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Category: offers

Metrics That Matter

Pull up a chair and grab a beverage kids, we’re diving in to METRICS!! Everyone’s FAVE subject especially if you suck at Excel and data makes your eyes glaze over (just me? oh, carry on then).

Waaaaay back in my agency days I was taught to dial the phone 100 times a day. That’s right. Pick up the handset, dial 100 different phone numbers in an effort to connect with at least 10 people. Out of those 10, you could hopefully find one qualified, interested candidate for your open role(s). Good times.

Fast forward to the internet where everyone’s a marketer. Lord save me from girls I went to high school with trying to sell me pink drinks and essential oils. Now it’s all about connects, retweets, and page likes. We still somehow / some way have to get CANDIDATES connected to HIRING MANAGERS, but there are still some die hard phone enthusiasts out there, God love them.

People are easier than ever to find, yet harder to engage. We have to rise above the noise and whatnot. This post though, isn’t about THAT. If you want more about how connect with prospects (or at least not send shitty inmails) check out this post. If you don’t believe me, hear straight from the source on this post. But come back because this is important, y’all.

Ok so METRICS! YAY! What should I REALLY be thinking about and measuring? How do I know I’m doing a good job? What the hell is a funnel anyway?

Here are the key measures of talent acquisition success, plus a true story to back it up – I’ll lay out definitions and rough process based on my completely biased yet accurate experience at multiple tech companies.

Pass Through Rates (PTRs) That Matter –

  • Submittals : Tech Screens
  • Tech Screens : Onsite Interview
  • Onsite Interview : Offer Extended
  • Offer Extend : Offer Accept

For our purposes, the candidate process looks like this –

  • Submittals – prospect has been fully vetted for interest / fit by a sourcer or recruiter
  • Tech screen – conversation between hiring manager or other qualified person and candidate
  • Onsite interview – you should know this one
  • Offer extend – I am giving you a letter with numbers on it
  • Offer accept – you like my letter and numbers
Here’s an example of what that might look like. For my visual people – 
I know what you’re thinking…  AMY! That’s a 50% DECLINE RATE! What the WHAT?
Yep. I thought so too. 
Once upon a time a young tech recruiter worked for a really cool team doing big important things at a giant company. Let’s call her Amy. She was invited to a VP level meeting where she was told the team needed to see MORE RESUMES. Amy panicked, thinking “but I’m so BUSY… I’m sending TONS of resumes… what the hell are they talking about?” 
Luckily Amy was SMART and Amy had DATA. Amy was able to prove that over the last 3 months resume submittals had actually INCREASED. 
(some data slightly changed to protect the innocent, but the percentages are ACCURATE)
Jan Feb Mar Totals PTR
Submittals 41 58 71 170
Tech Screens 34 50 66 150 88.24%
2nd Tech Screens 27 30 36 93 62.00%
Onsite 10 17 21 48 51.61%
Offer Extend 3 5 8 16 33.33%
Offer Accept 1 3 4 8 50.00%

Now Amy had a story to tell. 
Here’s what we learned – 
  • We were seeing lots AND LOTS of resumes. In fact, the pipeline is increasing month over month. We liked most of them enough to talk to them.
  • Our ratios were relatively strong, considering the expectations of the roles (variety of engineering/PM/data science roles across levels)
  • We actually had an extra step in the form of a 2nd tech screen – potentially a factor in timing, interview fatigue, or part of why we were trending above OS:OE PTRs
  • We were extending a decent # of offers and trending above company norms of 20-25%
  • CLOSING was our pain point
***Bonus Point – people were leaving US at various steps as well! That was explored further in later reporting***
Armed with this kind of information, you get to drive the narrative. In this case, we had a lengthy discussion around our accept rate, and decided we could live with it based on a number of factors. More on that in a future post. 
Bottom line is this – I went into a meeting where the expectation was I was going to rain more resumes into a leaky funnel without any real understanding of the metrics. I LEFT the meeting a strategic advisor who was able to create a clear, actionable plan based on market realities. I had a GREAT story.
What’s YOUR story?

The “Hard Close” and Other Recruiting Nonsense

It’s a candidate driven market, y’all.

If you’re a recruiter reading this, you know EXACTLY what I mean. For certain skill sets, opportunities are damn near limitless. I’ve been recruiting in tech for the last several years and I’m telling you, jobs are more plentiful and offers more competitive than I’ve ever seen.

Enter – the Hard Close.

Recruiters like to play this little game with themselves. The game is called Candidate Control. The objective is Make The Candidate Say Yes. This could be saying yes to a conversation, an interview, and ultimately, an offer. The holy grail of the recruiting process. The end all / be all (especially if you’re on commission).

Full disclosure – I find the concept of “candidate control” to be irritating, annoying, and downright fictitious. Influence? Sure. CONTROL? Ewww. Go away.

So back to the hard close.

This is when you have an offer out to a candidate who isn’t quite ready to pull the trigger. They may have other offers, still be interviewing elsewhere, or just not quite ready to make a decision. So the recruiter (desperately clinging to some semblance of control) does the good old takeaway. This offer will turn into a pumpkin at midnight! If you don’t say yes RIGHT NOW you’ll never get another chance!

Fine. The answer is NO.

See I’ve LIVED through the hard close myself. A few years ago I was approached by a start up newly launching in Seattle. GREAT opportunity to build out a recruiting function. There were some pieces already in place but some really cool work ahead and my potential boss was great. The interview process was smooth, they met my comp expectations, and I was seriously thinking about it.

EXCEPT I DIDN’T GET TO THINK ABOUT IT.

At every touch point I shared my concerns and timeline. What I was walking away from. Assurances I needed to accept the new role. I was ready to say yes, but wanted ONE MORE CONVERSATION to walk through things like benefits, work / life balance, basically sanity checking what I thought I knew about what I was getting into.

I was told I was taking too long and needed to get back to the team THAT DAY. I’d had the offer letter in my hand for maybe 24 hours.

That’s it. That’s all it took for me to decide this was NOT the place for me. I immediately sent my regrets and regards. I didn’t need to change jobs. The company needed me more than I needed them. Sure it could have been an epic opportunity, but there was also a lot of risk. And if the recruiting leadership was not willing to give me another day or two PLUS their time to discuss what mattered to ME – they didn’t deserve me.

Now imagine you’re a software engineer, or data analyst, or any of the other hot jobs out there right now. You’ve got multiple offers with more recruiters calling you every day. You’re ready for a change, exciting about something new, but want to be really thoughtful in your final decision. You just want to make a call with all the available information in front of you. Then the recruiter pulls this shit, probably making you feel insignificant, not heard, and frankly, probably not respected.

So what’s a recruiter to do? Yes I understand there are timelines – roles can’t sit open forever and you can’t let someone take 3 months to decide if they want to accept an offer or not. There are two critical questions you should always be asking your finalists –

1. What other information do you need (from me, my company, or outside) to make your decision?
2. What is your timeline to make a decision?

And finally, SHARE YOUR TIMELINE TOO. If you know this offer is going to expire, or there is a business need to put a specific deadline (need to respond to other candidates, team is going to implode if we don’t fill the role, whatever) TELL YOUR CANDIDATE.

A little honesty and transparency goes a long way – a hell of a lot farther than “hard close” takeaways.