The Recruiting Numbers Game – Part 1: How Many Candidates to Interview
How many people do you have to interview to find the right student hire – 5, 50, 500? A wide range of factors affect whether someone will be the right fit for a position at your company. Do they have the technical skills, do they work well with a team, are they a good culture fit? Making a hire is not an exact science, but as detailed in this blog post from SmartRecruiters, Marketo’s Director of Staffing Carl Sweet is turning it into one.
Based on data from past hires at Marketo, Sweet’s hypothesis says that an 80:8:1 ratio of candidates to interviews to hires is the way to go. By hovering around these numbers, Sweet believes he’s found the optimum mix of sourcing enough candidates to find the right match without wasting too much of his recruiters time on dead-end interviews.
The ratio varies depending on the type of hire being made. A finance position might require a 120:15:1 ratio whereas finding the right engineer might require just 20:5:1. In the end, it seems like these recruiting formulas share a unified message: be thorough but efficient. Source enough candidates from the right places, evaluate the top 10%, and move fast on the right ones.