How to Run Competitions within a Recruitment Agency
Recruitment agencies depend on their numbers:
Your clients want to fill empty positions.
You want to know that your time-to-fill is faster than a bullet train.
However, your results depend on the performance of your recruiters.
In this article, we’re going to show you how to boost your results by running competitions in your recruitment agency.
Why Should You Run Competitions in Your Recruitment Agency?
Competitions are beneficial to any business that relies on employees to bring in new business and retain the existing clients.
This is especially true for recruitment agencies. You need your recruiters to constantly attract new candidates, schedule interviews, and pair the most successful applicants with companies looking for people just like them.
However, recruiters can become disengaged with their jobs.
Sure, they’ll perform their tasks. However, they’ll be more prone to slouching off, or simply going through the motions.
All of this is potentially problematic for recruiting agencies.
You need your recruiters to stay sharp and creative.
But if they don’t feel recognized, if they don’t engage with their jobs… Then you’ve got a problem. According to Best Companies Group, 67% of employees are not engaged, and that disengagement costs companies $450-500 billion annually.
Fortunately, you can easily fix recruiter disengagement with competitions.
Staff turnover is reduced at highly engaged workplaces (employees love their jobs)
Engaged staff have higher customer scores and see increases in sales
Businesses with engaged staff increase their profitability
And while motivating your recruiters is a process, you can kick-start engagement with the help of recruitment agency contests.
We’re glad you asked!
How to Run a Competition at Your Recruitment Agency
It’s time to add a little healthy competition to the mix. Here’s how to get started:
1. Know Your Goals
Before you set up a competition, make sure you know what the goal is.
While recruiter engagement is the #1 goal, you should also set SMART goals. They’re easy to track, and they help motivate employees in the short and in the long term.
Start by looking at your current results.
Are there any areas that need improvement?
For example, your placement rates may not be high enough.
Understand the causes behind the issues. In our previous example, placement rates, your candidate pipeline may need some work.
Your goal in that case could be to attract more candidates within a specified timeframe.
2. Set Your KPIs
Some of the most important KPIs to track during a contest are:
Fill rate – Your fill rate is indicative of your recruiters’ engagement, as well as your agency’s overall success.
Time to fill – The quicker your recruiters fill positions, the more efficient will your agency be. If your recruiters take a lot of time to fill positions, it may be a sign of job disengagement.
Interview to placement rate –How many of your candidates have been successfully hired? This is a great, tangible metric to use in a competition.
Activity – Tracking activities is a great way to motivate your recruiters. You can track activities related to candidate pipelines, as well as hiring activities. If your recruiters take a lot of action (e.g. send emails, increase their submittals, etc.), they’ll be more engaged.
The KPIs you’ll track for your contest depend on your particular goals.
However, activities are always a great KPI to track as they instantly improve performance.
3. Set Up Your Contest
The first rule of the contest club is: you visualize your data.
If recruiters can’t see that their effort counts towards the ultimate goal or target, they won’t be motivated to put in the work.
Now, you could set up an informal contest and track it as you regularly would. Perhaps, through your CRM.
However, that means very little to your recruiters.
They still won’t be able to see that their work is meaningful. They won’t get the feeling like they’re actually competing. Instead, it’ll be just another “thing” the top management is doing.
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Serial entrepreneur who loves a deep dive into technology and applying it to solve business problems. Matt recognized that gamification of business activity processes would lead to greater staff engagement, increase productivity and motivate the team to do more, so that businesses sell more and grow more.