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15 Sourcing Tools That Can Save You Thousands In 2016

 15 Sourcing Tools That Can Save You Thousands In 2016

He’s back! The veteran  writer with more than 2,000 extensions.

Dean Da Costa presents a journey of recruiting tools, tips and hacks. This webinar cuts through the fluff. Dean brings his favorite sourcing tools to uncover and scrape hidden resumes.  He also finds profiles and contacts of people you did not know exist.

Special Bonus

As a special bonus, Dean will give everyone a live demo.  This demo shows 7 tools that will map out a direct link into the power of LinkedIn Recruiter.  You don’t even need a license.

He’ll walk you through the proper techniques and tool combinations to uncover serious results at no cost.

This is a fast paced 50 minute learning session with real demos and real examples, with a side of “no sales”. We will take your questions and challenges live on the air to show you how these tools work.

He’ll share top sourcing tools including:

  • Incognito sourcing tricks to find anyone’s social media profiles without wasting precious time
  • Profile scrapping and clipping tools to rip out your most sought after profiles on your target list
  • 7 amazing LinkedIn hacks to get results without a LinkedIn Recruiter license

Dean Da CostaAbout the Presenter

Dean Da Costa is a highly experienced and decorated recruiter, sourcer and manager with deep skills and experience in HR, project management, training & process improvement.

Dean is best known for his work in the highly specialized secured clearance and mobile arenas, where he has been a top performing recruiter and sourcer.  Dean’s keen insight and creation of innovative tools and processes for enhancing and changing staffing has established Dean as one of the top authorities in sourcing and recruiting.

Connect with Dean at LinkedIn or follow @DeanDaCosta on Twitter.

PreSourcing Tool is now Itonia

Itonia In September 2015, Dean DaCosta showed us the PreSourcing Tool. This product allowed users to compare the profiles of ideal candidates. From there, the tool will provide you with new terms, new training and new jargon that you may not have thought of on your own. Once the search is completed, the PreSourcing Tool will amend your search, allowing you to target smartly previously missed profiles.

Why the Name Change?

Recently, they have changed the name to Itonia.  Same great tool, different name.  I had the please of talking to Director of Itonia, Michael Geradts, to ask him about the change.

The product PreSourcingTool is now in it’s seven year of development. PreSourcing tool was a partner with us but now, since then, we have ended the relationship and ownership is back in the hands of the parent company, Itonia.

In the beginning, the aim was to translate all the different types of Boolean dialects from one search string. Boolean in LinkedIn is different from Google and MonsterBoard and others. And in the beginning, one good feature was a Keyword generator. This is necessary because you can not use a * or question mark to indicate different endings to a word. For instance, in Dutch train station is one-word trainstation. So the keyword generator solved this problem and let a tool write all the different endings to a simple word.

LinkedIn’s grow has been out of control as well all know but in Holland, where the headquarters of Itonia in located, of a working population of 7,8 million people 6 million are on LinkedIn.

That is huge, but is also the problem. How to select the right people for a job opening in those 6 million? The only way is using keywords, but what are the right ones? So I developed version 2.0 of the tool to find those keywords. The best place to look for keywords is in the LinkedIn profiles. The best fit is in the people who work there already in that position.

How Does it Work?

Where Itonia steps in, is to enhance the search that you create by including words that will lead to profiles you may have missed. Here is how it works:

Step 1 Create and fill a TalentPool
Step 2 Increase the similarity
Step 3 Start searching

This is only the beginning of upcoming changes for Itonia. Next year, the hopes are to have a fully developed Chrome extension that will allow you to search faster. If you have not checked out Itonia (previously named PreSourcingTool), you should. It is a different product that improves the match by searching with the better keywords to find better candidates.

Find out more about Itonia on their website www.itonia.nl/index.htm.

Jackye HeadshotAbout the Author: An international trainer, Jackye Clayton has traveled worldwide sharing her unique gifts in sourcing, recruiting and coaching. She offers various dynamic presentations on numerous topics related to leadership development, inclusionary culture development, team building and more.Her in-depth experience in working with top Fortune and Inc 500 clients and their employees has allowed her to create customized programs to coach, train and recruit top talent and inspire others to greatness. Follow Jackye on Twitter @JackyeClayton  and @RecruitingTools or connect with her on LinkedIn.

How To Become A Badass At Sourcing.

chuck norrisI know, a lot of you think phone sourcing is either old fashioned or completely obsolete – the technological antipode of things like crowdfunding, social media or ecommerce.

And I admit, phone sourcing isn’t the newest – or sexiest – method for finding and developing talent out there these days. But it still remains one of the most efficient, and most effective, ways to connect with the talent you want for the roles you need.

The fact that so many people think that tools like social media or email automation are more effective ways to target and engage with talent than simply making a phone call (old fashioned though it may be) absolutely blows my mind.

But it also leads me to think we all really need to take a big step back here and really reexamine the nature of this whole sourcing and recruiting thing – and what success really looks like. Trust me, technology has nothing to do with it.

Sometimes, tools can be an inhibitor, not a facilitator, for actually connecting with candidates –  but sometimes, they can be a silver bullet. Want proof? Look no further than your phone.

Phoning It In: A Sourcing Call To Action.

I know what you think when you hear “phone sourcing,” but in fact, what has become the accepted definition for “sourcing” these days looks more and more like what “recruiting” used to do – and the lines between the two disciplines have blurred so much that the distinction has become pedantic and irrelevant, really. Read any job posting for a sourcer today – and there are a whole lot of them out there – and you’ll see some variation on the same theme.

Here’s a real example for a Sourcing Specialist recently posted by a Fortune 50 company:

“This position will be responsible for sourcing internal and external candidates according to relevant job criteria, mining databases, networking, internet recruiting activities, candidate outreach, media and employee referrals. Expertise in Boolean and other advanced search operators required; experience with cold calling highly preferred.”

OK, I get it. This company, like many others, has a distinct sourcing function to support their recruitment activities, and hence, are not considered “recruiters,” even though they sit in recruiting. The good news, though, is that if they try hard, stick around long enough without pissing anyone off and beat their benchmarks, someday, maybe, they’ll have the chance to be real recruiters themselves.

Sounds good, but honey? That’s a whole load of baloney, and you know it.

When you’re:

  • Responsible for having enough knowledge and acumen to identify and connect with top performers in highly technical categories like engineering or very niche industries like healthcare or financial services…
  • …and serve as the first point of contact for candidates at the beginning of the process while helping them navigate every step of the hiring cycle…
  • …and find candidates who are not only successfully placeable, but superstars who can make a real impact really quickly…
  • …and build enough of a relationship with that candidate to influence whether or not they accept an offer…

…then sweetheart, you’re not sourcing, you’re recruiting. No matter what your title happens to be.

Keep Sourcing Simple, Stupid.

She’s not internet famous, and only has a few thousand followers, but one of my favorite Twitter bios comes from a smart young millennial based in Boston, Molly Goodman (that’s @MllyGoodman on Twitter – and she’s definitely worth the follow).

Her philosophy, in 140 characters or less:

“Think before you speak, read before you think, and if you can’t explain it simply then you don’t understand it well enough.”

This is good advice for anyone, but if you’re trying to become a badass sorcerer, it’s pretty much the key to success. Sounds simple enough, but actually applying this to sourcing is a lesson that many of us spend a lifetime trying to learn. Because no matter what people say, sourcing isn’t easy – and if you think it is, you’re not doing it right. There are a ton of people today whose primary job involves sourcing for a living. But finding the handful of true badasses out there in this business might just be the hardest search in recruiting.

First off, let’s define “badass” – the Urban Dictionary defines this term as “tough, uncompromising, or intimidating.” Personally, I like this definition – and some of the other badass applications of this term listed in this entry. I thought a definition was worth including, since “badass” is a word many of us like to use, but almost none of us seem to really use the right way. Which, in sourcing, I suppose is par for the course…

Now, to get to the basic premise of Molly’s sagacious sourcing advice, I’m going to try to make like Thoreau and “simplify, simplify, simplify.” To illustrate, I’ll use the straightforward, short and sweet style that made Bull Durham one of the funniest (and one of my favorite) movies of all time.

 

“This is a simple game. You throw the ball, you hit the ball, you catch the ball.”

Get it. Got it? Good.

Phone sourcing is also a simple game. You make the call, you take the call, you return the call.

And that’s pretty much it.

The Sourcer’s Guide to Becoming A Badass.

imageOf course, a lot of phone sourcing – an inordinate amount, in fact – is also the hardest part: picking up the phone and making the damn call. You’d be amazed at how few “recruiters” (much less “sourcers”) can successfully do even this simple first step. If you’re not afraid of actually using the phone, you’ve got a really killer tool for beating the competition – and one that’s way better than, say, tweeting.

To be a true badass, though, to be the sourcing equivalent of Crash Davis, journeyman catcher and high culture raconteur, it takes more than raw talent. It takes experience, and the only way to get that practice required to make perfect (or good enough to make placements) is by making a whole lot of calls.

And I mean a whole lot. Anything under 100 a day wouldn’t even cut it at most agencies back in the day – and still won’t if you truly want to get out of the minors and earn your place in the talent acquisition Big Leagues.

If you’re like one of the many “sourcers” still scared of the phone, don’t worry. I’ve got your back.

Here’s what you do:

  1. Pick up the phone.
  2. Dial the number.
  3. Talk to anyone who answers.
  4. Leave a call for anyone who doesn’t.
  5. Gather as much information and as many names as possible.

Repeat as necessary.

The first steps here are pretty easy – I’m guessing even the Millennials reading this know how to use a phone – you know, that other side of your text message machine? But it’s steps 3-5 that get a little more complicated. This is why, like Crash Davis, it really helps when you’re bringing the badass.

Don’t be afraid of the phone. It’s your best tool once you get the hang of it. Even if it’s not the easiest or most natural for most of us. Not even me, at first.

Direct Dial: How To Simplify Your Sourcing.

9892825I know, today I’m an outspoken advocate and trainer for phone sourcing – this is my schtick, and my specialty, but it wasn’t always that way. Like most phone sourcers, I am naturally soft-spoken – those of us who have the instincts to find information and the technical proficiency to synthesize complex information into simple sales pitches or search terms generally don’t say much.

We’re people of few words but long looks. And although we can’t “see” people over the telephone, we know that we can hear everything we need to know about a candidate through sense, if not sight.

This requires training, emotional intelligence, perseverance and the knowledge that phone sourcing all comes down to intuition, more so than maybe any other job activity there is in recruiting.

You can’t really teach it, and you can only learn by doing. Phone sourcing is a second nature sort of thing, an unthinking, visceral, spontaneous flow that you have to continually develop and refine – no matter how experienced you are, you can always get better. Phone sourcing isn’t something you can plan, because you never know what ball the gatekeeper is going to hurl at you over the plate.

It takes experience to handle the curves and changeups that gatekeepers like throwing at you, but the great thing is, when you get enough experience with phone sourcing, there’s a good chance you’ll not know the best approach for making contact based on your experience and expertise – and eventually, you’ll be able to swing for the sourcing fences. Because in phone sourcing, once you figure out the power game, there’s no stopping you from scoring every time you reach the plate.

Phone sourcing is like cheating. After all, any gatekeeper has little to no context for you or your style before picking up the phone, but you have the luxury of doing enough scouting and preparation to know what approach is going to work best – and use that knowledge to your advantage. Which, you’ve got to admit, is pretty badass – the fact that, as one well-respected recruiting pundit pointed out, good sourcing is a whole lot like spying. This is not only an excellent nomenclature, but it sounds way cooler, than, say, social recruiting or “big data” or “crowdfunding.”

Learn to love the phone – and embrace it, because really, it’s always been what Twitter is just pretending to be – a comprehensive, first-hand, real-time way to collect meaningful information and insights that require a little spying, a little sweat equity, and the occasional Nuke LaRoche spitball (just to keep them guessing).

Hot off the press: this, honey, is sourcing. It doesn’t get any more simple.

And it sure as hell doesn’t get any more badass.

maureen-sharib-foto.256x256Maureen Sharib is a phone sourcer who owns the firm TechTrack, where she helps companies find and contact candidates for their hard-to-place positions at a fraction of the cost of traditional recruiting channels and sources of hire. And she’s been doing this a long time.

Maureen believes the telephone is the best way to find anything out firsthand and thinks of information on the Internet as a bloated dead pale whale lying on the bottom of a vast ocean rotting away, pieces of itself peeling off and floating upwards before finally disappearing at the sunlit and crystalline surface of fresh discovery.

If that metaphor appeals to you, feel free to call Maureen directly at 513.646.7306. She’ll probably even pick up.

You can also follow Maureen on Twitter @MaureenSharib or connect with her on LinkedIn.

3 Mobile Recruiting Trends You Need to Know for 2016

On Wednesday Deloitte released their annual Global Mobile Consumer Survey and as predicted mobile usage is on the rise. What was shocking however, was the scale, frequency, and purposes for which consumers are leveraging mobile. Not surprising is the growth of mobile recruiting. There are three essential trends I want to share to help you take advantage of this trend.

Hello Text, Goodbye Email

Traditionally email has been the first thing consumers check on their mobile device when waking up in the morning. Those days are gone.

Deloitte reports that 31% of consumers check their text messages first, while only 24% of consumers check their email first. On top of that, emails experienced “the largest year over year decline of any activity.”

Leisure Time Goes Mobile

Deloitte’s survey also shows that outside of work we use our mobile devices most while shopping (92%), watching television (87%) and going out to eat (81%).

The use of phones during these activities presents a tremendous opportunity for recruiters to use keywords and short codes to fill talent pipelines. Just imagine a shopper at a department store seeing a display “Text ‘Jobs’ to 55555 for Career Opportunities” – it engages talent on the spot and simplifies the application process. Mobile recruiting is evolving to attract new talent from brick and mortar storefronts, not just from device to device.

Mobile Recruiting TrendsMobile Rituals

The number of times Americans check their phones has grown to 8 billion times daily, and that may be because it’s where we spend time when we wake up and before we go to sleep.

43% of consumers check their phones within the first 5 minutes of waking up (up from 39% last year), and 33% check their phones within 5 minutes of going to sleep.

As our mobile devices become more and more ritualized into our daily behavior – their influence in recruiting and candidate engagement strengthens.

The importance of connecting with job seekers on their mobile devices is obvious, and luckily for recruiters the opportunities to generate candidate engagement in 2016 are emerging quickly.

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Birch is the Marketing Manager at TextRecruit, a mobile recruiting platform that helps attract and engage candidates via text message. He loves learning and writing about how technology is changing the way we work, and frequenting craft beer festivals in the Bay Area. You can find him on Twitter @BirchF.

Why Recruiters Don’t Have To Hate HR.

human_resources_260805The only people fighting harder to earn credibility than recruiters are the rest of HR. 

Pretty much everyone, everywhere, it seems, has some sort of severe dislike for HR as a function; there seems to be even more public disdain for the general populations of individuals who constitute the HR professionals.

This general animosity for HR is nothing new. Over the past decade or so, there have been manifold posts and well publicized articles fueling the HR hating fires.

From the infamous 2005 Fast Company cover story, titled, simply, “Why We Hate HR” to the similarly subtle “Why We Love To Hate HR,” published just this past August as the cover feature of the Harvard Business Review, while there’s been some dissent on the causes for the mainstream malice towards our function, the consensus is clear.

In the court of public opinion, HR professionals rank somewhere between used car salesmen and tobacco lobbyists.

The continuous war on HR that’s played out for over ten years now has, inevitably, led to suggestions about the viability and necessity of even having an HR function in the first place. As a result, plenty of industry pundits, respected business community leaders, academics, consultants and average employees have suggested that the entire HR function should be completely obliterated.

This “why we hate HR” sentiment makes sense; given the constant barrage of public pillorying HR has been subjected to, the conclusion that we’d all be better off in business without HR is understandable, even rational, really. What makes less sense is the fact that after all the incessant griping and calls for the elimination (or extreme reduction) of HR, absolutely nothing – nothing – has changed.

The complaints haven’t made a dent (at least a noticeable one) anywhere in the corporate world, the same place where the function allegedly wrecked so much havoc that the widespread, entrenched negative reputation it had made for itself seemed to suggest shakeup, not stasis. But we’re still here. And the constant drumbeat of negative press, vicious commentary and attacks by all sides has all come to nothing.

Now, let me be the first to say I’m not here to defend HR. Nor am I responsible for the HR practitioners who perpetuated this perpetual perception problem. With that disclaimer, let me be the first to say that I find this topic ever so tiresome. In fact, I think it’s complete crap, if I’m being honest.

But I’d also like to say some of the reasons I feel this way. And I know I’m not alone.

$#!+ Recruiters Say.

As an active user and consumer of the various platforms and tools available to us today for online communication, I’ve noticed HR bashing has become even easier (and more ubiquitous) than ever before.

If you’re using any of the various networks we all have at our disposal, you can’t help but notice that there seems to be a continuous barrage of HR bashing.

Or, if you’re part of the many professional communities and groups online dedicated to our industry, that a disproportionate amount of that bashing happens right in the middle of many recruiting related conversations.

Now, I know that I am not officially a “real” recruiter who “actually makes placements,” a fact that I know many members of these groups feel means that I have absolutely no credibility whatsoever. I call bullshit.

I am most decidedly not a “Top Recruiter,” which, somehow, seems to gain more respect on social media than HR – which is saying something. So, if you think I’m not a “true” recruiter, fine.

The one thing I need for you to know, though, is that while this post may come across as defensive, it’s not meant to be, at all.

The thing is that my skin is thick. Unlike many in our profession, I actually welcome criticism, disagreement and dissention on anything it is I say or write. It’s how I learn, and how I become better at HR and business, too. And, I absolutely value any input or insight, such as a barrage of agency recruiters bitching about HR buffoonery, as long as it’s not a personal attack, advances the bigger conversation and helps ME do MY job even better.

Nor is my intent to ramble on about how I’m different than the typical ding-a-ling with an HR title. I don’t plan on making any public pleas to stop saying mean stuff, or any calls for cordiality.

Here’s the thing: I might be HR to any “true” recruiting hardliner, but I happen to agree with almost every single complaint I see and hear coming out of recruiters.

You don’t need to take any more than a passing glance at some of the vapid fluff floating around HR hashtags or content to see why we remain the black sheep in the greater human capital family. I get it why HR isn’t anyone’s favorite.

Even HR doesn’t really like HR. But it’s a living.

Recruiters, Stop the Insanity.

neverWhile most of my official job titles haven’t included the word “recruiter,” I’ve been in a variety of HR roles throughout my career, and during the entire time I’ve been an HR practitioner, I’ve had some sort of connection, in one way or another, to recruiting, throughout my entire career. I’ve always had some recruiting related responsibilities, which is one of the reasons I happen to care about the bigger picture more than the partisan parts.

It’s also one of the reasons I’m so tired of the divisive interdepartmental dysfunction, infighting and general disdain between recruiting and HR. It makes no sense, because outside of this silo, the rest of the world doesn’t see the distinction.

We’re all HR. And we should all really be on the same side, because we’re all fighting for the same things – first and foremost, credibility and respect.

It’s up to all of us to educate the rest of our businesses on our value to the organization, and work towards changing the minds of our employees instead of bickering among ourselves.

We should never accept any level of ignorance, incompetence or ineptness when dealing with HR issues (recruiting included) as a given; we shouldn’t resign ourselves to the status quo of the status quo. Because it kind of sucks, and being OK with being the whipping boy for the rest of the world of work isn’t how any of this is supposed to work.

The way I see it is that HR is only operating according to the rules of business as usual, which means that the HR function has accepted our second class status as an inevitability and done everything possible to live up to the low expectations everyone else has for them, sort of a self-propagating Pygmalion Effect.

No one expects anything from HR but a pain in the butt, it seems. The bar is low. That’s why we’re OK holding everyone else to higher standards than ourselves, or why the group responsible for performance management fails to hold themselves accountable for their own mediocre performance. And there’s no one else out there to hold HR responsible for their mediocrity and malaise. I’ve wondered for quite some time about why that’s the case. Conventional wisdom, it seems, holds HR as a lost cause.

But rumors of the death of HR have been greatly exaggerated. As sweet a solution as either eliminating HR entirely, or at least, disintermediating it from the recruiting function and sending it into back office or outsourced exile seems, the fact is, it’s not realistic.

HR is here to stay – like it or not.

Don’t Hate the Player. Change the Game.

BwNhXbWCUAEbMzaThe key is to stop talking about this utopia where HR doesn’t exist, a conversation that’s as far fetched as it is futile, and figure out how, exactly, we can all stop worrying and learn to love HR. Or at least, respect the work we do and the people who do it.

I’m not expecting people to start working with HR overnight. I’m just asking for business professionals in general, and recruiters in particular, to stop working against us so damned much. It’s not helping either of our causes.

Recruiters understand what it’s like to be dismissed or not taken seriously; no matter how much credibility we have as a profession, though, it’s our job to do our jobs. If you’re an HR Army of One, as is often the case (trust me, I’ve been there), then you’re not only expected to do it all (including recruiting), you’re expected to do it all well, if not world class, without dropping a single, solitary ball. The constant juggle of competing priorities and ridiculous range of responsibilities are why we’re called “generalists,” after all.

While I identify more with HR than I do with “true” recruiters, I don’t identify with the many frustrations and challenges many of my fellow HR peers seem to cause for recruiters; I realize we’re responsible for a lot of the hatred directed our way, and understand that sometimes, our jobs may come into conflict. We might not always agree, particularly if there’s any HR issues that come up (and they often do) during the offer process.

There are conflicts and tension in every function, in every organization, at every level, at every employer – but the open animosity and adversarial relationship between recruiters and HR seems a bit extreme, to say the least. It is a relationship that needs to change, and change now. After all these years of factional fighting, though, how do we go about effecting that change?

As an industry, how do we get there from here?

Recruiters, Don’t Let HR Wreck Your Show.

I have a suggestionhr_demean for all you recruiters out there (I know, shock, right?). It’s a small one, sure but it could make a big difference – for all of us, really. Here goes…

Whether you’re in third party search, work for a staffing agency, sit at an RPO, are an independent recruiter or part of a global TA team in-house at an enterprise employer, if you’re a recruiter, you’re also part of the problem, not part of the solution.

First things first, recruiters, stop enabling HR to “wreck your show,” to borrow a phrase from my friend, Michael Keleman, better known as the infamous (and incredibly wise) “Recruiting Animal.”

And If you’re a recruiter, and you think your HR “partner” is creating too many obstacles for you to successfully do your job of finding, attracting, and hiring the right candidate for the requisition you need to fill, don’t bitch about it to other recruiters behind closed doors.

Do something.

Seriously. You want to change HR, you have to shut up and start somewhere.

Talk to them. Get to know them. Figure out how to address challenges instead of assigning blame. Choose action, not reaction. The price of doing nothing is hurting us all.

Remember, you don’t have to like HR. But you have to live with us, because we’re not going anywhere. No matter what the posts and pundits say.

 

talenttalks

About the Author: Leveraging her unique perspective as a progressive thinker with a well-rounded background from diverse corporate settings, Kelly Blokdijk advises members of the business community on targeted human resource, recruiting and organization development initiatives to enhance talent management, talent acquisition, corporate communications and employee engagement programs.

Kelly is an active HR and recruiting industry blogger and regular contributor on RecruitingBlogs.com. She also candidly shares opinions, observations and ideas as a member of RecruitingBlogs’ Editorial Advisory Board.

Follow Kelly on Twitter @TalentTalks or connect with her on LinkedIn.

 

 

Oh Joy: The 12 Days Of Sourcing

Tis the season for listicles and best-of’s, right?

Here at RecruitingBlogs, we feel especially qualified to pull together your top 10’s and best-of’s because we actually have a pulse on the recruiting industry. It helps that we’re the only truly crowd-sourced recruiting blog out there. We also host recruiting events, write eBooks and blog posts, plus moderate recruiting webinars. That to say, we listen to a lot of ideas.

We’ve been busy, obviously. But we’ve been busy listening to you. And even if some voices can leave us with a headache, there are a lot of inspirations too. Our top bloggers this year took a fresh look at recruiting and made us stop to think “that’s a really f*cking good idea” more than a few times. We hope you left with some great ideas too.

This year, as our team was taking a look back on what we’ve accomplished and where we want to take our community next, our own sourcing guy – Ryan Leary – had this really cheesy idea. Background on Ryan, the guy loves sourcing tools; geeks out on the stuff, like a lot of you do, too.

His idea was to create a 12 Days of Sourcing. I think he’s taking this whole “marketing is recruiting” thing a little too seriously because now he’s stepping into my world and making campaigns. But I had to let him run with it because 1) he’s one of the owners of RecruitingBlogs and 2) it’s actually a pretty good idea.

He went out and talked to some of the best in our industry to get 12 ideas he could share with you – 1 per day for 12 days.  There are sourcing tips, hacks, and videos  – all tips and tricks that we are not going to be publishing anywhere else on any our sites. I guess it’s our exclusive “list” this holiday season, whether you were naughty or nice.

That was a really bad Santa pun, sorry.

Regardless, I really think you should sign up now. Like now, now. We’re closing registration Monday at midnight.

For those of you not into this whole Santa thing, if you love recruiting tools and hacks – you’ll get 12 of them. And I will try to make sure Ryan doesn’t use any more bad holiday puns. One is enough.

Psst. Happy holidays from all of us to all of you.

Life of the Third Party: How To Use Big Data For Agency Recruiting.

big_data_is_sexyLet’s face it. If we liked math (or were any good at it), there’s a good chance we wouldn’t be in recruiting. Crunching data has to be one of the least sexy concept this side of HR Girls Gone Wild: SHRM Summer Vacation.

Numbers, unlike people, are black and white, inherently uninteresting and almost as boring as that candidate who won’t shut up when asked to tell you about himself. You know the one.

When you consider the possibilities, however, it quickly becomes obvious that data gets a pretty bad rap. You don’t have to look far to see some example of how something as mundane as analytics can create an impact on something as meaningful as helping cancer charities smash fundraising records, using crowdsourced data to cut down on traffic and improve commute times, not to mention promising pilots for finally cracking the mysteries of space and time.

Not so boring anymore, right?

The Lead Off: Agency Recruiting and Analytics.

One of the most commonly cited and well known applications of applying a statistical approach to decision making, team dynamics and formerly unmeasurable outcomes is the concept of Sabermetrics. simply defined as using quantitative analysis to baseball situations. Winning pennants with brain over brawn has become something of a touch point for the geek chic crowd, particularly after the release of the Oscar nominated film Moneyball.

Based on Michael Lewis’ behind the scenes look at the mechanics of one small market team’s rise to the top, the film cast Brad Pitt as a kind of antihero who, like some after school special, must outsmart the old boys club through data analysis. Of course, being Brad Pitt, GM Billy Beane wins big in the end, overcoming a lackluster budget to use evidence instead of instinct when evaluating players – effectively maximizing worker productivity while minimizing associated costs related to headcount.

Of course, the A’s never actually won the World Series, which was the ultimate goal, but other teams have won since sabermetrics first replaced the formerly unreliable, largely inaccurate approach to evaluating talent that had been in place since last time the Red Sox won the World Series prior to 2006, where the Curse of the Bambino was ended by Bill James, the father of sabermetrics, a laptop computer and a complex algorithm crunching numbers nonstop. The Boston bean counter proved that the key to knowing what’s going to work lies in your ability to analyze what has – and hasn’t – in the past.

This requires taking a deep dive into big data. Don’t worry. It’s not as scary as it sounds.

Middle of the Order: Supply, Demand And Agency Recruiting.

1297283749187_3861926Yeah, I know. You’ve heard this whole moneyball for HR thing before, and while it seems pretty obvious that there’s some lesson in there, leadership still seems unsure exactly how to apply this analytic approach to talent acquisition and management.

This whole data thing is a whole lot harder than it looks, and by and large people people tend to have difficulty with applying an often amorphous concept into actual action.

As much as every HR Director would like to be the talent version of Billy Beane, and as much as we’re all seemingly obsessed with this amorphous idea of “big data,” the fact is that we’re still striking out – forget Moneyball, this is more like rookie ball.

For all our intentions, talent acquisition and management are still stuck in the minor leagues when it comes to analytics.

That 4 out of 5 employers last year admit to using an outside agency or contingency firm, willing to pay an inordinately high fee for candidates as a matter of last resort that most resort to way too much speaks to the fact that we’re not the most number savvy of functions. With the trend decidedly moving towards enterprise employers building search and sourcing functions in house or moving towards the embedded RPO model, why are so many employers still spending so much money on external recruiters to fill requisitions?

This capability gap seems pretty glaring – and it comes down to the fact that most organizations have no way of actually figuring out how well their recruiters are performing.

This means that when their recruiters don’t perform, the only math they have to do is calculate the percentage of a placement fee. This is not only reactive, it’s also bad business. While you can’t measure opportunity costs, you also can’t afford not to measure the bottom line impact and individual productivity of the recruiters responsible for requisition management within your organization. Not every recruiter is created alike – it’s just that few have any way to statistically measure, monitor or manage performance in a really meaningful manner.

Not knowing this information can be dangerous for any organization, because the best performing recruiters are the ones, inevitably, who are finding and hiring the best talent. Those who aren’t cutting it aren’t just costing your organization longer time to fill and higher costs per higher – they’re probably costing you the kinds of candidates your organization needs to succeed today (and tomorrow). A bad recruiter will bring in bad candidates, and no employer can afford that.

That’s why every recruiter needs to be accountable. Analytics are the obvious answer, but it’s the question of what, exactly, we should be measuring in the first place that’s the much bigger question we’ve got to answer if we’re ever really going to see a big impact from big data.

Setting Up The Save: Analytics & Agency Recruiting.

tumblr_mav19uKgUj1qa41ozo1_r1_1280This isn’t to say that external recruiters aren’t still a valuable, viable or often cost effective option; it’s just that as the space becomes more clustered and competitive, the pressure on recruiters to fill roles and make placement fees has skyrocketed.

This has led, largely, to a vicious cycle of too many recruiters going after too few candidates, leading to what’s largely a “throw shit and see what sticks” approach to staffing.

External recruiters don’t care about volume – they don’t want to work on a ton of reqs. They want to work on the reqs they’re the likeliest to fill, because that’s how they get paid. Which is a pretty powerful incentive to make a placement.

Thing is, without a solid approach to analytics, they’re playing the numbers, not playing the odds – which, odds are, never really works in recruiting.

So how do both corporate and agency recruiters make better hires faster with less resources and more competition without going completely insane in the process? Really, recruiters?

The obvious first step, as any recovering alcoholic will tell you, is admitting you have a problem, and it’s time for all of us to get real. That means instead of casting a net for every candidate out there, you need to make sure you’re strategically targeting the best candidates out there and building relationships for the future instead of candidate slates for the present.

The most placeable candidates, like the most desireable reqs, are always going to be in demand – which is why if you can’t invest your time in maintaining high touch relationships with high potential talent, then make sure you find an agency partner who can – and has plenty of great candidates already warm in the pipeline. Remember, speed kills.

Of course, no recruiting firm is right for every req. That’s why, in my experience, choosing the right external recruiting partner is one of the most strategic decisions any in-house talent pro can make. Since it’s statistically clear that at least 80% of you are forced to go to agencies (like it or not), that means someone else is going to be representing your employer brand and representing careers at your company to an extremely fixed market for top talent. This means you’re staking your credibility and reputation on them – and the importance of choosing the right partner can’t be overstated.

The right external recruiter has an established track record with proven results (and verifiable references, preferably placements) and an understanding not only of recruiting, but your industry, product and players. The best search professionals generally have experience in the specific vertical they’re recruiting for, meaning that they know what the job order entails and exactly what kind of candidate is needed.

Having a network built as a practicing professional helps, and is generally the best choice for the sorts of specialty roles that require going out to search in the first place. They possess an innate ability to spot top talent, and to sell them on an opportunity by connecting to them as professional peers instead of as third party recruiters looking for a placement. Forget social media. These are your real brand ambassadors.

It goes without saying: choose these external recruiters wisely. Of course, the only way to do that is through big data.

Big Data’s Bottom of the Ninth: Closing Out the Numbers Game

funny-math-for-dummies-comic-picsWhile you may have a difficult time measuring the performance and relative efficacy or efficiency of individual recruiters, the good news is that with external recruiters, the proof is in the placement – and that’s fairly easy to analyze.

For example, Fortune 500 companies such as United Labor Bank, Monsanto and Whirlpool – all multinational employers responsible for recruiting a very wide range of very specialty and niche positions – have always relied heavily on third party recruiters.

The problem was, without knowing which firm produced results or were the best suited for a specialized or senior level search, this required the third party equivalent of spray and pray.

Let’s just say, with every agency getting a crack at every req, without respect to whether or not they had any related experience or expertise in some pretty niche positions ended up without those prayers being answered – although with enough typewriters and enough monkeys, eventually, these companies were still stuck paying out a percentage for whomever was lucky enough to stumble across a qualified, interested and available candidate. Collateral damage be damned.

These firms know that to really close out a search, you’ve got to make the right call to the bullpen – and it’s all about managing for the situation. United Labor Bank Monsanto and Whirlpool were all able to score the save – and savings on both time and cost per hire – by using big data to accelerate the talent acquisition process. By applying software capable of tracking external recruiters’ submissions, accepted candidates, offers extended and placements made – and every other output metric in between – these firms were finally able to see which recruiters were actually statistically performing the best on each respective search.

This helped them realize which agencies, and which recruiters, were the best performers for searches related to specialized roles or highly niche skill sets, allowing them to cut down the amount of firms they were working with, reducing fill times and cutting recruiting costs. For external recruiters, they were no longer pressured to work on roles that were either completely outside their area of expertise or had so much competition for those placement fees that it was easier (and better odds) simply playing Scratchers instead of sourcing.

This led to them actually prioritizing these searches and producing the kind of results that have led to recurring business – and a knowledge and trust between the two parties that’s more or less the recruiting version of a walk off home run. That’s not Moneyball, of course – that’s just money. Which is pretty much the point (and opportunity) of big data and agency recruiting in the first place.

Remember: if you have the right solution, there’s no such thing as a math problem. Period.

0f85bffAbout the Author: Ken Lazarus is the CEO of Scout Exchange, a fast growing software company that connects employers with the best search firm and third party recruiters for every job using a sophisticated Performance Based Matching engine to harness sophisticated analytics – all within the applicant tracking system recruiters are already using.

Ken has extensive experience as an executive leader or CEO for a number of technology companies and continues to serve as an advisor and investor to a wide range of high growth, high performing startups in the space.

A PhD graduate in Aeronautics and Astronautics from the Massachusetts Institute of Technology (MIT), Ken is a lifelong Boston resident and baseball fan, where he can be seen in Fenway cheering for the love of his life: the Red Sox.

 

The 2015 iTalent Winner is – Hello Talent

Hello Talent – often the words muttered by a recruiter as the wake up and stretch each morning.

You’re a recruiter and you work hard. You have clients that love you and you business is growing. You have trouble reporting, managing your openings and connecting real time with your potential candidates that are already in your database, (or folders on your desktop). This is a real issue facing many of you reading this article right now. You are a modern recruiter and regardless of what your views are regarding automation and technology you need to be proactive and collaborative to get the most from your efforts.

Lets face it, excel spreadsheets, desktop folders, and even Gmail cannot sustain your business without additional love from a scalable platform. Back in October 2015, we took a look at Hello Talent and felt that they were on the path to success.  Well, success they are having.

Hello Talent Screen Shot

Winners of the 2015 iTalent Competition

Hello Talent, was chosen as the winner of the 2015 iTalent Competition hosted at the HRO Today Forum. There were over 120 organizations who submitted their products and after tallying votes by a panel of judges and the audience, Hello Talent was announced as the winner.

[quote]Dustin Robinson, product marketer who pitched for Hello Talent, said: “Hello Talent is the result of years of excellence in creating top-of-the-line HR products. Our product allows hiring managers, recruiters, headhunters, and even small businesses to engage in a collaborative recruiting process.

With Hello Talent they can work together to source, aggregate and share candidate profiles – plus it’s absolutely free. We’re honored that the judges and senior HR audience at HRO Today Forum Europe chose Hello Talent as the winner for the competition.[/quote]

Hello Talent is a free offering today and let us tell you now, it’s worth a play.

What is Hello Talent?

Hello Talent is a cloud-based sourcing and recruiting tool that you can use to organize, review, and share profiles of job candidates. The platform allows you to manage all this on your own or share talent communities with others to collaborate on the hiring process and get referrals.

You can also use our browser extension for Google Chrome to find candidates anywhere online and add them to Hello Talent with just the click of a mouse. Download it here. By focusing on relationships and collaboration instead of bulk screening and automation, Hello Talent will help you nurture and engage the best talent out there.

4 Key Challenges Solved

  1. Tag and review profiles: Create custom tags to note specific skills and experiences that stand out, then use the tags as bookmarks, highlighting anyone who has gotten a similar tag.
  2. Make recruiting a team sport: Share profiles, tags, and feedback instantly and easily. Use Hello Talent to work collaboratively to put the right people in the right jobs.
  3. Source profiles anywhere on the web: Source profiles from Facebook and LinkedIn and use our Google Chrome extension to add profiles from anywhere else you find them online
  4. Manage your social network: We all have friends and coworkers who stand out. Use Hello Talent to keep track of them, that way the next time you have a job or a project you won’t have to look very far to find the right people for it.

Hello Talent Is Built Around Talent Pools

After speaking with Dustin Robinson, Outbound Product Manager/Product Marketer at Talentsoft and Jim Klug, Product Manager at Talentsoft I feel confident that the product is getting even better.  They have taken the feedback received from the existing product and have been working very hard on a new user interface that will surely impress new and old users alike.

So say goodbye to loser ATS’ and hello to Hello Talent! Read my original post about Hello Talent –Freebie Friday: Hello Talent!

 

Jackye HeadshotAbout the Author: An international trainer, Jackye Clayton has traveled worldwide sharing her unique gifts in sourcing, recruiting and coaching. She offers various dynamic presentations on numerous topics related to leadership development, inclusionary culture development, team building and more.Her in-depth experience in working with top Fortune and Inc 500 clients and their employees has allowed her to create customized programs to coach, train and recruit top talent and inspire others to greatness. Follow Jackye on Twitter @JackyeClayton  and @RecruitingTools or connect with her on LinkedIn.

 

The More Recruiting Changes, The More It Stays The Same.

nothing-new-here“That which has been is that which will be, and that which has been done is that which shall be done; and there is nothing new under the sun.” – Ecclesiastes 1:9

If you couldn’t tell by the Aramaic, this quote, as quotes go, is an oldie, but a goodie – in fact, King Solomon wrote this about 3 centuries before the common era even began.

And the thing is, it was as true in antiquity as it is today – and will be tomorrow, too.

Now, while there are variations on the same basic themes (as Aristotle pointed out, there are only 7 basic kinds of stories, and those were already overused back when he was alive), we rarely take the time to scratch the surface. As soon as we do, we realize that no matter how novel or innovative something might sound, at the end of the day, we’re really dealing with the same old shit as always.

This isn’t always a bad thing. It’s just that everything that’s old is new again is nothing new – in fact, it’s a fact of life that’s about as old as life itself. And so it goes in recruiting, too. The more things change, the more things stay the same. And we continue to talk about the exact same things in an endless cycle of recognizing the problem, but failing to find any real solution. Or maybe talking about these problems is the solution. That’s the only thing that can explain the stasis we seem to be stuck in.

As much as we’d like to convince ourselves otherwise, at the end of the day, the way we make good hires hasn’t changed since Moses went out amongst the people to find a few good techies who were willing to disrupt a dynasty in order to bring the innovation of free markets and open trade to the Israelites – and score some of that prime real estate in the Promised Land in the process. Seriously.

The mechanisms of hiring really haven’t changed all that much over the course of history – of course, entrapment and enslavement had a much higher acceptance rate than most modern comp and benefits plans, but with way worse employee engagement and satisfaction. But ultimately, it came down to human capital supply, demand and cash flow – which is more or less the required equation for civilization, when you think of it.

Even with the technological advancements in recruiting today, they still haven’t eliminated the old ways – or rendered the talent Luddites obsolete. Print ads, broadcast media or plain old help wanted ads still work (as do job boards); just maybe not as efficiently or effectively as the other tools available to talent pros today. That doesn’t make them any less relevant, nor any less viable.

It’s just that sometimes, it’s easy to lose sight of the fact that as much as recruiting has changed over the years, the fundamentals remain the same. And those, it turns out, are timeless. Trust me.

For Everything, There Is A Season.

Same-old-shit-crazy-new-shitI’ve been recruiting and sourcing for almost 18 years now, a fact that both depresses me and also reiterates the fact that I’ve seen enough “change” to know that it’s more or less a mirage, really.

Back then, I started on a 30 day trial as a Senior Technical Recruiter – and the fact that I was a “senior” anything with absolutely no experience hasn’t changed, either – title inflation is timeless.

I remember the very first task I was assigned was to clean up what they referred to as “The Database.” This wasn’t as easy as it sounded, since this ‘database’ was, in fact, a battered aluminum file cabinet so overflowing with resumes that none of its doors would close (a fact that didn’t keep anyone from cramming even more in, it seemed).

Yeah, that’s how we did it back in the day, son. And it sucked. But I did as I was asked, starting with the letter A and calling every resume in there until, finally, I had learned enough “basics” to be granted a reprieve and moved to the next meaningless, menial “recruiting” job until, at last, I’d proven I’d mastered enough to move on to working my own reqs, which I’ve done pretty much uninterrupted ever since. Thing is, even after all these years, I’m still learning those “basics,” and the fact that in recruiting, there’s really no such thing at all.

Fast forward to the glorious year of our Lord 2015. I’m still here, a little older, a little grayer, and a little paunchier than before, sure, but a little wiser, too (or so I’d like to believe). While I’m still recruiting, that steel gray behemoth has been replaced by a sleek, streamlined CRM/ATS that’s supposedly so sophisticated that it’s able to automate pretty much everything but negotiating offers and taking candidates or clients out for that ubiquitous celebratory lunch.

I still rely on that database for contacting candidates, only these days I’ve largely abandoned cold calling for sending out intro e-mails en masse. It’s not that I’m lazy; I don’t mind picking up the phone, it’s just that the generations who came after us Gen Xers sure do, and you’ve got better luck getting them to answer a cold e-mail than a cold call, I’ve learned from experience. I’ve also learned that equity and long term incentives like stock options seem to be hotter than performance based incentives or direct bonuses, and that people care less about the title on the back of their cards as the name of the business on the front.

I’ve also learned to give my candidates a bigger picture view of how their role fits into the company, what their average day is going to look like, what’s expected of them and what success really looks like. This is the stuff they care about when you scratch the surface.

At the end of the day, recruiting really hasn’t changed all that much – pundits and prognosticators be damned; as Homer Simpson once said, “You should have taken an existing product and put a clock in it or something.” Because it seems that for everything that’s superficially different about the way that we do our jobs today, ultimately all we’ve really been doing is adding additional whirlygigs and widgets to the same stuff recruiters have always done, and pretending that iteration is innovation.

I’m not saying all the new tools and toys out there aren’t really cool, I’m just saying, well, they’re nothing new. They’re just productizing common sense; success still relies on decidedly old school stuff like building relationships and gaining trust, knowing what you’re talking about and delivering results.

But talking about the fundamentals, I understand, is decidedly less sexy than stuff like “social recruiting” (and by the way, all recruiting is social – and always has been).

With that in mind, I’m going to break down three lists I think every talent pro needs to know to succeed in the business of talent without really trying. These have helped inform my career – and perspective – and hopefully, they’ll at least remind you of what really matters in this business (and what always has). I’m also going to find the most cliche, most hackneyed and nauseating way of phrasing these lists, because apparently, that’s the language of recruiting “thought leadership” – and just because something is trite doesn’t make it untrue.

Warning: If these reek like a dirty diaper full of Indian food to you, well, now you know how I feel when I hear about how recruiting has changed, or what recruiters need to do differently. Because, seems to me, we’re getting a whole lot right, too.

Mark O’Brian’s Three Rules for Recruiting.

 

The first staffing firm I worked at was more or less a cult of personality – and at the center was the decidedly old school owner, a CEO who managed his services business with the same ruthless efficiency as a factory, and saw success in recruiting as determined more by process than people, more street smarts than “emotional intelligence.”

This sounds decidedly anachronistic to most today, and while the style of agency recruiting he taught seems to be fading fast, man, it was really effective at closing reqs back in the heady years of the late 90s. While my stint there ended in 1998, I still use a lot of what I learned from Mark every day, even today. His most important lesson is one I still haven’t mastered, as 18 years into this crazy career of mine, I’m still working on being a better listener than a talker, among the many other maxims I learned back in the day.

I remember at that job, Mark had a fairly spartan office for a CEO who also owned the joint; in fact, his desk had three pictures hanging prominently above it, so that anyone meeting him would be constantly reminded of who they were meeting and what he was all about. These pictures, for lack of a better word, each contained a 4 letter word.

They were crude, they were cliched, and they were absolutely as true in 2015 as they were way back then.

Rule 1: CTFM (Call The F-ing Manager): You need to maintain communication with everyone! Not just the manager, but the candidate too. If you do not pick up the phone (or send an email scheduling a phone call), well nothing will happen.

Rule 2: STFR (Send The F-ing Resume): No candidate’s paper is ever perfect for the role. If you are waiting for the perfect candidate, you’ll never send anyone. Personally, I send the resume, I state why I am sending them. I also address any of the concerns I can see the manager having. I always send the resume if I believe the person can do the job.

Rule 3: JFDI (Just F-ing Do It):  What else needs to be said? I’d rather apologize for having done something then for not having done something. Seriously, stop making excuses and just do your job.

The 3 Immutable Laws of Working With Candidates And Hiring Managers.

law-of-gravity-enforcedThese never changed, and never will – no matter what tool or technology you happen to be using, you’d be wise to think of these three truths that are pretty obvious, but sadly, seemingly often overlooked in talent today.

1. “Do Onto Others As You Would Have Them Do To You.”

It’s called the Golden Rule for a reason; the Torah, the Gospels, Charlie Sheen, Confucius, Buddha, Jerry Garcia, and the Dalai Lama, amongst many others, have said some version of this. It is still 100% true.

Try and walk a mile in someone else’s shoes. Treat people how you want to be treated. Yeah, I know you already know this one. So start actually following this rule. If we all did, we could finally shut up about candidate experience, as an added bonus.

2. Be Honest To Those Who Are Honest, And Also To Those Who Are Not. Thus, Honesty Is Maintained.

While Lao Tzu first proclaimed this tenet some 25 centuries ago, there seems to be very little of the Art of War involved in the proverbial “war for talent” – which means that any victory is going to be pyrrhic, at best. I know, dishonesty in recruiting is just crazy talk – and it’s probably unlikely that you’re one of those outliers who has candidates and hiring managers misrepresenting, misappropriating or flat out lying to your face on a daily basis.

But if you are, just know that duplicity is a professional hazard in these parts, but that doesn’t mean two wrongs make a right. It’s up to recruiters to operate honestly, openly and transparently – even if that’s rarely, if ever, reciprocated by the people we interact with every day.

I’m a big fan of the phrase, “All things are true, all things are false, and all things are meaningless.” This, for me, fairly succinctly sums up recruiting. But how I correlate this precept with the idea of honesty is through another ancient philosopher whose teachings remain as wise and prescient as Lao Tzu – of course, I’m talking about Obi-Wan Kenobi. As the Jedi great once said: “Luke, you’re going to find that many of the truths we cling to depend greatly on our point of view.”

I think we all know when an offer is way under market or just not all that great; we all know when that “all star” candidate turns out to be a complete dud, or when that supposedly awesome “opportunity” you’re hiring for is anything but for anyone with any sort of career ambitions, skills or a soul (we’ve all had those).

But we’re not fooling anyone – except maybe ourselves – by spinning or covering up these often inconvenient truths. Instead, we need to take the high road and stop playing games and trying to misrepresent or omit the stuff that candidates need to know if they’re going to make an informed decision – and stick around. It may make recruiting more difficult, and may require ditching the career copy and word games and aspirational BS and simply being blunt, even harsh, if we have to. We might lose a candidate or two, but ultimately, that’s worth regaining our reputation for honesty and transparency.

In the end, honesty is always worth the price. Even if it doesn’t always seem that way at first.

3. Do You.

There’s nothing new about this one – “be yourself” is about as hackneyed as it gets, but you should listen to your mom on this one – this is just another part of being honest. And honestly, I tend to find myself with more or less constant anxiety and consistent second guessing, which I suppose is part of what makes me, well, me – I am after all, a New York City Jew (even if I’m now living in California) and if you haven’t heard, we’re a little neurotic, as a rule. It’s just part of the package, and as much as it sucks for me, it’s who I am.

So, I remind myself of a few things. I look at my life as a movie, and see everything, completely unedited – all the outtakes, bloopers, missteps and deleted scenes are still there, like some sort of sadistic Director’s Cut. Everyone else, of course, just sees what makes it to theatres, and has no idea of the stuff that gets left on the cutting room floor. It’s my job to make that “Best Of” highlight reel as compelling as possible, but to never forget the inherent edifice that exists in how we wear faces to meet the faces that we meet.

Here’s the thing: not everyone likes me. Not everyone is going to like you, either. I like to be liked, in a weird, Sally Field Oscar acceptance speech sort of way, and think that we all share this need for external validation – in the people business, you’ve got to be something of a pleaser, what can I say?

The thing you’ve got to accept is that not everyone is going to like you. That shouldn’t stop you from being yourself – because no one who can’t find, uh, joy in your unique charms isn’t a person you really need to worry about pleasing too much, anyways. Unless, of course, they happen to write your performance reviews and/or paycheck. But even then, most of the time, it’s not worth it – you know, that whole “culture fit” thing and all.

Because if you have to be someone else on the job, then you’re not really doing your job.

Same Shit, Different Year: 3 Recruiting Challenges That Haven’t Changed.

kvn75In my 18 years of staffing, I’ve learned a lot. I’m still a student, and know the moment I stop that learning is when I need to find a new line of work.

Fortunately, these challenges prove just as pressing – and problematic – today as they did when I first started in this business almost two decades ago.

1.  Asking the Tough Questions.

This is as uncomfortable as farting in the middle of a meeting, or having to tell a hiring manager that the candidate they really wanted really doesn’t want anything to do with their job. You know you have to do it, but it doesn’t get any less awkward.

They include the standard questions that are kind of socially taboo.“What’s your eligibility to work in the United States?” “What is your current salary?” or “What was working with Bernie Madoff really like?” for example. OK, that last one might have been specific to one instance once in my career, but still. Goes to show that you’re going to have to confront some crazy shit.

These are just a small sample, of course, but the awkward questions come up with every call, and most are just parts of a standard screen. But the worst ones are when you KNOW asking that question is going to make the other person uncomfortable. “Tell me about this six month gap in your work history,” or “So, you’ve got a bachelor’s in poetry, is that correct?” and things like this.

Just treat these as business like as possible. Be straightforward, but also sympathetic. You know that if someone’s been out of work for a while, they’re not going to tell you they’ve been “getting high and watching the Empire Strikes Back,” even if that’s what we do between gigs. You let them say they’ve been looking, and leave it at that. Just warn them if you drug test before extending an offer…

2. Telling Someone They Screwed Up.

It’s hard to tell a candidate when they’re not going to get an offer when they did everything right, but someone else did it better. It’s even harder when the fact that they’re being dropped from consideration is entirely their fault, the result of some explicit mistake or implicit faux pas. Sometimes, legally, you have to dance around this stuff as you’re not allowed to disclose the real reason, even if it would help the person preempt making the same mistake twice.

So, you ask leading questions and hope that the candidate catches on, figures out what they did wrong and owns it. Sometimes, though, you’ve just got to wash your hands and move on – you can’t help a candidate help themselves if they’re beyond help. As recruiters, we tend to avoid the negative call, which is why so many people complain so much that recruiters never give feedback.

Sure, sometimes it’s awkward. Most of the time, it’s difficult. It’s never easy. But if you’re willing to tell someone they crapped the bed, well, you’ll both be better professionals for it. Even if they didn’t, offer feedback, not excuses. It’s our job.

3. Know What You Can Control.

Recruiters have to recognize that for them, “control” in any part of the process is more or less an illusion (or self-delusion, in many cases). Your job is to play matchmaker and intermediary, which means that ultimately, the Hiring Manager and Candidate are the arbiters of every search; the best you can hope to do is to create the best odds for an offer for the best candidate you can find, and that the hiring manager and candidate will both come away happy. This is a tall order, since both hiring managers and candidates are human beings, and thus, completely unpredictable, fickle and often uncontrollable.

My hiring managers and candidates still find ways to surprise me, even after 18 years; I never quite know what they’ll say, or do things I never expected. This is part of the fun, and you shouldn’t be surprised when a candidate who you’ve maybe exchanged a couple phone calls with throws you a curveball, or when a hiring manager filling a newly created position changes their mind about what they really want and make you restart the search from scratch. Shit happens. Not much you can do about it.

What you can do, however, is to ask the tough questions, take copious notes and collect enough information as possible to be able to reference in the future as needed and ensure you’re presenting all information accurately. You’ll be surprised, but your candidates and clients never should be. This means being as flexible as possible and able to pivot with no real notice when weird things do happen, as they always do.

Recruiting Doesn’t Change. Recruiters Do.

love-jobMost of all, though, remember that the biggest of big data or the most sophisticated of all SaaS solutions still won’t be able to figure out why someone gets an offer, and someone doesn’t – and even during postmortems and follow ups with hiring managers or decision makers, you’re unlikely to ever get a direct answer to the fundamental question of why one candidate was chosen or another was eliminated. If there’s a method to their madness, it’s one that’s more instinctual than intellectual, since it apparently is indescribable.

Humans are beautiful snowflakes, but our unique individualism makes us, well, flakes. 97% of your work as a recruiter is to get two people connected so that they can actually have a meaningful conversation – and hopefully, move forward with a new hire.

It’s all about facilitating getting people together and talking – the other 3% is luck, or, as The Dude might say, “Some shit that happens.”

It always does. And since nothing changes in recruiting, and there’s nothing really new except the cool tech and fancy tools out there in talent acquisition today, why, after 18 years, is my job still so damned satisfying? While every challenge I’ve listed happens to me more or less every day, every person I speak to, every role I work on, is fundamentally different. This means that there’s no right or wrong way to approach these challenges – just my way, and that’s still evolving. But figuring it out keeps this fun, exciting and fresh.

Unlike, say, talking about how much recruiting has changed, because it’s not only cliched and stale at this point, it’s also completely untrue. But what the hell do I know? I’m not a blogger, guru, ninja or black belt.

I’m just a recruiter. And proud of it, too.

unnamed (5)About the Author: Jeff Newman has been a full life cycle recruiter for over 17 years. He has never limited myself to one industry or one skill set. His staffing philosophy is simple: Interview to hire as opposed to looking for reasons not to hire and to speak with each person instead of simply pushing paper.
He prides himself on always making sure that what he is offering a candidate is an opportunity and not just another job. He is always honest about the pluses and minuses and tries to not just be a recruiter but a career adviser. He is currently using his own advice as a sourcing specialist for Indeed.
Follow Jeff on Twitter @Apikoros18 or connect with him on LinkedIn.

 

Blab : How Not To F*ck up your Software Selection

At some point, you will have to invest time, money and resources into making a software selection. Before deciding what tool you want to use, however, you want to make sure that you are not wasting time.  What software is best for you team?  What type of functionality are you looking for? Four of us joined our weekly Blab to speak candidly and casually about our personal experiences with selecting and integrating new recruiting software.

In our weekly Blab, the RecruitingTools team along with Chris Russel discuss:

  • Software Selection Process
  • Testing
  • Common Mistakes when Implementing
  • iCIMS (totally not planned!)

 

 

Jackye Clayton Contributing Editor Recruiting ToolsAbout the Author: Jackye Clayton is recognized as a people expert who puts the Human in Human Resources. An international trainer, she has travelled worldwide sharing her unique gifts in sourcing, recruiting and coaching. She offers various dynamic presentations on numerous topics related to leadership development, inclusionary culture development, team building and more.Her in-depth experience in working with top Fortune and Inc 500 clients and their employees has allowed her to create customized programs to coach, train and recruit top talent and inspire others to greatness.

Follow Jackye on Twitter @JackyeClayton or connect with her on LinkedIn.

It’s Time To Shut Up About “Active” vs. “Passive” Candidates in Recruiting.

post-57238-Mr-T-shut-up-fool-I-need-work-SgUJIf you know me, you know that I love to eat. This hasn’t always been the case; the concept of “good” food is a relatively new discovery for me, and it’s only recently I’ve found out that when it comes to eating, finding food that’s both good tasting and good for you aren’t always mutually exclusive concepts.

Of course, having grown up in a family where “advanced cooking techniques” involved putting a dish in an oven for 10 minutes at 450 degrees, I can’t take all the blame for my ignorance; hell, I didn’t even know what a beet tasted like until I was in my mid twenties, which was around the same time I found out not all vegetables came in cans.

My mother, despite being a capable military officer and devoted parent, really had little to no ability, desire or time to cook elaborate meals; instead, eating was seen strictly as a nutritional necessity, not as some sort of lifestyle luxury.

There’s No Accounting For Taste.

About the only thing I can remember her cooking from scratch were a batch of mashed potatoes a few years ago, which came out with the same consistency as congealed chowder, and about as appetizing. But, bless her heart, she tried – it’s just that wite hout any real skills or experience in the kitchen, and having neither the time or the money to really invest in meal planning & prep, we were stuck with the easy stuff.

We stuck cheap frozen foods in the microwave, added boiling water to our Ramen and Easy Mac, and, occasionally, we’d spurge and have a pizza delivered for a special occasion (or when we ran out of canned pasta). It was enough to keep us from going hungry, and let’s face it, saturated fats and sodiums taste pretty damn good – particularly when you’re a kid. All, it seemed, was right with the world; we were full, and we were happy.

Fast forward a few years, to when I was a recent college grad making her first tentative steps into corporate America. I was on my own, had a little bit of spending money for the first time in my life and an expense account that led to many “business dinners” with colleagues and clients whose pallets – and tastes – were far more adventurous (and elaborate) than mine. While I’ve never been a picky eater, per say (hard to be picky when you’re eating chicken nuggets, corn dogs and frozen pizza, frankly), I have to claim ignorance when it comes to the quality of the food I consumed.

Too Much Of A Good Thing.

Oh+look+people+getting+quot+tired+quot+of+something+again+because+all+_b41c8f48001780fadea29d977b086592Of course, it didn’t take long for me to turn into something of an accidental gourmand, discovering that I liked sirloin instead of a standard double cheeseburger because the quality of meat was far superior, or that the source of vegetables or produce actually has a pretty significant impact on flavor.

I even started distinguishing between stuff like a tart and a torte, and could tell the difference between Hollandaise and Bechamel sauces; I roux the day before I figured out the mother sauces of French cuisine (and yeah, I know that makes me sound a bit pretentious, but at least I don’t feel compelled to share photos of my food with the world before chowing down).

Now, I’m not really a gourmand or a highfalutin haute cuisine snob; generic commentary about whether or not a restaurant serves food farm-to-table or the particular provenance of their produce is about as sophisticated as my culinary arts actually get.

And even now, as something of a sophisticate when it comes to eating, I’m still not above slumming it under the sneeze guards at an Old Country Buffet once in awhile (as I admit I do about every six months or so).

Full confession: you haven’t really lived until you’ve taken a swim in that chocolate fountain, my friend. Chain restaurants and comfort cooking might not be great for you, but hell, they taste pretty damned good, and sometimes, that’s really all that matters.

Some people, though, take their adhesion to “slow cooking” and “eating local” a little too far – while I think it comes across as a little pretentious, and a whole lot of douchey, asking where everything on the table comes from and how it’s prepared, I guess that’s what separates me from the hipsters who get off on this sort of specious “social responsibility,” a dynamic evidenced in the following clip from Portlandia, which succinctly (and hilariously) sums up the sentiment of so many foodies who take this all a little too far, frankly.

Think Globally, Source Locally.

While I’m pretty sure we can all agree that these characters took this game of chicken a little far, I’ll admit that there’s still some value in locally sourcing, sure. You’re not only helping local businesses and food producers thrive, but you’re helping sustain the collective health (economic and otherwise) of your community, too. But does a chicken raised across the country in some sort of industrial farm really taste any better than a grass fed, free range, organic chicken from that co-op across town?

I know all you foodies out there are rolling your eyes and screaming, “YES! IT DOES!” at the screen, but the fact is, that you have a preference puts you squarely in the minority when it comes to consumers, and most of us are more concerned about price point than proximity, and make food choices on convenience, not provenance.

Most of us just want food on the table, ideally as cheaply and easily as possible. While it matters where it comes from, sure, whether or not the dead animal you’re eating had a happy life or was surrounded by family and friends? Excuse me while I roll my eyes a little and retch – that not only defines the concept of “first world problem,” but is also taking things a little too far, no matter where in the world you happen to live (even Berkeley).

This cynical sense of, “come on – you’ve got to be kidding, right?” I feel when someone’s talking about the evils of GMOs or how they only buy their produce from some local farmer instead of just going to the grocery store like everyone else is exactly how I feel when I happen to listen into the never ending debate on “active” versus “passive” candidates that’s always been such a point of contention among recruiting and HR practitioners.

Whether I see yet another pointless Facebook discussion on this topic, or another asinine headline show up in my Twitter feed, I bite my tongue and do my best to withhold my snarky comments (although my editor does a good enough job on his own, frankly).

But we’ve recently reached the point where I simply can’t stay silent on this stupidity any more – the “passive” versus “active” candidate conversation continues to pop up regularly, an unwanted nuisance that, like herpes, never seems to completely clear up – and seems, if you pay attention to social media and content marketing, at least, this topic seems to be coming up even more frequently than before.

Why It’s Time To Shut Up About “Active” vs. “Passive” Candidates.

i-want-you-to-stfuThe volume of discourse on this completely specious trending topic has left me annoyed enough to actually start asking some critical questions and pushing for statistical proof that these “passive” and “active” labels even matter at all – to candidates or to recruiters.

And, while the conceptual conversation continues unabated, it should come as no surprise that no matter whom I ask for any concrete evidence or quantifiable proof of why we should even care about this distinction, no one seems to want to share anything of substance.

Proving an argument, turns out, is a whole lot harder than making one, which I suppose is the entire point of social media these days. But still. For the inordinate amount of attention we pay to this topic, surely recruiters have some sort of justification for continuing to bifurcate candidates along these sweeping and superficial labels, right? Yeah, not so much.

Here’s my fundamental problem with the “active” versus “passive” conversation. As much as we want to talk about “building pipelines” or “developing candidates” or “hiring top talent,” at the end of the day, the best a recruiter can really hope to do is to put the right butt in the right seat at the right time. So why the hell does it matter where those new hires are coming from?

Why the hell should an employer actually care whether that candidate quit a job for an opportunity on your team, or had recently been laid off from a position which required the same sort of skills and experience for which you’re looking to hire?

I’m still waiting for someone to come up with a halfway decent answer for me, but in the meantime, I’ll continue to wonder why, exactly, we care.

We talk a lot about the overlap between marketing and recruiting, and while most of that conversation tends to be a little ambiguous or high level, or else imbued with a specific agenda (often to sell some sort of product or service), this is one critical area where recruiting and marketing actually have quite a bit in common. At the end of the day, both functions just want people to show up and convert by answering a call to action, whether that’s to apply for a job or to buy a product.

But you will never, ever hear a marketer say, “well, this customer’s OK, but I really wish they came from our TV spots instead of our social display ads.”

For a marketer, a qualified lead is the end goal, and while the means matter, ultimately, transforming that lead into a paying customer is all that matters.

So why do recruiters care so damned much about where their qualified candidates are coming from and whether or not they’re actively employed or not?

Really, recruiters seem to be the only people who give a shit – and why, exactly, this is the case remains something of a mystery to me.

The Real Candidate Labels Recruiters Should Care About.

il_fullxfull.673919145_sdalMy theory is that we’ve perpetuated the myth that passive candidates are better than active ones as a means of self-preservation. After all, one of recruiting’s major functions is to act as the gatekeeper, and direct sourcing efforts are tailored to proactively deliver candidates who aren’t otherwise on the market in order to justify their jobs and the resources they’re given to go out and find the people who don’t want to be found in the first place.

While turnover is a good thing for recruiting, for some reason, the individuals impacted by this naturally occurring phenomenon are penalized for what’s more or less a necessity in business, and a necessary prerequisite for recruiting organizations – without supply, no employer could ever hope to meet their demand for top talent.

Conventional wisdom states that an active candidate not having a job is a glaring red flag, we all know that for the people we’d actually hire, their employment status is cyclical and situational.

Whether they have a job to do has, in fact, no bearing on how well they can do the job you’re looking to fill. And most hiring managers don’t really care (or even know) the “active” vs. “passive” vocabulary – and if they do, it’s only because their recruiters have miseducated them on this enduring myth and ubiquitous misperception.

Come to think of it, I wouldn’t be surprised if the “active” vs. “passive” battle is just another unfortunate byproduct of lazy recruiters finding a way to expedite the hiring process and force stakeholders into making quicker decisions and extending better offers faster; if a candidate has other options or is currently employed, then speed is essential to ensure that you’re able to land that squirrel before the competition and make them an offer that they can’t refuse.

If a candidate isn’t currently employed, there’s a whole lot less urgency involved – which inevitably extends time to fill (“they’re not going anywhere” or “let’s see who else is out there”), a metric which for many recruiters serves as one of their primary performance indicators. In other words, active candidates negatively impact a line recruiter a whole lot more than they do for the line of business who happens to be hiring.

In fact, hiring managers can actually benefit from hiring active candidates, since they generally have to pay less for the same skill set and experience while also improving retention and productivity over their “passive” counterparts, at least statistically speaking. Too bad being a gatekeeper often means recruiters shutting out the best options for the worst reasons (if they have one at all, that is).

To me, if someone asks you if a candidate is active or passive, there’s only one real answer: “why the hell do you care?” From my experience, there’s a good chance they won’t be able to justify this bias beyond simply repeating the same erroneous myths and misperceptions that caused this staffing schism in the first place. Either way, it’s not meaningful enough to waste the sheer amount of time and energy recruiters spend discoursing and dissecting these concepts, yet here we are, still talking about the same shit.

Source of Hire Optimization: Why Active Referrals Beat “Passive” Candidates.

57078056So, instead of determining candidates’ viability through their current employment status, maybe we should focus on the stuff that really matters when it comes to attracting, hiring and retaining top talent – a list that inevitably begins by analyzing source of hire. And no matter how you cut it, referrals have long been the highest performing, lowest cost source of hire, accounting for more than half of all external hires last year (as they have for well over a decade).

Unlike other sources, employees are actually more likely to refer an active candidate than a passive one for a position – after all, we only hear that someone’s looking, in most cases, when they’re an “active” candidate – hence, why they’re reaching out about jobs, employment status be damned.

Yet, ignoring the “passive” and “active” labels, looking at referrals, it becomes pretty obvious that this is a label that’s far more important in determining quality of hire, regardless of that candidate’s current employment status.

Referrals have the highest applicant to hire ratio (estimated at over 400%, according to recent CareerXRoads data), enjoy the highest retention rate and play a critical role in the overall development of your company’s culture, employee engagement and overall job satisfaction.

Referrals mean that not only are your current employees willing to recommend working at your company to their friends and family – a fairly telling endorsement that people actually like working for you – but are more likely to be able to present candidates with the soft skills and cultural alignment that most recruiters and hiring teams might miss during the standard sourcing and screening process.

There’s no better person to tell whether or not a candidate can cut it at a company than someone who’s already working there.

So, let’s shut up on “active” and “passive” candidates and spend that energy on figuring out how to crack the code for driving more qualified referrals and optimizing employee referral programs, instead. At least there’s going to be a payoff that’s greater than another disposable blog post or unsubstantiated social media update – and for recruiters and employers, that’s really the bottom line.

Now that I’m done venting, here’s some actionable advice, along with some real tips and tricks, that really work for building a world class referral program.

After all, I wanted to provide some tangible takeaway in this post – if I wanted to idly sit around and bitch about what’s broken, well, I’d probably crank out more crappy content on how awesome passive candidates are (barf).

3 Simple Steps for Creating A Killer Employee Referral Program.

asset-company-workplace-ecard-someecardsSo here are 3 easy ways to get the most out of your employee referral programs and eliminate the need to even care about “passive” and “active” candidates once and for all (and about damn time, too).

  1. Make sure your company doesn’t suck. You won’t get referrals to a culture that sucks. It just won’t happen. So if you’re at a startup, start getting those referrals in now. If you’re at a big company, start giving teams ways to build morale. Most of us, unless you’re working with a bunch of interns, have worked with other people who do jobs like ours before. Incentivize us by making us love our job and want to include other people.
  2. Make the referral program known. Your employees need to know it exists or they won’t do it. I’d add that a certain level of gamification also helps here. That means prizes that people actually want, points and leaderboards – that kind of thing. Make it a competition if that motivates your employees. Then, recognize winners.
  3. Treat referral candidates with some damn respect. Give your team no more than 48 hours to respond to referral candidates. Reward your current employee’s time by getting back to their friends quickly. No one wants to have to keep telling a friend “well, I don’t know the status.” It’s not their job to inform the candidate and improve the candidate experience. It’s yours.

If you’re going to try to tell me that “active” and “passive” candidates are more worthy of your focus than referrals, you’d better have the facts to back you up – and I’m talking citable statistics and reliable resources, not some entrenched, erroneous opinions and anecdotes from other recruiters or hiring managers.

While many may prefer to cling to the conventional (and stupid) mindset of only wanting to look at currently employed candidates, it’s your duty as a recruiter to change those minds – after all, if you don’t coach them about what matters in recruiting and what’s a load of horseshit, then you’re not doing your job.

And the last thing you want is to become an “active” candidate yourself. Because, well, we all know how that goes.

katrina-300x300About the Author: Katrina Kibben is the Director of Marketing for Recruiting Daily, and has served in marketing leadership roles at companies such as Monster Worldwide and Care.com, where she has helped both established and emerging brands develop and deliver world-class content and social media marketing, lead generation and development, marketing automation and online advertising.

An expert in marketing analytics and automation, Kibben is an accomplished writer and speaker whose work has been featured on sites like Monster.com, Brazen Careerist and About.com.

A graduate of Pennsylvania State University, Kibben is actively involved in many community and social causes – including rooting for her hometown Pittsburgh Steelers.

You can follow Katrina on Twitter @KatrinaKibben or connect with her on LinkedIn.

 

Making It Rain: The Recruiter’s Guide To Raising Venture Capital.

BN-JR824_HRRecr_G_20150803201800VCs want your company to be worth a lot of money – but that’s a bad thing.

HR and recruiting, historically, haven’t exactly been hotbeds of innovation; instead, these back office functions have often found themselves consigned to the dustbin of obsolete enterprise technologies and a legacy of failed systems, on premise and otherwise.

This has created a deepening capability (and credibility) gap in terms of technology between talent acquisition & management and the business they serve.

With over half of all enterprise employers planning on investing in HR or recruiting technology this year, with overall spend in the category, estimated in 2014 at nearly $11 billion in North America alone.

This staggering number looks likely to continue its growth in the coming years with North spend projected to exceed $17 billion in 2019 – a boom market that shows no signs of letting up. With the seemingly insatiable demand for what’s new and what’s next in this increasingly competitive, increasingly lucrative category, venture capital has been flowing to emerging and established players alike.

VC firms have already poured an a record setting $811 million in HR and recruiting technology related investments in the first half of 2015 alone, according to the Dow Jones Venture Wire (see chart). So why are VC investors making such a big deal about what’s been such a frequently overlooked category? And, more importantly, why should HR and recruiting professionals care about VC in the first place?

Breaking Down the Basics: VC in A Nutshell.

comic_getrichFor the uninitiated or blissfully unaware, venture capitalists supply funding to early and growth stage companies, giving these startup businesses much needed cash in exchange for equity in the company, typically in the form of preferred stock.

This means VC investors only make money when they can cash in on their share of returns if the business is either acquired outright or merges with another company (M&A), or else becomes publically traded through an IPO event.

These high risk, high reward investments are generally hedged, with returns tending to follow what’s referred to as a power law distribution. This means that even the best funds will see 30% of their investments come up completely empty, and even for those companies that don’t go completely belly up, another 50% will end up with the VC taking some sort of loss (inclusive, of course, of the aforementioned 40).

In even the best case scenarios, only 5-10% of VC investments generally return more than 10x the initial investment, with some major outliers returning entire funds.

Oh, and they’ll miss a few too.

For entrepreneurs, those VC investments can come with some pretty significant strings attached; generally, VCs will try to take a 20% position (or more) in the companies in which they’re investing, to take a board seat, and retain some special privileges, such as the ability to block any potential sale of a company if a certain valuation target hasn’t yet been met (while an entrepreneur may get rich from a $30 million exit, that cost is often not even worth the board seat at most VCs.

More Money, More Problems: Return Profiles and HR Technology

The equity a VC generally owns in a company typically increases in direct proportion with the overall volatility – and thus, the assumed risk – of the businesses in which they’re investing. If, for example, there’s a 30% chance that a VC is going to take a total loss on an investment, then that risk has to be balanced by potential rewards; while VCs may be willing to risk it all, then those same investments also need to represent a decent chance for a return of 10x.

And even if there’s only a minimal 1% chance of an ever elusive 100x investment, then as a VC, I’m doing myself lots of favors by putting my money where my mouth is.

So how, exactly, do investors value companies? Let’s take a look at one of the most commonly used models:

Picture1

 

In the above table, each row represents a potential exit scenario. In the first row, the company is worth $0, and therefore, the investor gets nothing – pretty much the worst case scenario for any VC. In Row 2, the company is valued at $10 million. Now, I know that looks like I made an error here; after all, doesn’t the investor only get 20% of the proceeds of the sale of a company?

Well, usually, that’s true, but remember: VCs are using a lot of preferred security to invest in companies, and therefore, have safeguards in place to ensure that they get paid before you do and get all their money back, first.

So, this means if a company sells for $5 million (seems like a lot, right?) but the VC had put in a total investment of $5 million, that company’s other stakeholders – such as its founders and current employees – would make a grand total of nothing. Zero seems like an awfully small sum for the amount of work that generally goes into an exit event for a startup.

Of course, in practice, most VCs will throw some money into the pot to create some sort of incentive to sell the company while requiring the principal talent (who are generally a startup’s principal shareholders, too) to stick around for a while after the acquisition and help protect the VCs investment – and maximize their own payout, too.

Hopefully, this is illustrative of how money actually gets divided after a “mediocre” sale actually closes.

080414 miracle 1The Moral of the Story:

Only raise venture capital if you’re OK with selling your company; even if the price tag is less than you expected, it’s only a failure if you and your investors lose money. The greatest success you can have is to generate a positive return.

Now, I know most of you are already bored to death with this oh so exciting spreadsheet – but the one last thing I’d like to point out is the final row, which shows that there’s only a 5% chance of this company selling for $500 million.

Despite these slim odds, however, that minimal possibility drives real results when it comes to the projected value of this business – a full 50%, in fact.

I know a lot of this is pretty hard to understand; I know many of you out there are thinking,  “OK, buddy. I get that you have some fancy MBA but c’mon, man. This is complete BS – no one ever bets on a number that almost never hits.”

You’re right – investing for a VC is a lot like putting down everything on a 00 bet on roulette. While hitting that number doesn’t happen very often, play it 100 times, and there’s at least a 93% chance of that thing that’s probably never going to happen having the probability of actually happening.

This is why, if I’m a VC, I’m so careful to hedge my bets – many of the larger funds may have their investments spread out across a portfolio of 150 different companies. So, with 150 different investments in play, there’s a 99% chance (literally, I’ve done the math) that at least one of these 5% chance scenarios will hit across all my companies.

VCs, unlike entrepreneurs, who almost always only have their eggs in one basket (sorry, sucks to be you), build and maintain portfolios to increase the probability of hitting the 5% chance scenario almost 100% of the time.

To go one step further, I’m willing to take outsized risks across my portfolio to increase the probability of these massively outlier outcomes.  If I increase the overall chance of zero by 10%, but increase my chance of an outlier by 1%, I create a TON of value.  For every 1% increase in the chance of that outlier, I increase my expected return by a full $1 million dollars. 

Talk about a favorable risk-reward ratio.

Something Ventured: What VC Really Means for Recruiting and Hiring.

As an investor whose portfolio inherently provides me with enough assumed risk to misfire on many of my shots on goal, I would be smart to increase the relative risk of each of my companies; the more risk represented by my overall investment, the bigger the overall increase will be to the overall value of my portfolio.

Of course, realizing this return means not only taking large risks, but making sure they’re calculated risks, too – such as burning cash on stuff that’s going to drive business and bottom line growth forward, like aggressively reinvesting in experienced sales forces or launching new and innovative product extensions, for example. For the entrepreneur, this associated risk increases their theoretical value along with the VCs, but of course, they are taking their chips off red and putting them on the proverbial 00.

They may hit it, but there’s a 95% chance your numbers won’t come in – and entrepreneurs, unlike VC investors, only get to spin once.

Periodic-Table-of-HR-Tech-1

I know what you’re thinking by now – there’s probably no way that, as an entrepreneur, you’d even think of raising VC – but the point of this post isn’t to discourage you from seeking investments – instead, it’s to provide a very straightforward, very honest look at what, exactly, you’re getting yourself into if you do decide to raise venture capital. Now, not all VCs out there are looking to screw you or your company over.

In fact, most of the investors I know are shrewd company builders who are passionate about partnering with entrepreneurs to grow their business while transforming – and taking over – a market. They will open doors you never even knew existed, help you find the perfect executive team to help your business grow, negotiate and facilitate your exit, and generally, sweat the small stuff so you’re free to worry about your company’s bigger picture.

No matter how supportive or sympathetic an investor might be, however, remember that at the end of the day, they are capitalists with a fiduciary duty to their LPs; this means, by law, that they’re required to do whatever it takes to make as much money from their investments as possible.

Sometimes, these ends might conflict with your own personal incentives as an entrepreneur, but the thing is, the means never really mean anything with a VC – only the ultimate goal of making as big a profit off of your business as possible.

Consider yourself warned.

The Recruiter’s Guide to Raising Venture Capital: A 2 Part Series.

Next week, we’ll take a look at when a company should raise VC, what to look for in an investor, and a checklist to help determine whether or not you’re really ready to take on venture capital – and the many risks (and rewards) that come with it.

Stay tuned to Recruiting Daily for more tips, tricks and trends on what every talent pro needs to know about HR and recruiting technology and raising venture capital.

phil strazzullaAbout The Author: Phil Strazzulla is the founder/CEO of LifeGuides, a recruiting and HR technology startup which builds software to help make it easy for employers to create the content that explains why their company is a compelling place to work – and effectively attract top talent.

Before LifeGuides, he was a venture capital investor at Bessemer Venture Partners, the oldest VC in the world which has made investments in companies such as LinkedIn, Cornerstone On Demand, Skype, Yelp, Pinterest and many others.

Phil started investing at the age of 11 when he opened his first brokerage account and hasn’t stopped since.

Follow Phil on Twitter @PhilStrazzulla or connect with him on LinkedIn.

 

Santa’s List: 24 Recruiting Tools Every Recruiter Needs For Christmas

‘Tis the season of giving, a time of reflection, love and thankfulness. Okay, Thanksgiving is over, so now we get SANTA! In the spirit of Christmas, how about 24 tried & true recruiting tools in honor of the countdown to a relaxing holiday, regardless of religious background? Santa gave me the nudge, and he likes everyone (I do still believe in Santa).Santa's List: 24 Recruiting Tools Every Recruiter Needs For Christmas

For some context, growing up, we had a family tradition every December (ok, until I was 16). Every morning my brothers and I fought – uhh, communicated – about who got to open the NEXT day on the Advent calendar – and the 24th was the most special day (among the most fought, wrestled, tripped, toilet flushed-while-in-the-shower, day). In the true essence of forgiving and forgetting the ghosts of Christmas’ past, I’d like to pass on to each of you tools to make your year that much brighter.

These 24 tools add on to this awesome extension toolkit, and will hopefully wrap your personal playbook into a nice, cheery, bow.

And now, fellow recruiting pros, 24 additional tools encompassing multiple industry categories so you can dominate recruiting like a boss (or in this case, an elf). Let’s face it, it would be cool to be able to accomplish everything at Elf speed.  Let’s give it a shot with new, unique tools in our belt

24 Recruiting Tools Every Recruiter Needs For Christmas

Santa Gets Social

Juice.li: Download this little beauty to integrate into you content management planning.  Juice.li delivers daily articles based on your desires, community and what they’re sharing and reading.  No more searching, just sharing.

HappyGrumpy – Do you want to know who likes you and who doesn’t on Twitter?  OK, well, who you make happy?  HappyGrumpy is a free emotional Twitter tool.  Cool, huh?

Hashtag Analytics: If you’re down with #hashtags, this is a pretty robust product to understand how you’re doing on Twitter & Instagram. 

Post Planner: Facebook and Twitter Marketing at it’s best at only $5/month.  Set it, forget it.  It’s the easiest tool if you want a Facebook brand without much effort.

CONTENT IS KING for CHRISTMAS (yes, in recruiting, too)

Visual Hunt: Photos, photos, photos. We all know content isn’t worth its weight without a pretty picture.  Now you have a massive search engine for all free stock photos.

Notifier: It’s nice to be notified on demand, right?  And engaging people sharing your content, well, we know that’s important!  Check this out.JustReachOut: Do you want to get your content picked up?  JustReachOut.  Brilliant name, right?  Solid reviews both online and personally. 

Grammarly: Can I tell you how many times Grammarly saved me from embarrassing mistakes on email and proposals? With the paid version my grammar and vocabulary improved dramatically.  If that’s a pain point for you (wait, did I say that right?)

Hemingway 2.0: This little magic editor is succinct. Literally. Hemingway edits your writing for clarity. Write better for $9.99.  Never thought I’d say that!

Merry Marketing Eve

Wiselike: Do you have experts on your team?  Of course you do!  Showcase them like the boss they are for free.

Teleport: How many times have you been in one city and wanted to get a Uber for a candidate in another state?  Now you can.  

Musica.ly: We have JibJab, and now there is Musica.ly. Candidates want an experience, so why not give it to them?! (Tools and ideas. Merry, merry! ). 

Evolero:  Create solid event websites.  We all know that’s where half our work is headed: hackathons, ‘athons, speed-meeting and events galore.  Evolero is quickly becoming a robust and easy platform to use. 

Zapchain:  Creating communities is an art we haven’t quite conquered.  Now, there’s a way to incentivize people, so you get the information you need.  Think focus group on steroids. 

Check Off Your List, Twice

Wonder: How often do we spend going down a rabbit hole researching something while we should be executing?  Wonder solves for that.  It’s $20 a pop or buy in bulk. $20 for a few hours of intellectual research?  I was sold!

Shido Slack: $39 for someone to do almost anything in ~4 hours. Seriously. Delegate.

Pipefy:  Probably one of the most efficient organizers out there, built by genius growth and productivity pros.  It keeps everything in one place: forms, spreadsheets, email threads, hiring pipelines plus can integrate with almost any platform (phew). 

A Stocking of Sourcing

Fileapp: Get the missing data added automatically. Sweet!  Fileapp is a Pipl product.

Sane Connect:  A sales product using employees? Common. We’re in sales. Use your most powerful assets.

Salestools: Now you can use you LinkedIn account as an asset, instead of ignoring it.

Email Validator: Simple and perfect.

Conspire: Warm leads are our thing. Conspire gives you rankings of the warmest of the warm (and an extension).

Enchanted Extensions


Mattermark:  Quickly view important company information like location, funding, and employee count without ever leaving their site.

Facebook Search:  much success has come from this one!  But you knew that already.  Merry Facebook!

It was difficult for Santa and me to decide on the top 24. So, for some stocking stuffers, and JUST IN CASE you’ve been hiding under a pile of coal, the following will make the end of 2015 and 2016 very merry: CrystalKnowsLeadIQName2Email and, of course, Prophet.  I’m always checking my Product Hunt list twice to decide what products are naughty or nice. Try it out.

Since it’s impossible to leave you sans sarcasm – I mean FUN – for any Scrooges you’ve bit your tongue with all year long, here is one, okay two sites to keep in your back pocket (even if just for a few laughs).  If you have additional tools Santa should add to the list; please add below.  We wouldn’t want to put you on the naughty list, now would we? 

 

 

About the author

Marie Burn Recruiting Tools AuthorMarie Burns is a Boston-based talent acquisition and management, culture, and organizational development leader who rapidly scales companies, primarily startups and mid-sized orgs, through strategic programs, motivating teams and executing fresh, innovative ideas. She is consistently referred to as a “hired gun” (no pun intended). She founded TalentAmp in 2014 to accelerate, empower and train entrepreneurs, start-ups, hiring managers and recruiters on how to effectively hire the best and knock their hiring strategy out of the park.

Marie speaks at national and local conferences, panels and coaches young entrepreneurs in the Northeast, from high school to post-Bachelor. She is published with some of the cool kids such as The Muse, Mashable, Forbes and the likes.

Call of Duty: How PwC Is Getting Veteran Recruiting Right.

size0Just last week, the Department of Defense announced that veteran unemployment had reached its lowest levels since April 2008.

While an estimated 6.9% of veterans were unemployed in October 2013, two years later the most recent BLS figures suggest that number has shrunk to just 3.9%, well under the national average of 5.0%.

According to the DoD, this is the result of a “concerted national effort” to hire veterans, including “essential skills training” and “the many layers in the public and private sector to hire veterans.”

While these numbers are obviously good news, the fact of the matter is that these efforts must continue in order to deal with the estimated 400,000 service members expected to transition to the civilian workforce over the next year, the result of a major downsizing across the U.S. military.

With so many veterans joining the ranks of those looking for work, many organizations are extending and expanding their efforts at veteran recruiting, actively working to address, minimize and overcome the often overwhelming challenges inherent in integrating into the civilian workforce.

This, of course, is as much a victory for the employers as the veterans they’re looking to hire.

According to Susan S. Kelly, who runs the DoD’s Transition to Veterans Program Office,

“Employers have been telling us the last 18 months, ‘We can train them in technical skills, but the [other skills] take years to develop. The heads of corporations say they spend millions of dollars every year teaching their managers leadership skills, and employers have learned that veterans arrive at the workplace already equipped with these skills.”

Serving Those Who Served: Behind the Scenes with PwC’s Veteran Recruiting Leader.

AAEAAQAAAAAAAAZDAAAAJDQwZDQwOTIzLTAyNDQtNDQwZS04YjVjLTNiMDBjOTQ2YjEzNAThat’s why Chris Crace, a former captain in the United States Marine Corps, is uniquely qualified for his new position as the first US Veterans Advocacy and Recruiting Leader for PriceWaterhouseCoopers (PwC), one of the “Big 4” audit, assurance and consulting firms.

In this newly created role, Crace will lead “development of a national veteran’s advocacy strategy as well as talent acquisition sourcing activities across the firm,” according to a press release announcing his appointment.

Not only will Crace bring his military experience – and leadership skills – as an officer in the Marines to this new highly visible, highly strategic talent acquisition position, but also almost a decade of recruitment experience in a variety of leadership roles at KForce, most recently as VP, Vendor Strategy and Delivery, responsible for overseeing all third party sourcing, contracting and relationships for this global staffing firm.

Having successfully transitioned into the private sector after a successful seven year career in the USMC, having landed a job at KForce as a project director and working his way up through the ranks, Crace has a very unique view into what life in the military is really like, what it takes to be successful once you get out, and the world of work really works, courtesy of his experience as a recruitment industry insider.

I recently had the opportunity to sit down with Crace to discuss his background, his newly created role and what recruiters and employers should know about the current (and future) state of veteran hiring. During our time talking, several things became very apparent, particularly the fact that Crace is extremely smart, articulate and personable.

But what really shined through during our conversation is that he’s got an overwhelming, infectious desire to help the veteran workforce succeed; for him, the stakes are intensely personal.

I get this, of course. Having served myself, I understand the significant hurdles faced by veterans leaving active duty and joining the civilian workforce.

Why Employers Still Suck At Veteran Recruiting.

vetWhen I asked Chris what he felt were the biggest challenges facing transitioning veterans, he replied the most significant hurdle isn’t always finding work, but finding meaning in that work. “It’s finding their direction, what they want, and what they should be doing,” Crace said.

According to Crace, “education is also a huge issue” facing veteran hiring today; that lack of education, Crace explained, was the fact that many companies simply don’t have a great awareness or understanding of how to translate or leverage military experience and skills in their business.

These misperceptions and misunderstandings that extend not only to frontline recruiters, hiring managers and senior leadership at potential employers, but also, are endemic among veterans themselves.

“Most of our predispositions about veterans are a byproduct of our lack of education about veterans,” Crace said.

“Simple things like knowing what a veteran’s job was in the military, for instance, require education for non veterans to understand, and it’s an education that most employers lack completely.”

This really resonates for me – being a veteran who, like Crace, has been an outspoken advocate for veteran hiring in my years as a recruiting and talent acquisition practitioner, I’ve also experienced this phenomenon. I’ve found that pretty much every negative issue or talent challenge plaguing veteran hiring can all be traced to the single fact that most recruiters just don’t know what serving in the military is really like, just like most veterans just don’t know what the civilian workforce is really like, either.

This lack of education is really the root cause of most veteran recruiting challenges – but the issue is many organizations, and many veterans, simply don’t know what they don’t know. The good news is many organizations, like PwC, are taking proactive steps to fill in this often daunting gap between employers and the veterans they’re actively trying to hire.

Of course, PwC isn’t alone among employers in their commitment to helping veterans transition to the civilian workforce; today, numerous programs exist at a litany of employers designed with attracting, recruiting and retaining transitioning veteran talent.

Why Veteran Recruiting Is A Win-Win.

Hire_A_Vet (2)When I asked Crace what existing best practices or existing programs he’d be implementing in his new role, he responded that while he thought many employers’ veteran recruiting programs were great in terms of design and intent, their effectiveness varied significantly, and that ultimately, it all comes down to the people behind the program.

“If those people are good, and those people really care about what they’re doing, it’s going to be a good program. If those people are not good, or simply do not care, then the program is bad,” Crace said.

“What can augment those programs – and even make up for the bad ones where people are less than helpful – is when we educate civilian companies and recruiters directly on what they can do outside of these programs to help veterans directly. They can also help, whether or not their employer has a formal policy or program in place.”

When I asked him a little bit more about what specific projects or initiatives he’d be working on as part of his new role with PwC, I was excited that his first priority, I know from experience, is spot on – and something too many organizations seem to forget. Crace responded that his ultimate goal at PwC was about more than outreach, but instead, increasing awareness that helping veterans transition is a true “win-win” scenario.

“On the one hand, we need to really hammer the fact that in trying to hire veterans, we also want to help open ourselves up to a truly unique, truly qualified workforce for our company,” Crace said. “Veterans want to be wanted, they want to make an impact, and they want to add value. Those traits are key for any company, which is why helping and hiring veterans is really a win for us all.”

Crace added that one of the first things he wanted to accomplish in his new role was to address the critical education gap by working directly with recruiters, hiring managers, senior leadership and the veterans themselves.

By tackling one of the biggest challenges in veteran recruiting, Crace made it obvious that he felt overcoming this large hurdle wasn’t just a possibility, but a necessity for truly creating a veteran friendly organization – and opening up the door for even more veteran hiring.

Throughout our conversation, PwC’s commitment to veterans became even more evident; this is an organization that’s literally putting its money where its mouth is, not only hiring Crace and giving him more or less an open mandate, but also announcing a $1 million grant on behalf of the PwC Charitable Foundation to the Four Block Foundation, a non-profit organization helping veterans find meaningful careers through transition support, rehabilitation services and professional development.

Though it’s consistently recognized as one of the top employers and veteran friendly organizations, PwC seems to be continually reaffirming its commitment – and investment – in veteran recruiting. With this kind of support, I’ve little doubt that Crace will be successful in his new role.

Of course, one person at one company isn’t enough to help veterans all across this great country find meaningful jobs through meaningful work – that’s a job that’s all of our jobs, really.

dean_dacostaAbout the Author: Dean Da Costa is a highly experienced and decorated recruiter, sourcer and manager with deep skills and experience in HR, project management, training & process improvement.

Dean is best known for his work in the highly specialized secured clearance and mobile arenas, where he has been a top performing recruiter and sourcer.  Dean’s keen insight and creation of innovative tools and processes for enhancing and changing staffing has established Dean as one of the top authorities in sourcing and recruiting.

Connect with Dean at LinkedIn or follow @DeanDaCosta on Twitter.

 

 

Find Candidates Market Value: CompGenome

Comp Genome is an app that searches your professional experience, education, skills, current and past job titles, and others to find candidates market value. This enables you to negotiate better with both clients and candidates to rectify any deficiencies in compensation.

They’ve got a team of data scientists that leverage techniques in machine learning, multivariate statistics, natural language processing and information retrieval to understand your profile and describe who you are and how your compensation relates to other similar professionals.

This process begins by extracting the appropriate signals from different profiles, and grouping similar profiles together. Once profiles are grouped together, CompGenome can identify niche groups of professionals who are enriched with similar attributes to those in other groups. This is how CompGenome defines what “market” is comprised of: yourself and other professionals like you with similar education, experience, skills, etc.

From this point, CompGenome is then able to accurately estimate various elements of the compensation to understand the distribution of market compensation for similar profiles with far more depth than just company, location or title.

When you create your profile with Facebook or Google they use your:

  • Work experience and education to estimate your market value.
  • Location to apply a local cost of living adjustment.
  • Email to contact you with relevant market value information.

You will have an advantage when you find candidates market value – better check that you are getting paid fairly too!

 

 

dean_dacostaAbout the Author: Dean Da Costa is a highly experienced and decorated recruiter, sourcer and manager with deep skills and experience in HR, project management, training & process improvement.

Dean is best known for his work in the highly specialized secured clearance and mobile arenas, where he has been a top performing recruiter and sourcer.  Dean’s keen insight and creation of innovative tools and processes for enhancing and changing staffing has established Dean as one of the top authorities in sourcing and recruiting. Connect with Dean at LinkedIn or follow @DeanDaCosta on Twitter.