The Secret to Smart Hiring: Understanding the Recruitment Funnel

Going by the universal truth of “What gets measured, gets improved”, we at BarRaiser help clients understand, measure, and improve their recruitment funnel with great success.

To measure the impact of our product/service on the overall recruitment process, we did a study in March 2021 with 5 Indian product companies (hiring anywhere from 10 to 50 candidates/ month). We analyzed the data collected from 623 candidates (each completed two interview rounds) and here’s a quick snapshot of how BarRaiser optimizes the recruitment funnel at each stage. Read to know more about the advantages of interview outsourcing or interview-as-a-service to your organization.

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Insight#1: Reducing application to fill time while saving cost

Hiring practices vary across companies, but most spend anywhere between 7 to 12 hours per candidate per role, apart from the time lost on coordination. Thus, the indirect cost of technical recruiting for companies is approximately $1,730 per hire. Apart from this, most companies end up buying out the notice to get them to join sooner.

With BarRaiser, companies save up to $1,750 per hire by:

• Reducing application-to-hire time from 15-60 days to just 5-7 days
• Avoiding notice period buyouts, which can cost thousands
• Cutting interview costs by $250 per hire

For example, Imagine a startup looking for a backend developer. Normally, it takes a month to hire one. With BarRaiser, this can be done in a week, saving both time and money!

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Insight#2: Improving interview to offer conversion

A major problem companies face is losing candidates before they accept an offer. Long hiring processes make top talent choose other jobs. Due to supply-demand imbalance and longer time from application to offer (anywhere between 2 weeks to 2 months), candidate conversion was a staggering issue for all companies, especially for the newer brands.

Why? BarRaiser streamlines interviews, ensuring that candidates move from interview to offer within a week, instead of waiting for weeks.

On average, the drop-out rate for these five companies was ~33%. Since onboarding the BarRaiser interview panel, the companies reduced the interview-to-offer time to less than a week and improved the conversion rates to 4:5 (21% drop off rates) for the newer brands and 9:10 (9% drop off rates) for the established brands.

Example: If a company is hiring 10 engineers and normally loses 3 due to delays, BarRaiser helps them secure 2-3 more hires without extra effort!

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Insight#3: Better sourcing by data driving it

Hiring is not just about speed—it’s about getting the right people. BarRaiser uses AI and data to improve the quality of candidates over time. By collating the data from candidates’ experiences, the BarRaiser Global Score (BGS), and joiner information, the companies started channeling their candidate discovery better with a focused approach.

Example: A hiring manager at a tech firm noticed that employees hired using BarRaiser performed better in their first 6 months compared to those hired through traditional methods.

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Insight#4: Streamlining the recruitment process for candidates

Companies usually rely on automated tests or manual resume screening, leading to inefficiencies. BarRaiser eliminates these steps and handles everything from the first interview onward. As the candidate sourcing and CV screening got more focused (check the third metric), companies stopped using automated testing tools for CV filtering.

BarRaiser took care of their entire hiring process from the first round of interviews itself, streamlining the entire recruitment process, thereby reducing the drop-off rates (usual 20%) for experienced candidates.

Impact:

• No need for automated CV filtering—BarRaiser does it better
• Lower candidate drop-off rates (from 20% to almost 0% for experienced hires)
• Improved job satisfaction for HR teams

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Insight#5: Exceptional candidate experience

A good interview process makes candidates more likely to join a company. Interviews are a reflection of company culture, and BarRaiser ensures they are structured, fair, and engaging. If candidate experience through the recruitment process is good, chances of the candidate joining increase substantially.

95% of the candidates that go through BarRaiser interviews have provided a rating of 4+ (out of 5), with most finding it “intellectually scintillating” and “having the best interview experience”! Since using BarRaiser services, our clients were able to streamline their recruitment process.

Not only were they able to conduct structured, insightful interviews at scale, but their quality of candidates also improved over time with efficient sourcing while saving US$ 1,750 per hire in total. Imagine a marketing professional interviewing for two jobs. If one interview is structured, fair, and insightful, and the other is chaotic, they’re more likely to choose the first company—even if the salary is the same!

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