What happens after you decide to partner with a temp staffing agency to maintain adequate workforce for your business? Once you have identified your objectives, worked on your job descriptions and selected the right company, you will need to know what’s next.
You will need to determine what metrics will best evaluate and measure your efforts and the efforts of your partnership with the staffing agency. John Smith, the recruitment manager at ABC Company, advises that it’s crucial to use measurable goals and metrics to monitor your staffing efforts and step in at the right time to correct any unfavourable situation. The metrics recommended in this article fall into several categories:
1) FINANCIAL METRICS:
You can use cost-related metrics, such as total cost, reduction in operating costs and return on investment (ROI). Another option is to use recruitment-specific metrics such as recruitment costs per position.
When using the time-to-fill measure, you can transform this time into a monetary value by assigning the wages of your recruitment team as well as the lost revenues of not filling the position.
2) EFFICIENCY METRICS:
Many parameters can be used to measure the efficiency related to temp staffing. For example, time-to-hire is a good measure that evaluates how effective the agency performs regarding filling vacancies and satisfying your business needs. You can also use metrics related to worker’s efficiency such as productivity rates and how often problems and conflicts arise.
3) QUALITY METRICS:
You cannot evaluate staffing success without measuring the quality of products and services provided by the temp staff. Based on your business and the type of goods or services you produce or provide, you should use the same quality metrics you typically use for your permanent staff when evaluating the abilities of your temp staff regarding accuracy and adherence to quality standards.
4) SERVICE METRICS:
Although working with a staffing agency is a partnership, you need to be sure to measure the service level of the agency. For example, you can use candidate slates time, which measures the amount of time the agency takes to provide a client with a short list of potential candidates. The time required to refill a previously filled position is imperative. Sometimes, a temp worker does not perform their job correctly, or leaves the position for any variety of reasons, leaving the agency to hire another candidate to refill the position and maintain business continuity.
The quality of the candidates is also very important. The staffing agency must make sure that the candidates presented to you have the required skills so you do not waste time interviewing candidates you will never select.