Metrics that Matter: FlowThrough
Continuing our series reviewing Talent Metrics that Matter. In this post we’re going to review flow through rates.
Flow through rates are an excellent way to measure multiple steps in a process. It measures the level of efficiency of each step in the process by percentages from one step in the process to another. In a recent example with one of our clients they engaged us for our Process Improvement Service Offering.
Below is a flow through ratio from before they engaged Titan.
Prior to engaging us to drive process improvement, the client had 60% of the phone screens pass through to the interview phase. Then 55% of the interviews conducted passed through to offers. Following that 70% of those candidates that made it though the process were extended offers, and so on. We were able to arrive at these results through a combination of leveraging their applicant tracking system data as well as some minimal manual calculations. We then applied our process improvement methodology in conjunction with their team to arrive at the following flow through rates after they engaged Titan.
Once we completed our process improvement engagement we saw improvements of up to 10% dependent on the steps in the process. The client now has a more efficient function with higher outputs overall leading to less effort and man hours to complete their target hiring goals.
If you’d like to learn more about how we can help you improve your flow through rates then Contact Us!