People working in HR often swear by the recruitment funnel framework, as it is specially designed to help them navigate through a pool of candidates to find the best fit for their company. Whether you want a permanent employee or are looking for contractual hires – this is a widely-utilized system.
If you are a company looking to hire the best candidates for your operations, consider the recruitment funnel technique. This article will provide a brief overview, with explanations of what is a recruitment funnel, what is funnel analysis in recruitment, its stages, and more.
Recruitment Funnel Meaning and Purpose
Let us first dive into the basics and understand what a recruitment funnel is. It is an end-to-end framework that encompasses a talent acquisition process; from the moment a company posts its job description up to the point where an offer letter is signed and a new employee is onboarded.
The purpose of a recruitment funnel is to help companies obtain the best-fitting candidate in the most hassle-free and convenient manner. It helps companies narrow down the wide pool of applicants until they are only left with the top candidates.
Each stage in the recruitment funnel has different stages which are equally important in securing the best candidate.
Why Use a Recruitment Funnel?
Simply put, a recruitment funnel helps companies frame a scalable and systematic process for hiring the best candidates. It is of great help to HR to break down and effectively understand the hiring process and its stages – so that they can gather data to aid the organisation in understanding where the company stands in the recruitment process.
By analyzing the data of the recruitment funnel, a company can determine areas of the hiring process that may need change or more focus.
Stages of a Recruitment Funnel Explained
Let us further understand what is a recruitment funnel by breaking down its various stages:
- Awareness
The first step is creating awareness about your company and the open job roles. With higher brand recognition, you have a wider pool of applications – thereby more choices to select from.
- Attraction
Your job descriptions and recruitment strategy are of paramount importance when it comes to attracting applicants. You can write creative job descriptions, post on multiple platforms, conduct outreach campaigns and even showcase the incentives of working in your company to attract more applicants.
- Interest
Once you have a pool of applicants, they will be researching your company, social media channels, job role, and even reviews of past employees. To retain the applicants, you can scale your digital presence, provide ample information, and provide requested information to applicants.
- Application
Upon applying, the candidates and company take a few weeks to a few months to determine whether they are a good fit. As a recruiter, you can ensure that the application process is not too long-drawn or complex, that candidates are updated with the process, and more.
- Evaluation
After the application process, the company must examine the candidates’ potential to gauge the right fit. If you have many applicants, you could use resume screeners or a quality ATS system.
Ensure to test the soft and technical skills of your candidates, interview them, and more.
- Interviewing
What is a recruitment funnel without the interview process? Not much, as this is a very important step. Interviews help both sides understand each other’s needs and determine whether they make a good fit.
Ensure that candidates are updated about the interview dates and times, that the interviews do not take too much time, and that the several rounds help you gauge a candidate’s potential.
- Hiring
Upon finding the right candidate, you begin the hiring process! The salary and other terms are negotiated, an offer letter is sent, and the employee signs it. The next step is your onboarding process, which will help your employee assimilate into the company quickly.
What is Funnel Analysis in Recruitment?
Let us understand what is funnel analysis in recruitment. Funnel analysis in recruitment is a method of tracking and analyzing the flow of candidates through the hiring process. It involves examining each stage of the recruitment funnel to identify areas for improvement, bottlenecks, and opportunities for optimization.
Funnel analysis can help companies improve candidate experience, reduce the hiring process length, make better hiring decisions, identify which sources yield the best candidates, and determine how many applicants are needed to fill certain job roles.
Steps to Create an Effective Recruitment Funnel
The steps to create an effective recruitment funnel involve:
- Having a strong brand identity
- Implementing strict measures to eliminate hiring bias
- Keeping candidates updated with the process
- Posting about the job roles on multiple platforms – which means you must have a presence on those platforms
Tips for Maximizing Your Recruitment Funnel’s Effectiveness
Here are some steps to maximize the efficiency of your recruitment funnel:
- Set clear recruitment goals (e.g. how many candidates you require for which job role).
- Build ample brand awareness so that you can attract a wide talent pool.
- Write compelling and honest job descriptions as this will help you obtain people who are truly passionate about the job.
- Improve the experience of applicants and keep them informed throughout the application process.
- Use metrics to understand what stage of your recruitment funnel is working and what requires change or improvement.
Conclusion
The process of creating an impactful and efficient recruitment funnel can get tedious and complicated. If you’re seeking a stress-free solution to hire permanent and contract staff, consider partnering with BGC Group, your trusted HR partner, and hire the best talent to take your company to new heights!
Contact us today for a consultation!
