You might remember tales of the Mary Celeste and how its voyage from New York ended with it sailing undisturbed, intact and without any sign of life.
But, how many know of the missing candidates, opportunities and placements that disappear each year from recruitment CRMs?
- The silver medal candidates that go unplaced?
- The calls, contacts and relationships that go cold after a consultant leaves?
- The candidates that fall through the recruitment process and aren’t recycled?
- The active candidates that stay hidden in the depths of your CRM?
- The candidates, clients and opportunities that disappear because they’re not prioritised?
- The candidate you lose through the backdoor because you didn’t know you were engaging with them?
Most agencies won’t know the answer because they don’t have the information in front of them.
With such a high turnover of staff in the recruitment industry, it’s “arguable” that your data is perhaps even more valuable than your people.
Your data is a permanent fixture.
We talk a lot about logging activity to drive personal performance, but it’s an absolute necessity for companies to safeguard their revenue and relationships.
Recording your activity provides the footnotes for someone to inherit an account and continue to move it forward.
How much candidate information and activity in the pipeline leave with the consultants that churn?
Consider the silos behind your biggest accounts and the top billers that work them.
It’s not uncommon for groups of consultants to collectively leave an agency with the intention of starting their own.
A hit on revenue from a top biller leaving can quickly become a fight for survival if you don’t have an exit process in place.
Not having visibility on your consultant’s activity means you don’t have control of the relationships they’re nurturing.
It means you’re sharing ownership of your revenue with a constant flight risk and that your company is dependant on the moves of your biggest billers.
Invest in your technology, make a commitment to your data and uncover the revenue that disappears each year with bad data.