2. About Me – Evan Herman
▶ A salesman & digital Marketer who recruits
▶ Presently a freelance consultant and blogger on all aspects of recruiting and
careers.
▶ Sold for companies such as Corporate Executive Board, Merrill Lynch, and
Morgan Stanley
▶ Recruiting since 2012 for agencies and corporations
▶ Passionate about using sports, movie, and world history references to help
frame complex concepts
3. Overview – What will we address today?
▶ Think like a salesman - Hold ourselves accountable with metrics that matter
▶ Plan like a salesman – Know how we plan to monitor ourselves
▶ Source like a salesman – Ultimately execute on our plan
▶ For Inspiration - let us head to the land of sourcing milk & honey –
Hollywood!
5. Moneyball explained –Why is it relevant
to sourcing?
▶ Moneyball: The Art of Winning an Unfair Game is a book by Michael Lewis, published
in 2003
▶ Sabermetrics - the application of statistical analysis to baseball records,
especially in order to evaluate and compare the performance of individual
players.
▶ Using new statistics, and, old statistics in new ways, the Oakland Athletics
discovered the metrics in baseball that truly mattered and were able to
compete with juggernauts like the New York Yankees and Boston Red Sox, with
1/3rd of the payroll.
▶ The lessons from Moneyball and the sporting world at large are applicable to
sourcing when trying to evaluate and measure our own performance
6. New Stats – Moneyball Vs. Sourcing
The problems encountered by Oakland A’s in Moneyball are similar to the
problems encountered by Sourcers in regards to how we measure success
The problems we see in Moneyball were that traditional stats and human
talent scouting were inefficient and inadequate measures of the true value of
professional baseball players.
Scouting talent was highly subjective and prejudicial as human beings, as we
all know, are fallible.
Additionally, traditional individual stats, were not truly individual, inasmuch
as they were largely influenced by outside factors such as other players
actions, weather, ball park, or just plain luck or randomness
The same holds true in sourcing. Many of the traditional stats are inadequate
for properly evaluating sourcers’ skills or performance; and for similar
reasons.
7. Attitude Is Everything –Source Like A
Champion!
▶ “You can’t love people in slices!” – First Knight (1995)
▶ “If you don’t love everybody, you can’t sell anybody!” – Jerry McGuire (1996)
▶ “I’m not looking for the best players , I’m looking for the right ones” – Miracle
(2004)
8. What do these quotes mean to us as sourcers?
▶ As sourcers, we can’t love sourcing in slices. We gotta take the whole pie! We are doing
ourselves, our hiring managers, and our candidates a disservice by sourcing in slices.
▶ Just because, being the salesman I am, I actually enjoy cold calling, but dislike researching,
doesn’t mean I, if I wish to be a complete sourcer, I give undo time and attention to cold
calling, while shortchanging my researching duties needed to develop a complete candidate
pool on every search.
▶ Words matter. In order properly to measure ourselves as sourcers we must first learn
properly to define ourselves as sourcers.
▶ What is a sourcer? Words matter.
▶ A sourcer is any talent acquisition professional who SPEAKS with job candidates and/or
prospective job candidates. If you do not speak with candidates, then you are not a sourcer,
you are a researcher.
▶ Finding someone to contact is not sourcing them. You source someone when you when you
entice him/her to apply to a job, and/or or entice him/her to interview for a job upon
contacting, speaking, and qualifying the person.
9. What do these quotes mean to us as sourcers?
▶ As sourcers, we can’t love sourcing in slices. We gotta take the whole pie! We are
doing ourselves, our hiring managers, and our candidates a disservice by sourcing in
slices.
▶ Just because , being the salesman I am, I actually enjoy cold calling, but dislike
researching, doesn’t mean I, if I wish to be a complete sourcer, I give undo time and
attention to cold calling, while shortchanging my researching duties needed to
develop a complete candidate pool on every search.
▶ Words matter. In order properly to measure ourselves as sourcers we must first
learn properly to define ourselves as sourcers.
▶ What is a sourcer? Words matter.
▶ A sourcer is any talent acquisition professional who SPEAKS with job candidates
and/or prospective job candidates. If you do not speak with candidates, then you
are not a sourcer, you are a researcher.
▶ Finding someone to contact is not sourcing them. You source someone when you
when you entice him/her to apply to a job, and/or or entice him/her to interview
for a job upon contacting, speaking, and qualifying the person.
10. What do these quotes mean for us as
sourcers? Cont’d
▶ As sourcers, we have to love everything about our jobs and everyone we deal
with and represent. We have to love our candidates. Even the ones who are
not qualified. Even the PITA candidates.
▶ We have to love our clients/employers. We have to love our colleagues. We
have to love our job requisitions. We have to love everything.
▶ The reason we have to love everything about sourcing is that if we, as
sourcers, are not enthusiastic about what we do, then why could our
candidates and prospects be enthusiastic about the jobs/career opportunities
we sell them?
▶ Sourcing is a sales job. If we want our candidates to love our jobs, companies,
clients, and hiring managers, then we have to genuinely love them ourselves.
11. What do these quotes mean for us as
sourcers? cont’d
▶ As sourcers, we not only should be looking for the “right” candidates as
opposed to the “best” candidates, but we should, when evaluating ourselves,
strive for right metrics, rather than the best metrics, in the traditional sense.
▶ Ultimately, we must be practical and strive to meet the objectives by which
we are measured by our employers
▶ However, that does not mean, we must use those same metrics when looking
ourselves in the mirror and evaluating whether we are satisfied with our
performance as sourcers.
▶ When evaluating ourselves. We must focus only on that which is in our
control. The only true metrics that matter are those that measure what we,
as sourcers, can control
12. Plan like a salesperson
▶ Now that we think like a salesperson, the next step is to learn to plan like
one.
▶ Stats are meaningless if we don’t actively measure them, track them, and
react to them. By react, I mean change our behavior, adjust our tactics, etc
to improve our performance and reach our targeted goals
▶ The first step to plan like a salesperson is to get journal. Not a notebook, not
a notepad, not a binder. A journal!
▶ A journal, like a diary, helps us track ourselves on a daily basis, and makes it
easy for us to go back to retrieve old notes or compare ourselves during
particular points in time. Great salesman are great rigorous note takers and
rigours activity monitors.
13. Plan like a salesperson – daily planning
▶ Now that you have a journal, you are able to easily track yourself on a daily
basis
▶ Keep it simple. It's important to try to stretch yourself, but like a diet that is
too complicated our doesn’t take natural human cravings into account, you
won’t stick with it.
▶ On a day to day basis what metrics you actually plan for are immaterial.
Every day is different.
▶ What is important however is to make sure you plan, numerically, to achieve
things every day. Every. Single. Day.
▶ Example – Use a daily 10, 10, 10 chart. The 10 things can change from day to
day, the point is, no matter what else you do that day, you plan to make sure
you do those 30 activities before the end of the day.
14. Plan like a salesperson – weekly planning
▶ Just as we must plan and monitor our daily activities, we should strive, by the
end of every week, to have very achievable and measurable activity/effort
we ourselves, as sourcers, can control.
▶ E.g. – full funnel of 50 targets to contact for each of the requisitions handed
to you last week. 10 cold calls made every day during the week (50 calls
total). Etc.
▶ Doesn’t matter, exactly what it is, as long as it measures YOUR activity and
YOUR effort, and that YOU hold yourself accountable for achievement and
improvement.
▶ Remember to keep it simple. If its 2 difficult to recover the information you
need for a weekly report of your effort then you won’t stick with it.
15. Back To Moneyball - Source Like A
Salesperson – Achieve Sourcing BLISS
▶ Now that we have the attitude of a salesperson and plan like a salesperson,
we are ready to source like a salesperson. We are ready to measure ourselves
using the Moneyball-like “metrics that matter.”
▶ What is sourcing BLISS?
▶ BLISS is a double entendre literally meaning bliss & an acronym meaning
Business Line Independent Sales Statistics.
▶ This mirrors what is seen/read in Moneyball in which they used what is called
DIPS – Defense Independent pitching statistics – to evaluate the performance
of pitchers by isolating statistics that only measured that a pitcher could
control. They used the metrics that matter.
▶ Similarly, sourcing BLISS allows sourcers to evaluate our own performance by
isolating and measuring only those statistics that are determined by our own
behavior and actions.
16. Our New Moneyball Metrics
What’s In? What’s Out?
In - BLISS Out - BS
Time to source Time to fill
Hiring manager satisfaction Cost per hire & Quality of hire
Full sourcing funnel on every search Shotgun approach on every search
Full sourcing effort tracked and
achieved on every search
Shotgun, unmonitored approach on
every search
17. Explanation of our Moneyball Metrics
Time To Source Time To Hire
The amount time after the posting of a
requisition it takes for a sourcer to obtain a
resume from the candidate who is
ultimately hired
The amount of time after the posting of a
requisition it takes a sourcer to fill a
requisition by receiving a signed offer
letter from a candidate
Sourcer has reasonable control over
outcome
Outcome mostly determined by factors
outside sourcer control
Relevant to evaluating sourcer ability and
performance
Not relevant to evaluating sourcer ability
and performance. Especially when
comparing one sourcer to another.
18. Explanation of Moneyball Metrics
Hiring Manager Satisfaction Cost Per Hire (CPH) & Quality of Hire
A yes or no answer from the hiring manager when asked
if they are satisfied or dissatisfied with the service and
effort you displayed in filing or attempting the
requisition
SHRM Def. - The costs of the sourcing, recruiting and
staffing activities borne by an employer to fill an open
position in the organization. CPH is a ratio of the total
dollars expended (in both external and internal costs)
to the total number of hires in a specified time period.
Quality of hire has numerous pre-hire and post hire
definitions and numerous ways to be calculated. All are
very subjective and reliant on factors outside the
sourcers’ control. Check out Lou Adler for more info
pre-hire recruitment metrics.
Simple, easy to calculate, objective, not outcome
dependent. No halo or horn effect.
Complex, not easy to calculate, highly subjective,
highly outcome dependent. Halo or horn effect results.
19. Explanation of Moneyball Metrics
Full Sourcing Funnel On Every Search Shotgun Approach On Every Search
Having a fully researched, systematic,
strategically contacted spreadsheet or
database of targeted people to contact
as prospective matches or assets for
every open requisition
An ad hoc, interview/hire as you go
approach. It is not systematic at all. It
does not track or measure activity. It is
simply a prospect, interview, hire as you
go, 1 at-a-time approach.
Measurable. Able to monitor activity and
effort of sourcer and evaluate sourcer
based on things he/she controls
No measurements of any activity or
efforts. Nothing is monitored or tracked
at all except number of hires
Synergies and efficiencies with
concurrent and future searches.
Relies on memory and reinventing the
wheel on other searches.
20. Execution - Tactics to becoming a
Moneyball Sourcer
▶ Our sourcer, gets notice from the Talent Acquisition Director that he has a
new approved requisition
▶ The sourcers first act is set-up an intake call with the hiring manager to learn
about the hiring managers needs and to help him/her put together a a great
“job achievement” description as described by Evan Herman on
Sourceccon.com blog post. He knows this will make sure he gets the best
possible quantity and quality of inbound leads of active candidates monitoring
the job boards and his employer’s career website.
▶ He then proceeds to begin his sourcing efforts by opening up his standard
recruiting funnel excel spreadsheet which looks something like this….
21. Execution - Tactics to becoming a
Moneyball Sourcer
▶ Let us observe the journey of a Moneyball Sourcer
▶ Armed with his new mentality of a salesman, his journal, his phone, his
computer, and his new BLISS – “metrics that matter” statistics, he is ready to
fill, or attempt to fill the requisition in a way that satisfies both himself and
his hiring manager.
▶ At the end of the day, it’s the satisfaction not the statistics that matter.
22. Execution - Tactics to becoming a
Moneyball Sourcer
Name Employer Phone Email Linkedin Indeed Location Activity
▶ He proceeds to systematically find and add at least 50 people to the list. He
then systematically reaches out to all 50 and tracks his contact activity in
activity section.
▶ As he does this, he has his trusty journal by his side to take detailed notes
and to plan his days, and activities. He decides that as the is is a new and
very important search he is going to devote all of his free time tomorrow to
filling up this spread sheet and contacting the candidates
23. 10 Cold Calls 10 New Names 10 follow-up calls
IIIII IIIII IIIII IIIII IIIII IIIII
Execution - Tactics to becoming a
Moneyball Sourcer
▶ He decided in the morning to determine his daily 10, 10, 10 activity chart to hold
himself accountable, as he does every day, to make sure no matter what happens
he accomplishes 30 basic, easy activities.
▶ Today he decides his 10, 10, 10 chart. He likes to have 10 cold calls marked every
day to force himself to get on the phone as he previously did not source like a
salesman and was reluctant to get on the phone. He also has set a goal of 10 New
Names from Boolean searching or 10 follow-up calls to people whom are owed a call
back.
24. ▶ He starts his cold calls and manages to reach a couple of candidates and to
profile them on behalf of his hiring manager.
▶ He uses his standard profiling format so that he knows no matter what he will
get the profiling and qualifying information his hiring manager needs for every
candidate submitted by you.
▶ It may look something like this….
Execution - Tactics to becoming a
Moneyball Sourcer
25. ▶ Candidate Name – Candidate for Finance Manager
▶ Degree year , Degree type, school name & location
▶ Present /Most recent Job title & Employer
▶ Brief Description of Job
▶ Active/passive? – Why looking? Why open to new job?
▶ Description of candidate's communication skills, personality, etc.
▶ Success Story- His greatest achievement relevant to what he told the
candidate the Finance Manager would be achieving.
▶ Present/Most recent salary, bonus, and other details relevant to
compensation expectations
▶ Job Move Explanations - 1 sentence description of all job moves
Execution - Tactics to becoming a
Moneyball Sourcer
26. ▶ It's Friday and our sourcer is getting ready to head home for a much deserved
weekend break from work.
▶ The last thing he does is to check his journal and spreadsheets to make sure
he accomplished his weekly goals and activity level targets.
▶ He puts together a quick chart in an email to himself that automatically goes
to a folder labelled “weekly activity”
▶ He repeats over several weeks and one day decides to look back on his
progress
▶ He discovers that since he started thinking like a salesman, planning like
salesman, and executing his plan like a goal orientated salesman he now has
achieved the following….
Execution - Tactics to becoming a
Moneyball Sourcer
27. ▶ He has made at least 10 cold calls every single day and notices how much
more confident and comfortable he is when speaking with candidates.
▶ This has resulted in him getting more referrals from prospects rather than
relying almost entirely on research and Boolean searching like he had in the
past. He realizes he is now working much smarter not harder.
▶ The new, more organized, more motivated, and efficient sourcer notices that
results of all these efforts and changes have shown up in the real “metrics
that matter”
▶ His time to source is only 5 business days. His hiring manager satisfaction is
100%. Mostly due to him having a full sourcing funnel on every search and
then making sure he connects with and get’s an informed yes/no answer from
every prospect in the funnel
Execution - Tactics to becoming a
Moneyball Sourcer
28. Conclusion
He’s so money & he didn’t even know it,
until now!
He’s a Moneyball Sourcer who uses Metrics
That Matter
