An Elevate Preview: Data Edition

Tuesday marks the first day of our all-virtual Elevate event, which means you’ve got just a few days to register yourself and your team, for free! We’ve been updating you on what you can expect from the event, the much anticipated speakers and presenters, as well as the other dealerships making an appearance. Now, we’re sharing a glimpse of the exclusive data you’ll be privy to by attending Elevate 2020 from both a recent applicant survey and NADA research on the state of dealership recruiting and hiring trends in response to the pandemic. Here’s some of the important information we’ll be covering at Elevate. Register now! 

What Platforms Are Job Seekers Using?

Knowing where to advertise your job openings is a key part of actually recruiting the best talent. Certain platforms may seem like the best choice, but the number of job seekers in the industry that actually submit applications from those channels may surprise you. There may be channels you haven’t explored yet that are easy wins for talented applicants. We’ve got data on how recent hires submitted their applications from our recent applicant survey that will give you insight on where your job posting efforts should lie.

Cost per Applicant

How much is your dealership shelling out to attract applicants to your open roles? The cost per applicant per channel varies greatly, and if you’re not getting very many applicants applying to your open positions, that amount can be even greater. While it is always more important to focus on quality over quantity in applicants, it’s extremely important to know how much you're spending on channels if they aren’t bringing in potential hires. 

Cost per New Hire

The hope for the cost per applicant and the cost per new hire is that the same channel that drives the lowest applicant costs also has the lowest eventual hire cost. Some channels do result in low spend for both categories, but some have a drastically different cost per new hire compared to the original advertising price. To ensure that you’re getting the most bang for your buck, both need to be relatively low.  This cost ties directly into onboarding, as well, because without proper onboarding, turnover is unavoidable. Offering a strong employee onboarding experience can improve employee retention by 82 percent and productivity by over 70 percent, according to research by Glassdoor. Whether you’re onboarding your new hires in the office or virtually, make sure you’ve got consistent and engaging material so they feel like part of your team from day one, all while learning your business initiatives and strategy.

Highest Contributor to Starting a Job Search

The reason the job search begins for many employees varies, but the top contributors are things you can work into your business model to keep employees around for longer periods of time. Now is also a very unique time where a lot of job seekers are on the hunt because of the pandemic, so they otherwise wouldn’t be on the market. That means you’ve got the opportunity to bring some top talent onto your team that you previously might not have had access to. 

Get The Stats at Elevate

We’ve got a comprehensive deep dive into these — and many more — important data points that will inform your hiring process throughout the year, as well as into 2021. If you’ve been holding off on signing up for Elevate, now’s the time to take the leap. Register now!