Data Tells the Story - Tech Recruiting Firms are Essential
Do you have 14 hours a day to spend filling seven tech jobs in 31 days? The data shows that's what it takes. Bottom line: this ain't easy!
Data Tells a Story - Recruiting Firms Are More Crucial Than Ever
Did you know the majority of tech jobs in 2024 had been open for almost 5 months before they were filled? 2024 has been a tough run for the job seeker AND the hiring source alike.
Averity has internal and external data that supports most jobs posted online received in excess of 1,000 resumes! An example (screenshot below) received 64 applications in 52 minutes! Now with Artificial Intelligence services writing resumes specific to the job description, how is any job seeker or hiring manager supposed to take a job posting or applicant seriously anymore?
The job market is a different game than anything I can remember in over 25 years of technology recruiting. That’s the dot-com bubble, the financial collapse, a pandemic, and whatever we want to call this 2023-2024 drought. I fear searching for a job on your own may never be the same.
The obvious questions:
Why bother applying?
Why bother running an ad?
How do have the human capacity to manage this search intelligently and unbiased?
Here are data sets on 7 jobs Averity filled in August:
What does this data really tell us?
Averity doesn’t post all our jobs, we didn’t need to advertise the Risk/Security contract or the Front End lead roles as we have a stellar network that was simple enough to reach out to (5 interviews, 3 offers, 3 acceptances, fewer than 30 days) If we remove those two from the data set we’re looking at 542 possible people per job on average.
Despite the insanity, Averity still managed to need only 4 first-round interviews per job to achieve an 89% offer acceptance rate in just 34 days!
How?
Highly specialized teams at Averity are dedicated to their niche.
Insane time management and dedication to the task at hand.
Data Point: Time Management and Time Spent
If you’re wondering how much time it takes and the actual tasks to fill 7 roles, the below data sets are the average for these 7 jobs:
Breaking down some of this data:
To fill all 7 of these jobs in 34 days working 2 hours a day on each job requires 14 hours a day.
46% of your 14 hour day is just reviewing resumes. That’s 6.44 hours a day reading resumes
Specific Example:
Lets take the Python/GO Engineering role for an AdTech company in NYC. With over 650 resumes to review between our network and ad responses, the actual time in minutes and hours looks like this:
What does this data tell us?
94 hours of work to fill this job in 26 days
To narrow this to 5 of the best people to interview took:
4,805 Minutes
80 Hours
Working 8 hours a day on this job ALONE would take 10 days to get to the interview stage
Ready for some more data?
Averity has an active Security Engineering role open that has over 8,400 views with over 1,800 applications receiving on average 187 applications per day.
What’s scary about all this?
These are real numbers
The numbers tell a story:
Could you go on a safari without a guide? Absolutely! Can you replace your central HVAC unit at home on your own watching a YouTube video? You bet you can!
Cost:
Lets say a VP Engineering/CTO level makes roughly $350k/year (this all depends, I get it)
Taking 4 weeks of vacations annually that leave 48 weeks on the job
48 weeks at 40/hours a week = 1,920 hours worked
1,920 hours worked/$350,000 = $182.29 per hour
Spend (*using the time spent averages above):
$182.29 per hour * 70 hours (per job) = $12,760.42
$12,760.42 * 7 jobs = $89,322.92
What do these numbers really mean?
You’re spending $89,322.92 out of your personal salary and total compensation to do this on your own and it will take 490 hours. What SHOULD you be doing with these 490 hours?
All this data proves that a strong human-centric recruiting partner is essential to the success of hiring and the job search. Why try to go on this safari alone? Averity is here to help. We are hired to bring the “A” player to the market doing all the heavy lifting.
People hire people. Looking for the best opportunity and hiring the right person is more than an application and a resume. The hiring and interviewing process can be time-consuming and tolling, which requires a trusted source to aid in communication, screening, scheduling, and feedback.
Talk to you soon!