In the latest Sourcing Benchmark, a remarkable pattern stands out, as observed by Cooble specialists who track sourcing trends quarterly. On one hand, there’s a decrease in the proportion of candidates presented to the client after a call appointment, seemingly leading to more productive conversations or, at the very least, a faster process. Moreover, not only are an increasing number of referred candidates being invited for a second interview, but an unprecedented 60% of them are also receiving job offers right after that second interview.
Milou Verhoeks, the co-owner of Cooble along with Jan Karel Sindorff, notes that the 60.3% figure is the highest percentage recorded since they began compiling benchmarks. Verhoeks highlights a significant increase in this percentage, indicating a notable trend. They are observing a growing pattern where, following a positive initial interview, candidates are increasingly anticipating a job offer during the second interview. Additionally, Verhoeks points out that one-third of candidates who did not receive an offer opted to withdraw from the process, while two-thirds were formally rejected.
Busy December
According to Milou Verhoeks, the figures for the final quarter of the previous year primarily reflect the bustling month of December. Consequently, numerous interviews were scheduled for January. She anticipates a similar decline in the number of candidates attending their first interview in the last quarter of 2023, akin to the pattern observed in 2022. Out of the candidates proposed, only 40% were eventually invited for an initial interview. Verhoeks suggests that this percentage is relatively low, and she points out various potential causes such as some vacancies being put on hold, the presence of more qualified candidates in the process, or candidates not meeting the requirements adequately.
Short lines ensure that you introduce the right candidates to the vacancy holder.’
Milou Verhoeks
In Milou Verhoeks’ perspective, the 40% figure for candidates invited for an initial interview is closely tied to effective communication with the vacancy holder. She emphasizes that clear communication ensures accurate candidate proposals, and being aware in a timely manner when a vacancy becomes inactive is crucial for a sourcer. Moving on to the next stage, the latest data reveals that almost half of the candidates (47%) who had an initial interview are now invited for a second interview. Verhoeks highlights a significant increase from the previous quarter, which recorded just over 40%. Notably, among those who did not proceed to a second interview, 40% withdrew voluntarily, while 60% were rejected by the client.
More in the talent pool
As a broad observation, Cooble identifies a decline in the number of candidates being recommended after a phone appointment. This suggests not only a decrease in the total number of conversations but also a tendency for these conversations to yield more impactful results. Specifically, in the last quarter, Cooble presented less than 50% of the individuals spoken to (48.5%) to their clients for the initial round. When candidates do not progress, approximately two-thirds are rejected due to insufficient alignment with vacancy requirements. On the other hand, a third of candidates withdraw from the process after obtaining additional information about the job and the organization.
The number of candidates we propose as a result of a telephone appointment is decreasing.
Notably, a significant 17.9% of candidates are included in a talent pool following an introduction. Milou Verhoeks explains that these individuals might not be immediately ready for a job change but could become valuable talent in the (medium) long term. The benchmark data is derived from the efforts of 43 sourcers working for 65 organizations and addressing 316 vacancies. In the last quarter of 2023 alone, Cooble sent out over 16,000 messages, resulting in more than 7,700 responses.
Sourcing pressure is increasing
Sourcing pressure is increasing, notes Verhoeks, as many potential candidates are being actively approached. For instance in The Netherlands, overall response rate of 46% in the last quarter surpasses the 44.3% recorded in Q3 2023. Verhoeks acknowledges the challenges of the fourth quarter, with lower response rates during the holidays, but sending a third reminder proved helpful. Maintaining a personal touch is emphasized to avoid appearing overly pushy.
In the tight labor market, Verhoeks emphasizes the need for quick action when candidates show interest. Delays in scheduling or finding suitable times can lead to a loss of interest. Furthermore, she highlights the growing importance of talent pools, noting that even if a candidate isn’t an immediate match, they could be valuable in the future. Cooble has observed faster vacancy fills at some clients by strategically building and leveraging talent pools.
