This isn’t where I tell you that you need mad awesome crazy data to make this work or bust.
Or that you need to think like a marketer.
There is a very simply way to track Source of Hire:
Y% internal / temp labor conversion
Done. When you can do that consistently, and track the overall costs of each per hire for those categories, you are a pro.
Oh wait…did I mention you need to have visibility to the costs??
- Referrals are impacted by social media, corporate branding, team engagement, where people live, how they shop, and so any other variables. If you think they are a referral or if they think they are a referral – then they are. Step 1 done. Btw – I could care less how you got them…at least until I know that you are reliably tracking the aggregate number.
- Internal employees or contingent labor that you convert have very little error in tracking. Usually already in some system and easily identifiable. Remember – this is about resource allocation and costs first…not impact just yet.
- Other – well isn’t that easy…there is a bucket here for everyone else.
Controversial? Not really.
Relevant? You bet.
There has been tremendous work done on tracking exactly where people have come from. Using click throughs, hard coding, web traffic, tagging, and more. I love it all – we help many do it.
However – that is an OPTIMIZING step. You need to STABILIZE first your sourcing impact and resource allocation first, and understand if improvement is required, desired, or attainable. Track the buckets, and the cost of the buckets…and then you can start cutting up all your sources, campaigns, etc.