How does the recruiting process change as companies grow?
As you scale your small or midsize company, perhaps you haven’t yet considered how your recruiting strategy stacks up to the competition. But without insight into how other teams are performing, how can you know that your sourcing and interview tactics are truly top-notch?
In 2016, the team at Lever analyzed one year’s worth of data from over four million candidate considerations across 1,000 companies. Among many other key observations, they found that referrals only make up 16 percent of hires, while applicants represent half. Yet 1 in every 16 referred candidates make it to hired, making them almost ten times more efficient than candidates who apply.
Armed with fresh benchmarks like these, recruiters on teams ranging from 100 to 5000 can both refocus their efforts and streamline the processes that are already working. As in any discipline, when you know where you’re beating the average and where you’re trailing behind, you have the information you need to level up.