It is a management strategy that falls within the larger strategic human resource planning concept. This approach seeks to optimize and measure the transaction of applicants progressing through their recruitment phase until they become active employees in the organization. Recruitment funnel effectiveness is primarily used to manage and control recruiting costs by ensuring that each step along the recruitment and selection process delivers quality talent at a minimum cost.
Awareness: At this stage, the organization needs to build enough awareness, so the candidates know about the company, what it does, and what role they are applying to. The awareness stage is only meant to create brand awareness among potential candidates.
Attract: At this stage of recruitment, the company needs to attract potential candidates. They can do so by crafting polished job descriptions and offering tempting offers and benefits. Clear job descriptions will attract high-quality candidates.
Interest: At this stage of the recruitment, the candidate shows interest in the company. They may not have applied to the role yet, but they will showcase their interest by trying to get in touch with the recruitment team.
Application: In the application stage, candidates start applying for the role. This stage is extremely crucial because many candidates give up on the application halfway through. Companies need to ensure that their application forms are not too long and detailed. Remember, candidates are applying to many jobs/ companies and find the process cumbersome. Let the application be detailed (containing all the necessary information) but short.
Pre-selection: This phase is up to the recruiter. They have to screen the candidates from the talent pool and shortlist the ones best suited for the role. Organizations need unique screening methods to test the candidate’s aptitude, skill set, and attitude to decide whether they are fit for the role.
Interview: In this stage, shortlisted candidates are interviewed by the relevant stakeholders and their skills are analyzed.
Hiring: In the last stage of the funnel, candidates are selected, and the company makes them an offer. They can either accept or reject the offer.
A recruiter’s recruitment effectiveness can be measured based on KPIs such as time to hire, cost per hire, quality of hire, candidate experience, and diversity metrics.
Funnel analysis means analyzing the entire recruitment funnel and all its stages, identifying the issues slowing down the process, and fixing them.
The top of the recruitment funnel is awareness when a company creates brand awareness among potential candidates by posting job listings and focusing on paid ads to grow its brand identity.
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