Let\u2019s explore an example: Assume that you\u2019re tasked with an increase in revenue for the upcoming year utilising the current team and keeping headcount flat. As a result, you need to find ways to get more utility (or output) from your team. How do they spend their time? What performance activities will lead to a lift in results? Which clients or job orders should they prioritise?<\/p>\n
The Answers Are in Your Data<\/strong><\/h2>\nThe answers are in your Bullhorn data if you know how to harness it. Using historical information we can determine the number of placements required to get there. Specifically, you can assess your average placement value so you know how many placements you\u2019d need to hit the plan. But how far back should you look? In my experience it depends on what has happened in your business. If there has been a significant change in your process, verticals, niche market, etc in the past 2 years, a longer look back won\u2019t necessarily yield helpful data points as say a nine month look would. Conversely, if you\u2019ve been fortunate enough to have a consistent go-to-market strategy more historical data would be really insightful. There\u2019s no set standard here, it must be tailored to your business and a minimum 6 month range is recommended.<\/p>\n
Using Data to Create Conversions<\/strong><\/h3>\n <\/p>\n
Once we understand the number of placements required to hit the growth target, it\u2019s a further matter of determining the your typical conversion rates through the placement funnel\u2014specifically the volume of interviews, submissions, and job orders that are required to get a placement. An exponential increase in job orders created won\u2019t guarantee a direct correlation to more placements won. One must consider conversion rates along each stage of the process and the capacity of the existing team. Are there areas in your process where you can affect conversion rates? Examining ratios from one stage of your process to another can help to identify those points where opportunities drop off. Similarly, chasing larger deals won\u2019t necessarily lead to success, especially if you typically fail to land those larger value placements. Not all jobs are created equal.<\/p>\n
Using Data to Ramp New Hires<\/strong><\/h3>\n <\/p>\n
Now that we\u2019ve mapped out the required placements, and the process that follows in order to land them, you can ensure that the reps are doing the right activities against the right jobs. But do you have have enough headcount to execute? If not, you\u2019ll need to plan to hire, but that comes with its own challenges.<\/p>\n
Hiring more reps doesn\u2019t always mean they will be producing at full capacity day 1 (we wouldn\u2019t expect a new hire to perform at the same level as a seasoned veteran). So how do you know if a rep is performing at his\/her best while ramping? Simple – use the benchmarks of your top performers when they were ramping to set expectations for your new hire goals. That provides you with more than a great blueprint for ramp, it provides social proof. You\u2019re establishing goals and expectations based on what their peers have done, while raising the level of play by modeling your top performers.<\/p>\n
Leaders can only expect so much out of a team. Coaching plans, goals, and quotas have to be realistic, attainable, and based on credible numbers not just gut instinct. By establishing goals for your team based on the past performance of their peers, you ensure just that. By aligning the company\u2019s goals to those of the individual contributors, you can secure success for all.<\/p>\n
About Insight Squared<\/strong><\/h2>\nInsightSquared<\/a> is a recruitment analytics solution that delivers flexible, pre-built reports on every major recruiting metric. Unlike spreadsheets, InsightSquared\u2019s visual, maintenance-free reports and dashboards update automatically with your Bullhorn data, can be shown on the big screen to drive competition, and are easily customised to your team\u2019s specific needs.<\/p>\n![\"Bullhorn](\"https:\/\/www.bullhorn.com\/wp-content\/uploads\/sites\/3\/2019\/10\/Customerblog-footer-V1.png\")
<\/a>\n","protected":false},"excerpt":{"rendered":"How will your revenue goals be achieved? The answers are in your Bullhorn data if you know how to harness it.<\/p>\n","protected":false},"author":271,"featured_media":17904,"parent":0,"menu_order":0,"template":"","class_list":["post-17903","customer_blog","type-customer_blog","status-publish","has-post-thumbnail","hentry","customer_blog_category-learning"],"acf":[],"yoast_head":"\n
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<\/p>\n
Once we understand the number of placements required to hit the growth target, it\u2019s a further matter of determining the your typical conversion rates through the placement funnel\u2014specifically the volume of interviews, submissions, and job orders that are required to get a placement. An exponential increase in job orders created won\u2019t guarantee a direct correlation to more placements won. One must consider conversion rates along each stage of the process and the capacity of the existing team. Are there areas in your process where you can affect conversion rates? Examining ratios from one stage of your process to another can help to identify those points where opportunities drop off. Similarly, chasing larger deals won\u2019t necessarily lead to success, especially if you typically fail to land those larger value placements. Not all jobs are created equal.<\/p>\n
Using Data to Ramp New Hires<\/strong><\/h3>\n <\/p>\n
Now that we\u2019ve mapped out the required placements, and the process that follows in order to land them, you can ensure that the reps are doing the right activities against the right jobs. But do you have have enough headcount to execute? If not, you\u2019ll need to plan to hire, but that comes with its own challenges.<\/p>\n
Hiring more reps doesn\u2019t always mean they will be producing at full capacity day 1 (we wouldn\u2019t expect a new hire to perform at the same level as a seasoned veteran). So how do you know if a rep is performing at his\/her best while ramping? Simple – use the benchmarks of your top performers when they were ramping to set expectations for your new hire goals. That provides you with more than a great blueprint for ramp, it provides social proof. You\u2019re establishing goals and expectations based on what their peers have done, while raising the level of play by modeling your top performers.<\/p>\n
Leaders can only expect so much out of a team. Coaching plans, goals, and quotas have to be realistic, attainable, and based on credible numbers not just gut instinct. By establishing goals for your team based on the past performance of their peers, you ensure just that. By aligning the company\u2019s goals to those of the individual contributors, you can secure success for all.<\/p>\n
About Insight Squared<\/strong><\/h2>\nInsightSquared<\/a> is a recruitment analytics solution that delivers flexible, pre-built reports on every major recruiting metric. Unlike spreadsheets, InsightSquared\u2019s visual, maintenance-free reports and dashboards update automatically with your Bullhorn data, can be shown on the big screen to drive competition, and are easily customised to your team\u2019s specific needs.<\/p>\n<\/a>\n","protected":false},"excerpt":{"rendered":"How will your revenue goals be achieved? The answers are in your Bullhorn data if you know how to harness it.<\/p>\n","protected":false},"author":271,"featured_media":17904,"parent":0,"menu_order":0,"template":"","class_list":["post-17903","customer_blog","type-customer_blog","status-publish","has-post-thumbnail","hentry","customer_blog_category-learning"],"acf":[],"yoast_head":"\n
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InsightSquared<\/a> is a recruitment analytics solution that delivers flexible, pre-built reports on every major recruiting metric. Unlike spreadsheets, InsightSquared\u2019s visual, maintenance-free reports and dashboards update automatically with your Bullhorn data, can be shown on the big screen to drive competition, and are easily customised to your team\u2019s specific needs.<\/p>\n How will your revenue goals be achieved? The answers are in your Bullhorn data if you know how to harness it.<\/p>\n","protected":false},"author":271,"featured_media":17904,"parent":0,"menu_order":0,"template":"","class_list":["post-17903","customer_blog","type-customer_blog","status-publish","has-post-thumbnail","hentry","customer_blog_category-learning"],"acf":[],"yoast_head":"\n<\/a>\n","protected":false},"excerpt":{"rendered":"