recruitment marketing menu not only helps you decide on the budget needed to hire for specific business units, but it can help you show techniques used to reach specific hiring metrics.
A talent attraction funnel helps you organize all the data from the first interaction to the last in order for you to know how much awareness you need to drive in order to get the hires you need.
Eric Holwell, Senior Vice President of Strategy at Bayard Advertising
Which Metrics Should You Analyze in Your Menu?
Part of a successful talent acquisition strategy is knowing how to create a good candidate experience and this can’t be done without identifying key metrics for success. How can your recruitment marketing menu help hiring managers to know how to improve the time it takes to get in applications and the budget needed to do so?
Cost Per Hire
Measuring the time it takes for a candidate to apply is challenging. However, a recruitment marketing menu can provide details on how the spend for specific techniques can impact the time it takes to receive applications. This can be vital when facing pressure to fill roles immediately, which Industry Today reported takes an average of 42 days for companies.
Along with understanding the time to fill, analyzing the cost to fill a specific position can help talent leaders inform hiring managers about what’s needed to get candidates to apply.
A LinkedIn Business report highlighted the importance of analyzing the cost per hire.
“This metric can then be used as a benchmark for future hires. This helps guide the amount of investment to recruit for specific jobs and help develop future hiring budgets/plans,” the report noted.
To help develop your future budget, it helps to know exactly how much you should budget for specific marketing techniques to inform hiring managers how much they can expect in return.
Budget Needed
Although recruitment marketing teams are responsible for helping to attract and retain talent, ultimately, it’s up to hiring managers to provide the budget needed to bring in new hires.
Recruitment marketing menus give insight into the recommended budget needed to achieve specific hiring goals. It’s important to understand this budget to provide support to hiring managers, as Tim Sackett, President of HRU Technical Resources, noted.
“The hiring managers we serve expect that we’re bringing in the best talent, but to do that you have to know what the leaders in the recruiting field are doing,” Tim said in a SHRM article.
Your recruitment marketing menu should be able to show how budgets for techniques like job boards drive direct results. By understanding how a certain amount of spend on a job board can yield, you can better set expectations with hiring managers around average job posts, clicks, and applications.
Knowing these metrics could help talent leaders at large companies streamline their recruitment marketing efforts and create focus on techniques that bring in the right talent.
How Do Talent Leaders at Large Companies Use Recruitment Marketing Menus?
A group of senior employer brand and recruitment marketing leaders at the world’s largest companies will be showcasing their recruitment marketing menus on Wednesday, August 17, at 1 PM ET.
In a private, vendor-free leadership discussion hosted by the Talent Marketing Board, talent leaders at Aramark, Citizens Financial Group, and Lockheed Martin will share insights to their employer brand and recruitment marketing menus. They will dig into the cost, effectiveness, and use cases for different recruitment marketing techniques.
This will be an exclusive, behind the scenes look at how Talent Marketing Board members strategize the cost-effectiveness of their strategies.
If you are a talent leader at a billion-dollar company, it will be a great opportunity to learn from your peers at other large companies about how they’ve implemented tools to effectively attract thousands of candidates.
