In times of a shortage of skilled workers and competitive pressure, it is crucial to make the recruiting process efficient and effective. One tool for this is the applicant funnel, a metric that shows the different stages that a candidate goes through during the application process. This article gives you a clear overview of the candidate funnel and shows you how you can use it to improve your recruiting strategy.
The three most important questions about the candidate funnel
What is a candidate funnel? Imagine dumping a bunch of applications into a funnel - to put it simply, that's your applicant funnel. At the top end are everyone who applies. The ones you hire come out at the bottom. In between there are various stages (or stages) that a candidate has to go through: application, pre-selection, interviews, and so on.
How can you measure the candidate funnel? Creating a detailed candidate funnel is often not as easy as it sounds, because your candidate data must be well maintained for the funnel to be usable. So make sure to sensitize your recruiters to always maintain the candidate's levels directly and not days or even weeks later. Otherwise you risk incorrect leads in your candidate funnel.
What does the candidate funnel tell you? The candidate funnel answers the most important questions in a recruiter's everyday life: Where do we lose the most candidates? How long does each stage last? How many get through to the offer? Once you have these answers, you can take appropriate measures to counteract them.
With beyobie you always have an eye on your candidate funnel and can see in real time where your candidates are currently located.
2. How do you optimize the candidate funnel?
Your candidate funnel will most likely become narrower towards the bottom and that's how it should be, after all you won't hire all the candidates who apply. However, you may find that you have potential for optimization at one point or another in the funnel.
You may then ask yourself the following questions:
Why do we lose so many candidates right at the beginning?
If many candidates are rejected during the pre-selection process, the job description may need to be clearer. In any case, hundreds of applications do not automatically mean that your recruiting will be child's play - after all, you only want the best people for your job and if it is not well defined that only the candidates who really suit you and your requirements apply. you have to spend a lot of time pre-selecting.
Why do some stages take much longer than others?"
In most companies, it’s not just the recruiters who are involved in the application process. Especially during job interviews, several loops are often turned - the first interview with the recruiter, the second interview with the team lead and finally with the managing director. If all parties are not informed in good time that they have to make time in their calendars, a candidate can wait a few weeks for an interview. And we all know a long process can deter top candidates.
What can we do to improve the candidate funnel?
Questioning your process is always the first important step. What can you automate? Who do you need to include? Basically, it is always a good idea and often a quick way to improve to keep candidates up to date. Nobody likes waiting weeks for an answer. However, the wait becomes more pleasant when you know where you stand. Be transparent about what each step means and how long it is expected to take and ALWAYS ask for feedback.
Let's summarize
The applicant funnel is more than just a fancy HR term. It is a tool to understand and improve the application process. With a well-optimized applicant funnel, you can ensure that you not only attract lots of applicants, but the right ones, and guide them through the process. So, ready to rock the funnel?