360 DESK CHALLENGE ~ Recruiting Math 101
For the past week I have been pounding the phones, filling my pipeline with candidates and researching prospect clients. This actively helped me pass the time as I waited for our poll to close.
And it finally did! As you can see from the results there is an overwhelming cry to see me close $100k in placements between now and the Headhunter Summit.(View poll results here.)
Ok I am up for that. Now the question is what does a $100k in production look like at a daily level?
Let me introduce you to Recruiting Math 101. As we all know, Recruiting Math is “special math.” It’s one part fact, one part willpower, two parts shear brute force with a pinch of luck. But really, the Math is just a series of simple equations. As soon as you comprehend these equations and can calculate them for yourself, you will be able to fix problems in your process, predict trends, and control your workload.
The recruiting industry as a whole has some standard equations and production numbers to accompany those equations. Following these standards, ensure that if you bring someone into the recruiting industry with no experience and hold them to those equations and production numbers, they will be moderately successful (i.e. cover their cost and generate profit).
As this is my challenge and my numbers, we are going to be using the “Marketing Candidates Equation” (MCE) from Curta’s Marketing Candidates program and my personal production numbers to calculate my work load.
To begin using the MCE, you must first start with a revenue goal. Based on your responses to our poll on what you wanted my target revenue to be, I will make $100k in revenue by October 1st.
Using the following 10 steps you will see how I calculate the number of candidates I am going to have to work through the process to reach our $100K goal. Depending on your ratio to close, the numbers will vary. (Need help with the numbers? Let’s talk or join our FREE Webinar on Thursday May15 at 12PM EDT.)
Curta Marketing Candidates Equation
(click on image to enlarge and see how it’s done!)
Now you see how I use a formula like the MCE to plan how hard I will have to work to ensure $100K in revenue. The other great thing in using a formula like this one is that it takes a high target like 100K and breaks it down into small achievable goals, making it a lot easier to plan your strategy and to do list.
For example according to the MCE, I will need to review 215 resumes. To reach this small goal I am going to:
- Set-up some time each night and review profiles on LinkedIN. When I find someone I like, I will source their work number to call them in the morning.
- Set-up a couple of job postings to catch the passive candidates.
- Reach out to my network and colleges for referrals.
These simple activities will get the production flowing plus, as I speak to people I can also ask for referrals and recommendations, to expand my reach. By working this way, I have set myself up for success along with setting a good strong pace and rhythm to my work day.
The goal to Marketing Candidates is to keep your life as a recruiter profitable and fun all at the same time.
Rebecca is the Recruiter’s Coach at Curta, where the mission is to ensure that clients exceed their business goals by raising the bar in the global recruiting and staffing industry. Rebecca is currently meeting the 360 Desk Challenge, of building a desk from scratch and targeting a $100K by October 1st.
Because those who teach, definitely can!