Calculation of the transformation rate: all

The conversion rate is a key performance indicator (KPI) essential for evaluating the effectiveness of your recruitment processes. It is calculated as follows:

Conversion rate (%) = (Number of hires / Number of applications) x 100

By measuring this ratio, you can optimize your strategies and improve the performance of your HR team. Use our CRM tool to calculate the conversion rate and strengthen your employer brand.

What is a recruitment conversion rate?

The recruitment conversion rate measures the percentage of applications that result in hires. This is a crucial ratio for evaluating the effectiveness of your marketing campaigns and recruitment strategy. This mathematical formula allows you to track your performance and identify pain points in the candidate journey.

Importance of calculating the conversion rate

Calculating your conversion rate helps identify roadblocks in your candidate journey. This allows you to test and optimize your sourcing, segmentation, and communication methods. By better understanding your statistics, you can improve your marketing strategy and increase the ROI of your recruitment efforts.

Conversion vs. Transformation

The conversion rate transforms visitors into leads, while the recruitment conversion rate converts applications into hires. Understanding this distinction is crucial for accurate analysis.

Calculating the conversion rate

Formula:

Conversion rate (%) = (Number of hires / Number of applications) x 100

For example, with 200 applications and 20 hires, the rate is 10%. This divisor measures the effectiveness of your recruitment efforts.

Transformation coefficient

The conversion rate is an advanced variation that incorporates additional variables such as application quality and recruitment time. It offers a more detailed analysis of your processes.

Good conversion rate

A good conversion rate varies depending on the industry and objectives. Generally, between 10% and 20% is effective. Compare your rate to industry averages and aim for continuous improvement through best practices.

Conversion rate tracking

Use analytics and CRM tools like Marvin Recruiter to collect data, visualize interactions, and analyze relevant KPIs. While Marvin Recruiter doesn't directly calculate conversion rates, the data it provides allows you to calculate them effectively. These tools help you measure the effectiveness of your recruitment campaigns and achieve your profitability goals.

Tips for a high conversion rate

Optimize the sourcing strategy

Optimize your sourcing strategy by using job boards, social media, and targeted advertising campaigns to attract the most qualified talent. Segmenting your marketing campaigns increases your qualified traffic and your ROI (Return on Investment).

Improve the candidate experience

An excellent candidate experience is essential. Simplify the candidate journey by optimizing your landing page and reducing friction points. Use effective assessment tests to quickly identify candidates' skills, thereby fostering retention and increasing conversions.

Use advanced tools

Invest in tools like Marvin Recruiter, which combines ATS and CRM. These solutions centralize data, facilitate resume matching, and automate follow-up campaigns. Leverage artificial intelligence to analyze data and refine your marketing strategy.

The conversion rate, a key performance indicator

The conversion rate is a KPI used to evaluate the profitability and performance of your recruitment efforts. It measures the effectiveness of your campaigns and identifies opportunities for improvement. By using accurate statistics, you can adjust your strategies to maximize your conversion rates.

Calculating and managing an efficient conversion rate

Formula and tips

Conversion rate (%) = (Number of hires / Number of applications) x 100. For example, 300 applications and 30 hires give a rate of 10%. This division measures the effectiveness of your recruitment efforts.

Transformation coefficient

Incorporate variables such as application quality and recruitment time into the formula for a more detailed analysis, thereby identifying points of friction.

Good conversion rate

A rate between 10% and 20% is generally effective. Compare it to industry averages and continuously improve it using best practices and performance indicators.

Tracking with analytics and CRM tools

Use Marvin Recruiter to collect numerical data, visualize interactions, and analyze KPIs. This allows you to measure the effectiveness of your recruitment campaigns and achieve your profitability goals.

Creating a high conversion rate

Sourcing and collecting candidates

Use job boards, social media, and referral programs to collect applications. Gather relevant data on each candidate to increase your qualified leads and optimize your chances of finding top talent.

Profile segmentation

Segmenting candidates by skills, experience, and other criteria allows for quick access to suitable profiles. Use CV databases to efficiently organize and manage your profiles, identifying promising leads and personalizing your communication campaigns.

Centralization and organization of information

Centralize information in a single database with a CRM for recruitment. Automate processes and improve candidate relationship management. This allows you to track leads, measure KPIs, and test different strategies to maximize your conversion rate.

To cultivate and maintain a pool of candidates

Animation techniques

Use automated newsletters and follow-up campaigns to maintain candidate interest. Organize recruitment events and customer journey workshops to strengthen relationships and showcase your talent, thereby increasing retention and reducing churn.

Update and follow-up

Keep your talent pool regularly updated by tracking applications and updating profiles. Use KPIs to measure candidate performance and engagement, enabling proactive management and strategy adaptation.

Communication and engagement

Maintain consistent communication through social media and newsletters to retain talent and increase your employer brand visibility. Use targeted advertising campaigns to attract and engage prospects.

Tools to optimize talent pool management

ATS and CRM

Applicant Tracking Systems (ATS) and CRMs are essential for managing and automating your talent pool. They centralize data, automate tasks, and enable candidate scoring. Use tools like Marvin Recruiter for integrated and efficient management.

CV Matching

CV matching pre-qualifies candidates by matching skills and experience with available positions, accelerating the recruitment process and improving selection. Use mathematical formulas to increase conversion rates and maximize your performance.

Engagement Strategies

Implement targeted re-engagement campaigns with personalized newsletters and communication campaigns to maintain candidate interest. Social media advertising campaigns increase your employer brand visibility and attract new prospects.

Other rates to watch

In addition to the conversion rate, monitor other KPIs:

• Bounce rate : % of visitors leaving after a page, indicating content or navigation problems.
• Engagement rate : Candidate interaction with your content (newsletters, social networks), reflecting their interest.
• Click-through rate : the number of clicks on your ads or emails compared to impressions, measuring the effectiveness of advertising campaigns.
• Dropout rate : candidates interrupting their application, revealing obstacles in the contact form.
• Retention rate : ability to retain talent after hiring, essential to reduce turnover.
• Satisfaction rate : feedback from candidates on their recruitment experience, providing insights to improve your methods and strengthen your employer brand.

Achieve an optimized conversion rate with Marvin Recruiter

With Marvin Recruiter, calculate and improve your conversion rate using our all-in-one SaaS software. Our tool combines ATS and CRM for proactive management and optimal data centralization.

• Proactive management : Anticipate your talent needs with advanced segmentation and a structured talent pipeline. Use mathematical formulas to analyze your KPIs and optimize your ratios.
• Lasting Relationships : Maintain lasting relationships with passive candidates through effective communication campaigns. Strengthen your employer brand and increase talent retention.
• Profile enrichment : Enhance your profiles by adding qualitative and quantitative data for optimal matching. Analyze skills and identify the best candidates with advanced tools.
• Advanced tools : Automate assessment tests and candidate pre-selection with our recruitment CRM. Optimize your recruitment process and improve your conversion rate with AI.
• Skills analysis : Identify key skills and conduct a rigorous profiling. Use performance indicators to track and improve your performance.

With Marvin Recruiter, centralize your data, visualize interactions, and analyze skills effectively. Collect unsolicited applications, optimize pipeline management, and strengthen your positive employer brand. Through candidate scoring and KPI analysis, improve your recruitment strategy and ensure rigorous selection.

Calculating and managing an effective conversion rate is crucial for optimizing your recruitment process. By segmenting your profiles and using advanced tools, you can improve your recruitment strategy, increase responsiveness, and ensure lasting relationships with your talent. Optimize your conversion rate for rigorous selection and optimal talent retention.