Best Year Ever

Posted by on Jan 8, 2016 in The LFT Blog | 1 comment

I have been dubbed a “serial entrepreneur” in the past for having been part of launching several startups. I often refer to LFT as a 12-year-old startup, as our team has spent many hours re-thinking every piece of our business since I joined almost two years ago. It’s been a lot of fun, and it’s nice to be able to say that our mission to truly change the recruiting experience for both clients and candidates is moving in the right direction.

We just finished our best year ever at LFT. Placements were up 16% from 2014 (which was our previous best year). I like to think the growth is a result of doing our jobs better. While I know we still have a good deal of work ahead of us to keep improving our product, there are a couple data points that make me feel good about our direction.

As you know, our business is divided into two segments – interim placements and permanent placements. In each instance, our clients want quality candidates, and they want them quickly. We have taken many steps to get better – perhaps the most important one being that we proactively interview as much as possible (meaning we talk to as many candidates as we can, even before having a relevant search). Then, when the right search comes up, we already have strong candidates to submit. Proactive rather than reactive. Second, our recruiters specialize by job category (surprisingly rare in this industry). Thus, when a new search comes up, we can invest in learning about the organization, as our recruiter already understands the position well.

The results of our efforts can be seen in two numbers that we track:

  • PERM: In 2014, our average cycle time (the time from when the contract was signed to the new hire’s start date) was 240 days. In 2015, it dropped to 130 days.
  • INTERIM: In January 2015, we closed 27% of the interim opportunieis we were contacted about (interim searches are always contingency searches). By year end, we had steadily improved to 61%.

I probably don’t smile as much as I should, but I do smile when I see these improvements because I am cognizant of the work and process changes behind the results. We are incredibly grateful to all of you who have given us the chance to work with you this year. We take that responsibility very seriously. So please accept our sincere thanks.

And as always, if we can ever help, please don’t be shy about picking up the phone and giving us a call.

All the best,

Bill Haylon
CEO

One Comment

  1. Bill, Congrats on improving stats in 2015, and let them go the same way in 2016!