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Common Sense

From candidate engagement to contractor care, from SaaS and onboarding best practices, from burrata to Galbi... here's what's cooking at Sense.

Introducing Sense ROI Analytics

Posted by Parul Jain, Product Manager, Engage on Nov 24, 2020 12:00:00 PM

If your technology shows you that you’re saving time and money but isn’t reflecting the true return on investment (ROI) of that savings, it’s not holding itself accountable. At Sense, we’ve invested in comprehensive analytics and reporting since day one, so you always have a clear picture of how automation and engagement is impacting your full business. 

Today, we’re excited to expand our reporting engine by introducing a brand new feature that provides a simple snapshot and detailed reports to measure the ROI you’re achieving with Sense. At any point, you can review key ROI metrics relating to the number of candidates reached, Sense-influenced placements, and FTE hours and weeks saved. (Yes, weeks!) 

Our new ROI measurement is displayed on both the Dashboard and Performance Analytics pages, and you also have the option to download raw data where applicable to better understand how we calculate attributions. By offering access to download this raw data, we’re committing to transparency about the ROI you’re getting out of Sense. These downloadable reports are available on the Performance Analytics page.

ROI Funnels: Hours and Placements

The Hours & Placements funnel displays the number of unique candidates you’ve been able to engage with via Sense. These touchpoints could include pre-hire communications, contractor care, redeployment, or general engagement messages like birthday and anniversary notes. Of these candidates, we’ll show you how many led to a placement. You’ll also have access to download this report and access the supporting raw data. 

Note: Sense ROI calculations for Placements are on many ATSs we support, and we're adding more all the time. All other systems will see candidates reached and time savings metrics.

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Sense Influenced Submissions & Placements

Curious how Sense automation is influencing your submissions and placements? This is the report for you! To calculate these ROI metrics, we check all recipients who have had a valid submission or placement after a Sense communication.

For submissions, we show attribution if the candidate has received a relevant touchpoint within a selected date range that has re-activated them and led to a job submission.

Note: Submissions ROI data will initially be available only to Bullhorn users, but additional ATS integrations are coming soon!

For placements, we show show attribution if the candidate has received a relevant touchpoint that has re-activated them and resulted in a placement.

*Note that this report is only available by downloading the raw data on the Performance Analytics page.

Sense Influenced Savings

The most successful staffing firms in the industry offer a better experience for their talent and use their recruiter time more efficiently. At Sense, we’ll help you put real numbers to those key metrics, measuring the time you save thanks to technology. Because when you’re saving hours and leveraging automation for manual tasks, your recruiters can focus on revenue-generating activities, like the “human stuff” that improves the candidate experience. You can learn more about these calculations in your Sense dashboard.

For more information on how to dissect and understand this new ROI data, reach you to your Customer Support Not yet a Sense customer? Schedule a Sense demo to learn about our engagement platform and see how we can help grow your ROI. 

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Here’s a look at the method we use to calculate time savings attributed to Sense:

  1. On an average, it takes recruiters about 3 minutes to write an email or text.
  2. We look at the unique number of candidates reached through that email or SMS touchpoint. Let’s use “Y” to denote this arbitrary number — for example, 200,000 people.
  3. Then we’ll calculate the time it would take to engage these customers. Assuming the time to write one email or SMS is 3 mins, that equation would be Y × 3 mins. In this case, 200,000 × 3 = 600,000 minutes. Let’s call this output “Z”.
  4. To get the total number of hours spent, we’ll divide Z ÷ 60 minutes. Following our example, 600,000 minutes ÷ 60 = 10,000 hours. (That’s a lot of hours!!) 
  5. Needless to say, a recruiter can only spend 8 hours a day.

To break it down further,

FTE Days Saved = Total Hours Needed ÷ 8 (hours). That means 10,000 ÷  8 = 1,250 days! 

FTE Weeks Saved = Total Days Saved ÷ 7 (days). In this case, 1,250 ÷ 7 = 178.5 weeks. Wow — that’s a lot of weeks spent writing manual emails and texts. 

Through this complicated – yet important to understand – calculation, we end up with a measurement that shows your time savings ROI. And as you might expect, it’s generally pretty incredible to see the impact Sense automation can have on your time savings.

Topics: ROI, data analytics, sense engage

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