Our client hits 70% Interview-to-offer ratio vs. 17% industry average
May 20, 2020
From the time we launched our initial Beta for TechScreen in June of 2015, we were confident that were introducing an unparalleled tool that empowers IT recruiters to perform a meaningful screen on the front end of the hiring process. We just had a pilot customer put up results that surpassed expectations.
Our client is a 30 year-old software firm that offers mid- and back-office software systems for buy-side investment firms, which collectively have $25 Trillion under management. This client has an extremely high quality bar and employs a model that has them cultivate and develop younger talent. This lets them build their own feeder system, but it also presents more work to qualify talent up front.
Screening candidates with entry level backgrounds make it difficult to distinguish a poor candidate from an average or superior one. They will list their GPA and a series of school projects, so there is not a lot of substantive content to filter to stack rank someone based on the resume alone. This means that the Engineering staff has had to read an inordinate amount of resumes and do a crushing number of phone screens, getting an extremely poor yield on their time.
One of the members of the Engineering team helped them select questions for a Custom Interview from the TechScreen library, giving candidates a firm but fair test. Recruiters used TechScreen to interview 155 candidates, and there were 40 of them selected for phone screens by Engineering. They made offers to 28 of those candidates for a success ratio of 70%.
Jobvite is the second biggest ATS vendor in the US and they did a major study on the ratios involved in the hiring process. The study looked at candidates making 10 million job applications in the combined populations of their customer databases. The statistic that stood out most to us was that those applicants saw a 17% Interview-to-Offer ratio.
This tells us one thing: A recruiter empowered to screen IT candidates on the first phone call can be a reliable surrogate for an Engineering lead or manager, This works both ways: A focused screen can reject someone with a solid resume or rescue someone with a sub-par resume. Assumptions made in a vacuum based on static content short change skilled talent and undermine the integrity of the process.
The recruiter will never replace a manager making a hiring decision, but they can definitely help identify candidates worth further consideration in the hiring process. This is where TechScreen steps into the vacuum by producing an Interview-to-Offer ratio more than 4 times the average the rest of the world has experienced.
Aline Lerner is a well-read blogger in the IT recruiting space who began her career as an MIT-trained software engineer. She saw value in doing a probing technical screen as an engineer and began her own IT staffing firm. She wrote about problems in the hiring process in this blog post and offered this as part of the solution:
“Find a cheap and fast way to evaluate people that doesn’t take much more effort than reading a resume but tries to get at whether someone is actually good rather than relying on proxies.”
Someone was listening and now recruiters have exactly what Lerner just described.