The performance of placed candidates once in the job should matter more than the number of roles filled by recruiters
How are you measured in your role? There will be quantitative and qualitative performance dynamics that underpin how effectively you operate. The world of recruitment is no different.
In the early stages of my career, I was told: always focus on the inputs – the outputs will look after themselves; if you make enough phonecalls and create enough activity with CVs, the interviews and placements will soon follow.
Performance management focused on key indicators such as the number of CVs sent, the number of job leads obtained and even the amount of telephone connect time. A more qualitative measure would then look at the conversion rate of CVs sent to interviews, then from interviews to successful placements.
Lack of follow-up
But there was very little talk of the performance of placed candidates after their appointment, which for both individual and firm was surely a more important outcome than how many jobs had been filled. Nor was there any recognition of repeat business from a satisfied client.
Even where a rebate had been given to a client because a new starter had left within the first six months, this did not change the emphasis from driving the inputs. The mantra remained the same: “Keep concentrating on the inputs you can control, and do not worry about the situations beyond your control.”
Making a difference
Despite feeling the approach back then underplayed the significance of clients’ hiring processes, I fell in love with recruitment because of the chance it gave to make a difference.
My experiences shaped my belief that reputation is king and it is the outcome that really matters.
So what does this mean in today’s mortgage intermediary recruitment market? The biggest efficiency comes from knowing your market. Accurately targeting the right people means you spend more time on filtering and qualifying, which ensures those being called to interview have the right credentials for the job, are motivated to move and can see how the particular role and firm can leverage their career.
My litmus test is based on there being three reasons why the role improves someone’s situation and no more than one reason why staying may be the better option. I have formed a matrix from the insight and feedback I am given about firms, which enables me to compare and contrast what any new instruction may mean to a person.
The time saved by not chasing dead ends allows for a greater concentration on understanding the reasons why the move would add to someone’s career profile. It also means the hiring manager loses less time to interviewing. Although a deeper process means CVs will not be presented in just a few days, there will be more confidence that the candidates eventually presented will be of a higher quality.
The credibility of this approach brings greater trust from prospective employers and allows candidates to apply with the knowledge that they are not being spoon-fed into a role.
I derive great satisfaction and professional pride from the regular updates I receive from employees enjoying the success, bonus rewards and career growth in their new firm.
Taking into account notice periods, recruitment processes realistically take a minimum of eight weeks. There will also be a recruitment fee and the on-boarding thereafter will have a time/cost investment. All of this goes to waste if a new employee does not work out, making it even more crucial to find one who starts contributing to business goals and improving the firm’s overall performance as quickly as possible.
Peter Gwilliam is owner of Virtus Search