Category: SaaS

The New Year is upon us! It’s always an exciting time for SaaS sales recruiting because there are new patterns, new trends, and new opportunities. 

In this post, I’ll share with you the latest SaaS sales recruiting stats in 2022 to guide your strategy and give you a competitive edge. Let’s jump right in. 

98% of Today’s Top Companies Use Recruiting Software

While you may not surprised that a lot of companies use recruiting software to streamline the process and find quality candidates, you probably didn’t expect it was this many. But according to recent data, nearly all of today’s Fortune 500 companies now use this technology — a stat that shows how ubiquitous and effective it is. 

Platforms like HireDNA take the guesswork out of SaaS sales recruiting, helping you attract elite candidates based on a wide range of core competencies, fill open positions faster, and reduce hiring mistakes. The key is using cutting-edge technology like intelligent matching that analyzes 20 key data points and science-based assessments to predict success. 

And with 33% less turnover, you can build a stronger, more loyal team of salespeople that are in it for the long haul.

88% of Companies Now Use AI for Recruiting

Another form of technology that’s rapidly expanding in SaaS sales recruiting is AI. Studies have found that, globally, 88% of companies are currently using it, with a staggering 100% of Chinese companies doing so. 

In terms of specific applications, some of the most common include “using chatbots to engage with candidates during recruitment (41%)” and “screening and assessing candidates during recruitment (40%).” For an in-depth list of other ways to leverage AI for recruiting, check out this resource. 

86% of HR Experts Say Recruitment Has Become More Like Marketing

SaaS industry growth is a bit of a double-edged sword. While it means increased opportunities and a larger customer base, it also means more competition. And with widespread talent shortages, the competition will be even more fierce in 2022. 

To keep up, 86% of HR experts say you need to approach recruitment like a marketing campaign. In other words, it’s no longer sufficient to haphazardly put out job ads and expect an overflowing pool of qualified candidates. Rather, you need to strengthen your brand and work on growing your presence across multiple mediums. 

This brings me to my next point. 

68% of Millennials, 54% of Gen-Xers, and 48% of Boomers Say They Evaluate a Prospective Employers’ Brand on Social Media

One of the main mediums in which candidates evaluate SaaS brands is social media. Over two-thirds of millennials do so, as well as many Gen-Xers and Boomers. And while this particular study doesn’t include Gen Z (candidates 24 and under), it’s safe to assume they use social media to check out prospective employers as well. 

The takeaway here is that SaaS companies need to have a strong social media presence, and it’s key for winning the competitive battle. As for the most popular social networks, here’s how that breaks down.

The main networks to focus on in 2022 are Facebook, YouTube, Instagram, and LinkedIn. 

Having a Strong Brand Image Can Reduce Your Cost-Per-Hire By as Much as 50%

Piggybacking off that, research has found having a strong brand image can dramatically lower your cost-per-hire, with some estimates being as much as 50% lower. Why?

This naturally helps you acquire higher-quality candidates and spares you a lot of recruiting expenses that SaaS brands with a poorer brand image have to deal with. If, for example, you’re an industry stand out like HubSpot, many top-tier candidates will come to you organically rather than constantly having to funnel money into recruiting. 

That’s why it pays to always look for ways to strengthen your brand image and provide a great employee and candidate experience.

Including a Video in a Job Posting Increases the Application Rate By 34%

I’m always a fan of simple recruiting techniques (hacks, if you will) that have a huge impact. If you’re looking for a straightforward way to significantly increase your application rate that doesn’t require an exorbitant amount of effort, including a video in your job posting is it. In fact, studies have found this results in a whopping 34% more applications on average. 

And that’s not surprising given the massive success of video platforms like YouTube. As of 2021, it had 1.86 billion users, and that number should only continue to increase into 2022 and beyond. 

52% of Applicants Say a Lack of Response From Employers is Their Number One Frustration 

Finally, it’s important to know the biggest sources of friction in the SaaS sales recruitment process. According to recent data, the main issue candidates have is not receiving a sufficient response from employers, with over half citing this as their main frustration. 

This shows the importance of being as communicative as possible throughout recruiting and not leaving candidates hanging. While you don’t necessarily need to fill them in on every last detail, it’s nice to let candidates you’re passing on know when you’ve decided to move on and keep those who’ve been shortlisted in the loop. Doing so sets the tone for a positive candidate experience and should help improve your brand equity as we discussed earlier. 

Starting 2022 Out on the Right Foot

From leveraging technology like recruiting software and AI to approaching SaaS sales recruiting like marketing to building a strong brand image to lower cost-per-hire, these stats paint a clear picture of what to expect in 2022. By making the right adjustments and focusing on core objectives, your SaaS company can start out on the right foot in the New Year. 

Want to learn more about how HireDNA can optimize your sales recruiting? Get the full details and see how 92% of recommended candidates reach the top of their sales force after working with HireDNA. 

SaaS sales has one of the slowest times to hire, according to recent data from LinkedIn. Their study found this industry has a median time to hire of 38 days, which means it takes well over a month for most SaaS companies to fill vacant positions. 

But what do you do when you’re in a rush and need to find qualified SaaS sales candidates in a hurry?

Here’s a proven strategy that can slash your hiring time in half.

Pre-Screen SaaS Sales Candidates

There’s a lot that goes into making the right hire. For example, you need to look at hard and soft skills, previous experience, education, core competencies, and so on. This, however, presents a problem because it can quickly become overwhelming to sort through all of this information manually. And many SaaS companies simply don’t have the bandwidth to devote to intensive recruiting. 

One of the best ways to filter through a high volume of applicants and narrow it down to the top contenders is through pre-screening. This is where you gather critical qualification information about candidates so you know who meets the necessary criteria and who doesn’t. That way you can quickly determine who to move to the next round of hiring and who to pass on.

When done correctly, this can expedite the hiring process dramatically.  

But There’s a Caveat

There’s just one issue. The pre-screening systems that many SaaS companies currently use often fall short.  

“The problem with most pre-screening processes is they are misaligned with your company’s needs related to missing skill sets, knowledge, or experience,” writes Murray Newlands in Forbes. Also, “antiquated pre-screening techniques could be prone to human errors and those involved in this part of the process may not be trained to make the right decisions.”

In other words, failing to have the right pre-screening system in place can actually do more harm than good. And if it’s not having any tangible results, what’s the point?

Use a SaaS Sales Recruiting Platform

That’s where a SaaS sales recruiting platform comes in. This software uses a proven, repeatable process that enables you to quickly find top talent that’s interview-ready without having to manually sift through dozens or even hundreds of candidates yourself. More importantly, it takes into account all of the essential qualification information necessary to ensure you make the right hires. 

Here’s how it works. 

First, you define the skills, competencies, and characteristics you need in a sales candidate —  their “DNA.” Next, the software uses powerful technology to pinpoint a list of active and passive candidates that perfectly match your criteria. HireDNA, for instance, taps into a verified national network sales talent to generate a pool of top-tier candidates. 

From there, candidates are screened and assessed using the OMG Sales Candidate Assessment which uses quantifiable data to predict success before being hired. HireDNA uses intelligent matching that analyzes 21 key data points to determine role, culture, and experience fit. This ensures every single person who makes it to the interviewing round fits your ideal candidate profile and has the core competencies needed to thrive in your SaaS selling environment. 

Here’s an example. 

At that point, the best of the best candidates are delivered to your inbox where you can conveniently manage them and decide who you want to interview. It’s then just a matter of going through the interview process and selecting new SaaS salespeople for your team. Platforms like HireDNA even include onboarding and training programs to get new hires up-to-speed quickly and have them hit their quotas in a shorter period of time.  

Additional Benefits

While results will vary, many SaaS companies are able to slash their hiring time in half with this pre-screening process. So, if you’re frustrated with your current time to hire, a SaaS sales recruiting platform is definitely something to consider. Besides the impact it can have on hiring duration, it offers some other key benefits as well. 

Perhaps the biggest is that it allows you to attract higher-quality candidates. Research has found, for example, that utilizing the OMG Sales Candidate Assessment can reduce hiring mistakes by 96%, and 92% of recommended candidates reach the top half of the sales force within their first year. Enabling SaaS companies to swiftly navigate through the process without running into any major glitches. 

Finally, there’s a correlation between using a SaaS sales recruiting platform and higher retention. In fact, turnover decreases by more than 33% with HireDNA — a trend that’s largely due to the industry-leading assessment science. By building a stronger team of sales reps that are naturally a great fit for your company, you can keep more of them around for the long haul and often set the stage for internal promotions. That way you’re not stuck in the endless cycle of finding and onboarding SaaS salespeople, only to wind up needing to replace them.

Drastically Reducing Your Time to Hire Without Sacrificing Quality

With 38 days being the median time to hire for SaaS companies, it’s definitely an area that needs some improvement. After all, if a key position is sitting vacant for over a month, this can take a chunk out of your productivity and profitability. Developing an efficient, pre-screening process, however, ideally with a technology sales recruiting platform, can dramatically reduce your time to hire by as much as 50%. 

Want to learn more about how this technology can accelerate your SaaS sales hiring?. Reach out to HireDNA today!