The Two Metrics that Matter Most: First Time Interviews and Candidate Conversations

When the Golden State Warriors were in the middle of winning multiple championships, their coach, Steve Kerr, focused on just two key statistics, rebounds and fouls. He felt these were the two best indicators of his team’s success. Was his team working hard to rebound and were they playing disciplined defense without fouling? Two factors he could directly control, told him everything he needed to know about his team’s potential for success. The team that won multiple championships and changed the geometry of modern basketball, did it all by paying attention to just two key statistics.

Cool story…. what does this have to do with GovCon recruiting? In a business world where every key stroke can be tracked and monitored, figuring out which data is actually impactful can be overwhelming. GovCon talent teams can gain clarity into their process, fill positions and increase revenue for their firm’s by paying attention to just two key metrics. First Time Interviews and Candidate Conversations. These metrics are not mere numbers; they can be a predictive indicator of program success and revenue for the company.

First Time Interviews

The First Time Interview is exactly what it sounds like—the initial encounter between a hiring manager and a candidate, whether by phone, Zoom, or in person. What makes this metric indispensable is that we can control this number. Hiring managers making interviews a priority, getting candidate and interviewer availability upfront, using video interviews when available, and getting as much accurate information as possible during the position intake call are all tools that can be used to control the number of First Time Interviews a team conducts.

By monitoring the ratio of First Time Interviews to hires, GovCons can forecast revenues with greater accuracy. For instance, if historical data indicates that one hire is made for every three First Time Interviews, and each hire has an annual bill rate of $300,000, then every first time interview scheduled has a projected value of $100,000 to future revenues. This kind of insight is invaluable for shaping not just recruitment strategies, but also financial projections and growth plans.

Candidate Conversations

A Candidate Conversation is the initial dialogue between a recruiter or sourcer and a potential candidate. This interaction, which must be a phone, video, or in-person exchange to count, sets the stage for a First Time Interview. This is another metric that is 100% controllable. The more calls, emails, and other forms of outreach a team attempts, the more conversations with candidates they will conduct.

By tracking the number of Candidate Conversations, GovCons can give their recruiters daily, tangible targets. Understanding that, say, fifteen conversations lead to one First Time Interview allows teams to work backward from their revenue goals to set daily activity benchmarks. This not only fosters a goal-oriented environment but also empowers recruiters with clear expectations and contributes to a culture of accountability and productivity.

Achieving IDIQ Contract Success with these Metrics

When competing for IDIQ contracts, where multiple contractors are vying for task orders, the ability to predict and scale talent acquisition becomes a competitive advantage. GovCons who master their First Time Interview and Candidate Conversation metrics can efficiently manage the ebb and flow of contract requirements, demonstrating to contracting officers their capacity for rapid scalability and quality delivery.

• Rapid Response: A firm grasp on First Time Interview rates allows GovCons to quickly direct their recruiting efforts to target strategic openings on the IDIQ, knowing exactly how many recruiting resources to allocate to the openings.

• Quality Delivery: By optimizing Candidate Conversations, GovCons maintain a pipeline of pre-qualified candidates, giving them a network of candidates to pull on when new task orders open on the IDIQ.

• Forecasting and Planning: These metrics provide the data needed for accurate forecasting and workforce planning, enabling GovCons to align their recruitment cycles with the anticipated flow of IDIQ task orders.

Linking Recruitment to Revenue

In GovCon, recruitment spending should not be considered a cost center —it's an investment with the potential for significant and relatively quick returns. When recruiters align their daily activities in the service of maximizing First Time Interviews and Candidate Conversations, they directly contribute to the company's financial health. This alignment ensures that every dollar spent on recruitment is a move towards enhancing the bottom line. Consequently, GovCons can also leverage these metrics in crafting precise revenue forecasts, turning the recruitment function into a financial engine rather than a cost center.

Metrics as the North Star

For recruitment teams in the GovCon sector, these two metrics serve as a constant reminder of their contribution to the company's success. Whether planning the day's tasks or devising long-term recruitment strategies, the focus should always be on maximizing First Time Interviews and Candidate Conversations. These metrics are the litmus tests for efficiency and effectiveness, ensuring that every action taken by the recruitment team is an investment in the company's future.

 To discuss how increasing First Time Interviews or Candidate Conversations can impact your business, or any other recruitment challenges you are facing, send us an email or set up a call.

📚 Continuing Education

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STEM Solutions is proud to present this issue of the SF-86. STEM Solutions specializes in the recruitment of cleared professionals. The federal talent market is as competitive as it gets, and we’ll help you win by getting the best talent, faster. Schedule a time to speak with us today. **