What You Don’t Measure – Doesn’t Count!
“Measuring for success” is a phrase that moves the focus of measuring to what is possible. In activities that are more complex, it is simply about finding methods of measuring a series of activities throughout the placement process and adjustments along the way to achieve the desired results.
- Measurements of activities in sales provides feedback to:
- Set standards for activities that lead to desired sales results.
- Measure the activities at different parts of the sales process.
- Make adjustments to activity areas that need improvement.
- Measure against the new results and then the process is repeated.
There are certain ratios and statistics that are critical to measure in order to determine the exact results you need to accomplish each day. In the future, this will help you manage your team if you grow your business.
Important ratios to measure include:
CANDIDATE SIDE OF THE PLACEMENT PROCESS:
- Recruiting Call to Hit
- Hit to Interview
- Interview to Send-Out
- Send-Out to Placement (most important number to track)
CLIENT SIDE OF THE PLACEMENT PROCESS:
- Marketing Call to Job Order
- Presentation to Send-Out
- Job Order to Fill
Once you know your stats and ratios you will eliminate the possibility of slumps. You will know the exact results you must achieve each day to attain your goals. It’s NOT about the number of calls you make, but rather the results you achieve.
Without measuring stats and ratios the sales process can appear to be intangible and complex.
This can cause anxiety because you don’t know:
- How to determine production in the coming month, quarter or year.
- How to measure who is attaining the results to actually close placements.
- What standard to use when hiring new members of your Sales Team.
- How to set minimum result standards.
The job market has become more competitive and it’s clearer than ever before that success comes from measuring and making adjustments and measuring the results following the adjustments.
WHAT YOU DON’T MEASURE – DOESN’T COUNT!