Are bad habits with data damaging your recruitment business?
How much of your CRM is peppered with inaccuracies, gaps, or simply overdue a deep clean? When it comes to data, you only ever get out what you put in.
Quality in. Insights out.
When your data is compromised then so is almost everything you’re drawing from it. That means you could be building your financial projections, management reporting and performance metrics on inaccurate figures.
If you want intelligent and actionable insights then your data needs to be clean, accurate… and there has to be plenty available when you need it.
As an industry, we’ve historically tolerated data inaccuracies as par for the course. It’s become so pervasive that almost half of agencies question the accuracy of their data and struggle to access the information they do have.
Unless you have a team of analysts waiting in the wings, how are you going to conduct a health check of your CRM?
Attaching a cost
Research from Gartner sets the price tag as a 25% reduction in potential revenue.
How do you quantify the cost of a poor decision based on inaccurate data, or the price of missed opportunities?
What we do know is that oversights will cause a chain reaction in recruitment. Leads go unfollowed, successful activity goes unlogged, jobs aren’t covered properly and you prioritise the wrong activity.
It all comes back to the quality of the information going in and the management of that process. There need to be measures in place to ensure information is logged, processed, certified and actioned.
Without doubling down on resources and personally overseeing data entry, how can agencies tackle data quality?
Incentivise data entry
When data entry is a box-ticking exercise it’s positioned to fail.
Consultants won’t understand its involvement in simplifying their work and improving their conversion metrics.
You can also align your data entry to your KPIs and gamify the entire process to encourage its use. When people understand the reason they are more inclined to get behind it.
Visualise the process
If the gaps to data entry are noticeable and accountable then they will very quickly be addressed.
Recruitment is a performance-based role and the public visibility of data logging, or lack of, is a sure-fire way to incentivise staff.
Consultants who aren’t seeing the benefits from their CRM aren’t going to be inclined to allocate time away from the phones to log their activity.
Make sure the information and insights at management level are travelling to those in the field so that they understand what’s trying to be achieved.
If you last cleaned your database over a year ago then according to Salesforce, over two-thirds of the data you’re working with should be retired.
Do you have a process for flagging inaccuracies or a litmus test for the data you are actually using?
It’s only with good quality data that your able to identify the staff that are underperforming, where the training is needed, the activity to prioritise and ultimately how to grow your bottom line.
At a ground level, consultants are able to work with increased efficiency, close more deals and secure the recognition they deserve in the process. Ultimately, they earn more commission and the agency scales quicker.
In 2019, improving data accuracy will mobilise your CRM and directly grow your bottom line… but more importantly, you’ll be able to see and understand why.