With TalentLyft Hiring Plan reports, keep track of your planned hiring budget, actual spending, and the success and acceptance rates of offer letters sent to candidates.
Hiring plan
The Hiring plan report focuses on your Job requisitions.
How you planned your budget and headcount in comparison to how much you actually spend when taking into account the agreed salary with each hired candidate, and how much of the expected headcount was filled.
That way, you can make more informed decisions in planning your future hires and the expected expenses for those new hires.
Explaining the report
The data is presented in two parts.
The first part is the upper part where the data is presented in five tiles, summarizing the expected and filled headcount and also your budget and spending.
Below, you will have the data for each Department or Location, depending on the selected filter.
Planned - Total headcount number from all your job requisitions summed up.
Filled - How many candidates have you moved to the Hired stage and hired out of the expected headcount.
Planned budget - The sum of the planned salaries from your job requisitions. TalentLyft takes only the upper limit of the salary range to calculate the planned budget.
Filled budget - The sum of the planned salaries for requisitions that have been filled. TalentLyft takes only the upper limit of salary ranges to calculate the filled budget and multiplies it by the number of candidates hired.
Actual spent - The sum of salaries (annually) you agreed with candidates when moving them to the Hired stage and linking them to the requisition.
Offers breakdown
By analyzing your offer acceptance rates, make data-driven decisions allowing you to identify trends, patterns, and areas for improvement in your recruitment strategies.
Tracking your offers' acceptance rates enables you to tailor the compensation and benefits packages more effectively.
This can help in creating offers that are competitive in the market and attractive to top talent.
It will also help you identify bottlenecks in your recruitment process that may be causing delays in filling positions.
By addressing these issues, you can streamline your hiring process and reduce time-to-fill.
Explaining the report
The data is presented in two parts.
The first part is the upper part where the data is presented in six tiles, summarizing your acceptance rate, the total number of offers made, and how many offers you have in each status. You can also find your average time to offer information presented as well.
Below, you will have the data for each Department or Location, depending on the selected filter.
Total - Total number of created offers that are either sent for approval or directly to candidates for them to sign
Pending - Total number of offers submitted for internal approval
Rejected - Total number of offers rejected in one of the steps of the internal approval process
Accepted - Total number of accepted offers by the candidates and signed
Open - Total number of offer letters sent to candidates and waiting for signatures
Declined - Total number of offer letters that were declined by candidates
Expired - Total number of offer letters that weren't signed or rejected by candidates before they expired
Acceptance rate - The percentage of signed offers out of the total number of offers sent to candidates
Avg time to offer - Average number of days from when a candidate applied to when the offer was sent for signing
Avg time to approve - How long is your approval process. How long is the period after the offer was created and sent for internal approval until it is approved.
