Source | LinkedIn : By Vinayak Ranade
“Let’s treat our applicants like crap and make sure that smart people don’t want to work at this company.” — said no one ever.
Believe it or not, most companies actually want to hire smart and talented people for their teams.
Even more surprisingly, most corporate recruiters actually want you to have a good experience when you apply to a company.
And the craziest part is that they actually understand that long term company success depends on this.
Doing the math on the candidate experience
Why do recruiters only spend 6 seconds* looking at each resume?
Imagine that Acme co. just raised their series B for $30 million and need to hire 50 people during the year. So they hire their first in-house recruiter, Tom, who’s job it is to scale up. Immediately when Tom comes in he asks to buy a bunch of tools and an additional hire, but gets denied because the top brass want to see what Tom can do alone before investing more into it. They say “We’re already spending that money on you!”
The answer here is purely in the numbers. Tom is overwhelmed with the number of day-to-day tasks he needs to get done.
Assuming 250 working days in a year, and not even counting the amount of time it takes to *get* the resumes in the first place, Tom needs to do these things to accomplish the annual goal for Acme.
- At a yield rate of 60%, 80 offers = 0.4 per day
- At an offer rate of 50%, 160 second-round interviews = 0.8 per day
- At a pass rate of 50%, 320 first-round interviews = 1.6 per day
- At a pass rate of 50%, 640 phone screens = 3.2 per day
- At a resume acceptance rate of 10%, 6400 resumes = 25 per day
The time it takes to do this is
0.4 offers made — 1 hour
0.8 second round interviews — 2 hours
1.6 first round interviews- 3 hours
3.2 phone screens — 3 hours
But this already adds up to 9 hours, which is 3x the amount of productive time. (Apparently only 3 hours are productive **)
^^ the above are all interruptive needs since they are “live” i.e someone is waiting on you. The only task that’s not live is resume screening, so it takes a back seat.
The reality is, even the most dedicated corporate recruiter never has time to look at resumes, much less respond to them.
Why good candidates slip through the cracks
Even with this overwhelming job, Tom is smart, and he understands that if he can just prioritize finding the better candidates faster from the resume pile, then the rest of his pipeline will have higher yield rates, saving him an enormous amount of time and also yielding better hires.