Sales teams are successful because they are able to identify exactly what makes a qualified sale, then work backwards into a formula for finding people who fit those criteria. They’re also working smarter. Calling everyone will never create a successful plan. You have to call people you have a chance of closing.
That was my big plan in my first job as a sales representative – work smarter. I hated talking on the phone, so I would analyze, optimize, and strategize on who exactly to call to be successful. While some sales reps would rather navigate a massive list of leads, I preferred to narrow my list to take an endless list of options and narrow it down to the customers most likely to convert.
Little did I know, I was practicing building my sourcing funnels. Like me, recruiters want to work smarter, not harder as they take on new roles in this new economy. As teams and budgets get smaller, requisition loads don’t, and I’ve heard from agencies and internal recruiters alike that they’re now recruiting new backgrounds. A growing talent market and shrinking revenues will force recruiters to build broader skill sets.
With fewer specialist recruiters, it’s more important than ever to work alongside hiring managers to set expectations. One of the most important ones? What the slate will look like. Your hiring manager should know answers to questions like, “how many people will you bring?”
Often leaders don’t understand hiring and blow recruiting off as easy and something that needs a million options. Explaining the process could save you a lot of headaches. Then, you need to make a funnel and start executing.
Mastering Funnel Metrics
Once you and the hiring manager agree on the output, you’ll build a funnel. Most people talk about funnels in a marketing context – how many people did we reach, how many clicked, how many bought. A recruiting funnel is a little more complicated. It’s a series of numbers that tells you how many inputs you need to get to the final slate of 3. How many people do you have to interview? How many do you have to contact to get interviews?
A typical recruiting funnel looks like this.
Of course, like everything in recruiting, there’s nuance. We’ve analyzed thousands of emails to understand response rates and funnels based on different industries, levels, etc. We have a new tool coming out called Objectives. This tool allows a recruiter to input their job-specific hiring objectives leading to a candidate funnel prediction based on similar jobs posted on Visage.
Consider these variables when calculating your funnel.
● Brand – If your brand is a household name, you may fill your role more quickly.
● Location – Are you in a rural or urban area?
● Competitiveness – How many people do this work? Niche roles take longer.
● Outreach – Is it personalized? A great email is not about deadlines or pressure. It’s about a personal connection.
● Referrals – We all know referrals fill jobs faster!
And don’t forget to talk to the hiring manager!