March 9, 2021
Have you ever considered how much time and effort goes into making one hire? Or how many emails you need to send in order to have a strong, qualified candidate pool? Knowing what to anticipate in terms of workload before you start your search will help you manage your time and resources. But how do you go about determining these metrics?
Using historical data from thousands of searches, Fetcher has built a tool to do just this! Fetcher’s Funnel Forecasting Calculator will give you the information needed to make the greatest impact with your recruiting.
How does it work?
Fetcher’s Funnel Forecasting Calculator is easy to use. Just follow the steps…
Step 1: Determine how many hires you plan to make this year.
Step 2: Select which type(s) of open roles are currently active.
Step 3: Select where you are hiring.
Step 4: Indicate how many interested candidates you’d like to receive per search.
NOTE: average # of interested candidates, across all recruiting channels, needed for one hire: 8-10.
Using Fetcher’s historical data, the Funnel Forecasting Calculator will estimate the number of prospects you need to source & email for your desired interested candidate response rate. You can then use this information to benchmark your outreach results against industry standards, as well as determine the resources you need for upcoming searches.
For instance, say you email 20 prospects for an engineering position in San Francisco. According to Fetcher’s extensive data, you should receive roughly 3 responses. If you aren’t getting any responses, you should review your job description, salary range, and/or benefits, as these could be causing your response rates to fall below average.
Want to know more? Check out the following examples…
Example 1: Engineering Hires in San Francisco
You’re the CTO at an early-stage startup that’s growing rapidly. Your VP of Engineering is spread thin and needs support. You turn to Fetcher’s Forecasting Calculator to determine how much time you’ll need to set-aside for recruiting more engineers.
**REMINDER: Most companies make a hire after sourcing 10 interested candidates for each search. Interested candidates can come from a mix of sourcing, inbound, referrals, etc.
Need to hire quickly?
Sending 293 initial emails manually will take you almost 20 hours! To speed up your time to hire, you’ll need to spend less time emailing. To accomplish this, try expanding your filters. For instance, can this role be remote? Opening up this role to remote candidates reduces your required outreach by roughly 21%. Alternatively, use Fetcher to automate your initial and follow-up outreach, allowing you to create automated email sequences. Cut those manual hours to just 2 hours instead of 20 hours.
Example 2: SaaS Product & Go-to-Market Hires
You’re the Director of Talent at a large SaaS company based out of Austin, TX. You have several product launches in the coming months and know certain teams will need extra support. You decide to check out Fetcher’s Funnel Forecasting Calculator to determine how many recruiters you need to assign to this initiative.
Need to hire quickly?
Sending 1,350 outreach emails manually will take your recruiting team at least 90 hours. Using Fetcher, sending and following up on this many emails would only take 9 hours! Interviewing 60 qualified candidates is extremely time consuming for the team. Consider opening up the search to other U.S. cities to increase your chances of finding the best talent faster and reduce the number of candidates you need to interview for each role. Not only will you save time, but you’ll also spend less in terms of salary when hiring employees from cities with lower costs of living.
Example 3: Remote Executive Assistant Hire
You’re the Executive Director of a nonprofit that needs to bring on an Executive Assistant to help run the office and handle scheduling. As a first step, you want to gauge how much outreach you’ll need to do before you make a hire.
Need to hire quickly?
Sending 75 outreach emails manually will take you 5 hours. Since you’re open to hiring anywhere, you’ve already expedited your hiring process. If you want to send less outreach, try targeting 6 interested candidates per search rather than 7. Needing one fewer candidate results in 15% less outreach.
Even if you are looking to just hire 1 new employee, you need to spend hours sending dozens of outreach emails. You also need to scour the internet looking for qualified candidates, along with their personal email addresses for outreach. On average, recruiters spend up to 13-hrs a week sourcing for just one role. With Fetcher, we’ll manage the sourcing for you. Just review and automate outreach from there. This means you can send over 150 emails in just an hour (manually this would take over 10 hours). Fetcher also finds prospect’s personal email addresses for you. And the benefits don’t stop there. Fetcher allows you to…
With Fetcher, you can make a big impact no matter the size of your team. Use the Funnel Forecasting Calculator to map out your hiring timeline and work more efficiently. With more time, you’ll be able to focus on candidate engagement and strategy. Already a Fetcher customer? If you notice your response or interest rates aren’t meeting our Calculator’s predictions, let your Account Manager know and we’ll give you tips & tricks on how to improve your full-funnel stats. Whether it’s improving your emails’ subject lines or adding benefits information to email copy, we’re here to help. No matter what your goals are, Fetcher arms you with the support & data to recruit intelligently.
At Fetcher, our mission is to introduce companies to the people who will help them change the world. Our full-service, recruting automation platform automates those repetitive, top-of-funnel tasks, so you can focus more on candidate engagement & team collaboration. Simplify Sourcing. Optimize Outreach. Hire Top Talent. Learn more at fetcher.ai.