If your end goal is getting an accurate forecast of fees, you’ve come to the right place….& the first step is making sure that you’ve got placement probabilities set up properly because Vincere uses these special set of numbers to give you your fee forecast.
Where can I configure ‘Placement Probability’?
To set this up, go to Settings > Admin Settings > System Preferences > 7. Placement probability by stage.
Go to System Preferences tab:
All you need to do is to input the following for each stage:
The % chance to next stage
Avg. days in each stage
For example, I have set mine up like so:
Using the numbers for Shortlist stage to explain:
This means that 20% of my Shortlisted candidates will move to Sent stage and on average, it takes 12 days to move from Shortlisted to Sent.
You’ll want to go through and set up the numbers for each stage.
⚡ Pro tip:
The better the probability, the more reliable forecast as it will give a more accurate assessment of your pipeline and what you can expect from your team.
Placement Probability calculations are only applied to Jobs with:
Job owner AND
This means that jobs with Job Owner and/or Forecast fee missing will be excluded from forecast calculations (i.e. it will not show up in analytics or the dashboards)
You can easily set Job Owner and Forecast Fee on the Job Profile like so:
Where in Vincere will I see ‘Placement Probability’ in action? Where can I see my Fee Forecast?
Depending on what you want to see, you can get fee forecasts from:
The ATS Dashboard:
This gives you an at-a-glance view of your projected fees at every stage of the recruitment process so you know how much money is actually in the pipeline right now.
To see this, click on Settings in the ATS table and select ‘ Forecast’. This switches the Table View to show you the Forecast view which looks like so:
2. Analytics - Advanced Forecasting Dashboard :
This dashboard shows your Fee forecast based on all the activities you have in your pipeline. So the numbers you see on the dashboard are calculated automatically based on ‘Placement Probability’ you’ve set up.
For your reference, we’ve added a small section here like so:
This is useful in helping you understand and analyse the numbers on your dashboard.
Happy Forecasting! 📈