“I have hundreds, thousands and sometimes even millions of qualified candidates in my database. Which of those should I reach out to and engage with today?”
If I were a recruiter, this would be the question I would ask myself daily.
Every recruiter would prefer to take a hire or placement out of their own database of qualified candidates, over having to create a whole new sourcing or attracting process. It saves them time, decreases time-to-hire / placement, resulting in happy (internal customer).
However, as their database expands, so are the challenges.
This is where candidate engagement scoring comes in.
What is candidate engagement scoring?
If you’re familiar with the concept of ‘lead scoring’ in marketing and sales, you understand how much this helps marketers identify their top leads that are ready to convert.
In case ‘lead scoring’ sounds alien to you, let me give you a refresher:
“Lead scoring is a methodology/model often used by sales and marketing to score leads based on data gathered on those leads, determining the current worthiness of these leads.”
What if you could apply the same concept in recruitment? In other words, what if your recruiters could identify the hottest, on-the-move candidates in their database?
Why do you want to score your candidate based on their engagement?
Candidate engagement scoring helps your recruiters identify the hottest candidates based on their behavior: namely, those who are engaging with your marketing campaigns and visiting your website often.
Picture this: you have a great candidate in your database who hasn’t shown any engagement for a long time. Then, you suddenly see him visiting your website several times in the past week and reviewing a few jobs. Chances are he’s ‘evaluating their options’, right?
By using this data and turning it into an engagement score you assign to your candidates, recruiters can then focus on the hottest candidates and reach out to them at the right time.
Once you know your candidate has a high maturity score, that’s when you know you can make the call.
Why is candidate engagement scoring useful?
1. Happy, productive recruiters:
Recruiters will spend more of their time engaging with the hottest quality candidates in their database at the right time, and less time on sourcing/screening new candidates/applicants. This will not only make them more productive (more hires/placements per recruiter per month) but will also make their job much more fun.
2. Happy customers and a more successful business:
When you super power your recruiters like this, it will translate to a lower time to fill/placement, resulting in a happier customer/hiring manager and a more successful business. The faster you can fill jobs with good candidates, the more revenue you make, whether you are a recruitment agency or an employer.
3. Higher ROI on investment in attraction/sourcing
Very often we invest a lot of money and time in attracting/sourcing candidates. That is not a problem, as human capital is worth a lot. Let me rephrase; it’s everything.
However, we must be aware of ‘the leaks in our game’. In the short term, we often only capitalize on a small part of our work. Great candidates who we don’t immediately place or hire go into ‘the black hole’, which is a waste! This approach of candidate engagement scoring helps you get a higher return in the long term on your initial hard work and high budget.
At the end of the day, you want your work to produce results and your investment to yield returns. Candidate engagement scoring is a great help with regards to getting the most value out of your existing database and making your recruiters more productive and happy.
If you want to learn more on how to score your candidates, contact us here and we’ll be happy to share more:)