Job Board ROI: Measuring what you Manage – Sourcing!

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With 2012 fast approaching, I started thinking about resolutions for the new year. We all have our personal resolutions (usually involving fitness and eating healthier) and our work resolutions (achieving goals, being more organized and improving processes). But something I heard David Szary from LEAN Human Capital say at our 2011 user conference really made me think of a resolution a lot of recruiters probably have for this year – tracking their efforts more accurately and consistently. He said, “You can’t manage what you don’t measure.” This holds true for every department within an organization but especially HR. Traditionally, the “post and hope” ideology has been acceptable in many organizations. But with today’s HR technology, the movement to measure how your advertisements are truly performing is growing.

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Judie Goe, Director of Talent Acquisition and Development at Scottsdale Healthcare, was also at David’s session on recruiting metrics at our user conference. Judie has an extensive background in healthcare HR at the executive level and HR consulting expertise. She’s seen trends come and go and witnessed the advent of new technology designed to improve HR processes for healthcare.

Never one to shy away from change and progress, Scottsdale Healthcare is one of four hospitals to pilot our new HR solution – Sourcing Manager. Judie was the presenter at our recent webinar on Sourcing Manager; I sat down to speak with her after the presentation to get her thoughts on tracking your sourcing efforts. Here’s a breakdown of what Sourcing Manager does, what we found out from studying our four charter hospitals and Judie’s thoughts on measuring job board ROI and changing the recruitment process within healthcare.

What does Sourcing Manager do?
Sourcing Manager provides comprehensive ROI metrics for all online media spend. You can filter the performance metrics for your online media by category, by recruiter, by facility, or by department. This solution simplifies and automates the job posted process from our applicant tracking system, Position Manager. Sourcing Manager users can also utilize unique click URLs to track sites that don’t automate postings (i.e. Craigslist).

The Data.
In the beta stage of Sourcing Manager, we worked with 4 hospitals. With over 4K applicants, we found that 7% were sent to Hiring Manager, about 2% were interviewed and only 1/2 of 1% ended up being hired.

Why is Tracking your Sourcing Important?
Candidate self-select is the traditional way to measure sourcing and by its very nature breeds inaccuracy. With candidates using the self-select source menu, our report on the four charter hospitals shows that the candidate chose the source we tracked electronically from the drop down only 18% of the time. Judie noted, “Our drop down list is so long that I think it’s very confusing [for candidates to choose the right source] because there’s just so many there.”

What Does Sourcing Manager Track?
First, quality of applicant: outcomes by job board. Also, you can report on cost breakdowns by disposition. Second, ROI: Cost per Click, Cost per Application, Cost per Send to Hiring Manager, Cost per Hire.

Why Implement Sourcing Manager?
“We need good data to justify our media spend,” said Judie.

Changing the Process.
“I think that you need to be on top of your organization’s initiatives and what is happening in the healthcare industry as a whole. Because of the impact of reimbursement decreases, I needed to look carefully at my operations and see how can I have an impact and be of value to the organization. We’re looking at everything that we’re spending money on and looking at how does recruitment really has an impact on patient safety and how it impacts HCAHPS scores, and we’ll be looking at all of the things that recruitment can add value to. With this technology, we are going to look at and evaluate our sourcing process right now and determine where we are adding value to our organization,” said Judie.

Judie’s advice for making the transition to tracking your sourcing is, “You need to have all of your recruiters involved in changing the process. Educate them first.”

The of Value of Measuring what you Manage.
Hospitals typically spend the most money on hard to fill positions: Show finance why you’re spending money where you’re spending money. What is the value of being able to measure your job postings in terms of how they’re performing in terms of the overall quality of the applicants they send and the ROI you get? Tracking your spend against the results. For example, our four beta clients were spending $3800 in media costs per hire.

According to Judie, “There’s organizational value from the standpoint that dollars are spent on recruiting for the positions that you normally have and wouldn’t have enough valuable data on.  RN positions, especially in ICU, OR, surgery and any other very hard-to-fill clinical positions, like OT and PT, where you’re routinely doing some kind of outreach to that professional group. The value is being able to really hone in and say, ‘We know for a fact that XYZ publication or XYZ job board is going to give us the best candidates in the shortest period of time with the best return on investment.’ And then from a recruiters standpoint, it makes my life so much easier because I know that if I get a posting for an ICU RN that all I have to do is look at my data and say, ‘Okay, the last time I did this, my ROI was this, so that’s what I’ll do (or not do) this time around.’  Finally, when I’m talking to the Hiring Manager I’m able to say, ‘Okay, the last time we did this job this is what we did; here are the people you hired from that. This is my recommendation of what we do this time. Let’s set a meeting to get back together in two weeks to see how we’re doing.’  Measuring your job board ROI just makes the process so much less frustrating.”

Surprising Results…
One of our beta clients discovered that a niche job board was out performing the national competitors: 2 out of 20 applicants were hired through this lesser known source. Remember, it’s about measuring candidate quality (i.e. How far did they get in the process?). As Judie said, “We don’t need more candidates; we need better candidates.”

About The Editorial Staff

The Editorial Staff is a team of writers with a passion for helping healthcare organizations manage their biggest and most important investment: their employees.