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Permalink Reply by Jim - medXcentral on May 19, 2008 at 5:44pm

Wow... no replies yet? I thought this would be a stimulating topic. Anyone?

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Permalink Reply by Jim - medXcentral on May 20, 2008 at 12:38am

Hmmm... now that I fixed the title of my post, maybe I can get a few hundred replies to this? Yes, I'm optimistic. This is an important topic for me. Thanks in advance. - Jim

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Permalink Reply by Mike Wafer on May 20, 2008 at 7:14am

Jim,

I too am amazed by the lack of replies. I am with StaffingForce and it is very easy to go through my data base and the data base contained within StaffingForce. When I did not have the search functions I do now I did not go back to my data base much. Now I see the value in returning to the great contacts in the data base.

I also have my realtor license in the Sacramento, CA area. I have found that if I keep in contact with the top 100 client who feed me referrals the well does not run dry. I make calls every day to at least 3 on the 100 list. I also send them a monthly news letter and I have a monthly drip campaign to them and the other 500 or so contacts just to stay in front of them on a monthly basis.

I have started doing the same for the contacts in my staffing data base as well. I have found that they feed me leads on people who are looking for positions and hiring officials who are looking for people.

I guess, I am saying if you have a big database keeping in touch with your top clients will result in referrals and then placements. This is a sales job and the number one thing to remember in sales is, it’s a numbers game. After that it is personal contacts and referrals. I have learned that the easier things are for me the better I stay engaged.

My 2 cents.

Mike

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Permalink Reply by Jim - medXcentral on May 20, 2008 at 7:44am

Thanks, Mike. Technology does make it easier to increase the conversion ratio. Quality ATS' help.... and there are some great conversations on RB regarding software.

But, what is the real number, from your perspective, of the conversion ratio? Leads to placement.... listed as a percentage. Care to throw another penny in the "kitty"?

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Permalink Reply by Mike Wafer on May 20, 2008 at 8:12am

Jim,

I have been received just under 200 leads fron advertising. I have had more than one email exchange with about 60 to 70 resulting in 35 to 40 telephone calls. Of those calls, I have sent 22 eletronic links to be placed and of those 15 have come aboard.

What percentage re you looking for. The conversion rate with personal contacts is not bad, but it does take a little work to get there.

I tell my friends that I hear, "NO" more times now than I did in college at parties trying to get a "date".

one more cent

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Permalink Reply by pam claughton on May 20, 2008 at 8:14am

Jim,
I'm guessing that you don't have much of a discussion on this question because the way it's phrased, it seems like you might have a service you are trying to promote, something like a staffingforce maybe? That's what it seems like you're getting at, offering a way to do something with candidates that we don't place? To answer your question, I have no clue on my ratios, I always mean to track them, but am too busy to do it. I do keep a great database though, and it's the first place I go for any search, and usually results either in immediate candidates, or referrals to candidates.

Pam

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Permalink Reply by Jim - medXcentral on May 20, 2008 at 11:04am

Pam... you're spot on with respect to me and the intent of my question. I do have something to promote (though not necessarily here at RecruitingBlogs) .... similar to StaffingForce in some ways... but different in many. Similarly, it is based upon unused candidates.

I'm not sure how to rephrase the question. I tried not to be solicitous (not an easy task for a salesman speaking to salespeople... LOL). I do truly seek the opinion of the group.

In general terms, agencies often tell me that they are converting less than 5% of all leads they touch. Some less. Some more.... depending on their marketing efforts.

From my personal experience, I would say it is less than 5%. The agencies I worked for invested large amounts of money bringing in new candidates, kept great databases and pushed the recruiters to mine through them. However, the reality was that we were so busy with new candidates it was difficult to spend time mining our local database, leaving a tremendous amount of "waste". I was a travel nurse recruiter which I understand is different in many ways. And, healthcare is incredibly "hot" these days.

I'm trying to gain a broader perspective by leveraging the collective minds here on RecruitingBlogs. That is why I've started the discussion.

Pam, thanks for your honesty. I appreciate that you are "too busy" and "have no clue" on your exact ratios. I did not track hard numbers either. Who has the time? But, even deploying the exact science of guesstimating... I believe the conversion number will be low when the votes/opinions are counted. I know that is obvious... but, exactly how low is not. I'm counting on the honesty of the group to help define the reality in our industry. I know it's not a comfortable statistic to look at.

I'd appreciate any feedback regarding how to rephrase the question so as to stimulate the discussion.

Kindly,
Jim - medXcentral

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Permalink Reply by Jim - medXcentral on May 20, 2008 at 11:21am

Mike.. thanks for taking time to clarify. Please see my reply to Pam below as it will help clarify my intent.

To answer your question; "What percentage are you looking for?", I'd answer as follows:

Say you average 100 open reqs to be filled and your combined marketing efforts generate 1000 new replies (total per month) inquiring about your open positions. Any new reply of any kind must be counted. All inquiries are the equivalent of foot traffic to a retail store. You "paid" to get their attention. The primary question is; What percentage get converted to placements? The Secondary question is; What happens to them when you don't place them?

Thanks again for participating in this discussion.

- Jim

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