Recruitment business success depends on its ability to sell candidates to respective employers, and its capabilities to equip their resource managers with adequate knowledge and skills to be able to close a deal.
Let’s go to point number one first. Have you measured your resource manager’s conversion rate, which is defined by the number of closed deals versus the number of candidates offered? If it’s low, you need to understand which steps usually the conversion failed.
A failed step could happen even on the first stage, where potential employer reviewed a candidate’s resume and didn’t feel compelled with it, even though the candidate is a strong candidate. The candidate is not trained on how to write a good resume that survived the first 6 seconds of employer skimming process. According to statistics from Glassdoor for Employers, on average, every corporate job opening attracts 250 resumes. However, only 4 to 6 of these people will be called for an interview.
Failure could also happen during the second stage, which is usually the first phone interview, where employer human resource asks behavioral interview questions, where even a technically strong candidate could fail if she is not trained how to answer the questions properly.
The next stage usually is a face to face technical interview with the hiring manager. This third stage usually relies heavily on the technical abilities of the candidate, but still, an excellent resource manager will know how to prepare the candidate better.
So how a recruitment agency increase their conversion rate by reducing the number of failures on each of the stages? By training the candidate of best practices for each of the stage, but this is a time-consuming process for a resource manager to do if the training is a conventional, face to face training. The solution is to have an e-learning portal where the resource manager can put best practices on how to write a resume, how to answer most common behavioral interview questions, and even most common technical interview questions.
A preparation period can be made mandatory for a candidate that interested in a position, where the candidate would go through each module on the e-learning portal, and resource manager only spend a lesser amount of time to monitor candidate’s compliance.
After a candidate is ready, then the interview process with the potential employer can be started. For each stage of the interview, the resource manager could get insight from the candidate regarding the process, and use this insight to enhance further the e-learning module, to add more to collective knowledge, ready to be used and leverage for another opportunity.
Accumulating this interview process knowledge in the long term could make a huge competitive advantage against other recruitment agencies.
Even for technical interview questions, that are accumulated, could help the candidate so much to weigh what important technical questions are for different employers, and help her to prioritize and be more prepared.
Now let’s review point number two, where the focus more on the resource managers. With experience, these resource managers have gained insight on how to deal effectively with certain employers, and this knowledge is valuable knowledge that could be lost if a resource manager moves to another company. This knowledge should be documented, and the other resource managers could learn from this experience. A mechanism is required to understand how much the other resource managers have gone through this documented knowledge, and could help the company to set a key performance indicator for each resource manager. E-learning portal usually has this mechanism to track each learner’s progress. Other than this specific knowledge, additional general topics can be added as well, for example, topics like negotiations, regulations, domain-specific knowledge related to industry assigned to a resource manager.
To help you kickstart the process, we have provided a course on best practice to write a resume, including a resume template. Also, a course that contains the most common interview questions.
Go to our recruitment portal by clicking the button below, and sign up to see the courses. Let us know if you have further questions.