Since I’ll be attending a conference in Las Vegas later this week, I thought it might be a good time to talk about recruiting odds.
A couple of years ago Jobvite published a recruiting benchmark report that synopsized the employment behaviors of more than 50 million jobseekers. Here is some of what was discovered:
For a paid job ad, it takes about 18 clicks (someone reading your ad) to get one application.
If you have a career site, website visitors will typically need to visit/interact with 6 pages before completing an application.
You’ll need to capture about 8 applications in order to schedule one interview.
It will take about 4 interviews to get one hire.
The overall top-to-bottom conversion (any contact on the “top” to a hire on the “bottom”) is 0.56% (178 contacts to 1 hire).
The average time to hire is 38 days.
While this data was collected across all industries, there are some insights that do apply to real estate hiring.
Attracting the attention of prospects can be complex and expensive. There are many companies competing for the attention of talented individuals in all industries.
Applications/Inquiries are valuable. If someone figuratively “raises their hand” and wants to talk to you about working in real estate, focus quickly on this opportunity.
Continue to be selective in the interview. The interview to hire percentage is remarkably stable for hiring managers who are selective. If you want more hires, do more interviews.
Build a pipeline. Hiring takes time. You must work today to get something tomorrow.
Successful hiring managers don’t try to beat the odds. They understand the odds and play enough to win in spite of them.
