GB Ep 58: Why You Should Build a Hiring Funnel

Today I outline the importance of having a hiring funnel to help you find the right people and eliminate the wrong ones. A hiring funnel is important, and I’ve found this out the hard way: I once made an $840,000 hiring mistake.

• If you take a marketer’s perspective, when you put visitors through a funnel, a typical conversion rate is 1% for eCommerce. [01:15]
• As people move along they funnel, some drop out at each step along the way. [01:36]
• You should think of hiring in the same way: especially if you create a job listing. You have tire-kickers and mass appliers that you don’t want to waste your time with. [01:52]
• You need to have systems in place to cut out unqualified people at each step of the funnel. [02:10]
• At the very beginning, you might have an attention-getter to show you that the applicant has actually read the job posting & knows what’s going on. [02:14]
• As you go along the funnel, you can ask better questions, check references, get second opinions, etc. to create a more effective hiring process. [02:33]
• An effective hiring process is important because companies are made of people, and you don’t want to end up making an $840,000 hiring mistake (like I did) on one person. [02:48]
• Key takeaway: Build a hiring funnel – if if you’re just a solopreneur hiring contractors. It’s best to invest in the time upfront and not have a headache later. [03:04]

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