Reporting tools are a necessity in staffing as they are across the business world. Companies that make frequent, data-based decisions are more likely to respond quickly to industry changes and continue to increase revenue. Many staffing software platforms come equipped with reporting tools, but which reports are must-haves? The right software solution will have analytics tools to help you improve processes across your business based on the information you put into the platform each day. Here are some reporting tools you need in your staffing software:
New Business: It's absolutely crucial to know how much new business you bring in. New business equals more sales and growing revenue. Jobscience's New Business Dashboard provides insight into the number of leads, accounts and jobs your sales team generates, in addition to other information. This data also gives you insight into jobs being created and what type of talent pipeline you need to develop in response.
Business Forecast: It helps to have a tool that allows you to quickly assess how successful you actually are. See the difference between forecast and actual business and a breakdown of each recruiter and job title. This allows you to ascertain where revenue is coming from and what, if anything, is detracting from growth.
Profitability: This dashboard helps finance and operations review the staffing agency's highest value assets to make sure the company focuses its energy in the right places to drive profitability. This dashboard shows a quick rundown of pipeline value, top performers, top candidates and even what type of business is driving the most growth.
Ratios: Use ratios to gain deeper insight into your operations and determine what accounts pay the best margins or have the highest close rates. What titles do you convert most frequently? What is your gross margin on contract positions? Your average fee? Optimize your time based on this data; spend more time working on positions that drive performance.
Recruiters: Analyze individual recruiter performance based on candidates and jobs created, as well as call rates and fee generation. This information isn't just helpful for managers, but recruiters as well. Keeping recruiters informed helps them know where they stand and improve their performance over time.
Data quality: The platform is really only as good as the information that's in it. Without high-quality data, you won't be able to meet your goals. That's why Jobscience has a dashboard devoted to data quality, including how fresh your resumes are, how many contacts have bounced email addresses and more.
Usage: Do you suspect your recruiters may not actually use the staffing software? Now you can know for sure. The adoption dashboard tells you how many times each recruiter logged activity each month and the total number of log ins. The greater the adoption levels, the more effective your team will be. Make sure the numbers trend upward.
It's important to have staffing software that streamlines your workflow and allows you to easily keep in touch with clients and talent pipelines, but it's also crucial to gain actionable insight into daily work. Make sure your staffing software has the right reporting tools to help you drive business.