Buying signals come in different forms. Many people focus on overt buying signals, such as the things a sales prospect says or the actions they take on your website. But buying signals can also be covert, like the complementary products a company uses. Company growth, another covert buying signal, is especially interesting. As a company grows, its needs shift. This is particularly true as a company is actively growing – seeking and hiring new talent to add to their team. Many founders, CEOs and hiring managers agree: Hiring and onboarding an adept, high-quality workforce is one of the biggest challenges of an expanding company. So one data point Datanyze has been focused on obtaining is hiring data as another buying signal of a growing company.
This month, we released our newest dataset, Job Postings. This dataset collects information on companies’ hiring trends, separated into three data points:
Job Postings - A search and select list of hundreds of open job postings by title.
Job Postings Added - Combines job title with a history of when the job was posted.
Total Job Postings - A numerical value of all the active job postings within a company.
The signaling power of each of these three data points is made even greater when it’s combined with other values such as technology usage, funding, employee size and revenue. This data has shown to be valuable as a buying signal in numerous scenarios, but we’ve outlined three that are especially compelling.
Total Job Postings as a Technology Buying Signal
The technology stack of a low growth business can (and should) look extremely different from a robust, growing business. As companies grow, expanding the capabilities of their human resources technology stack is usually the first thing to happen. After all, can you imagine having to manually track and hire applicants if you have more than a few job postings? (I’m sure people have done it… but they were probably HR magicians).
Larry O’Connor, Founder and CEO of Other World Computing, said in a Forbes article that “a key objective for me is to recruit the talent we need to grow and to ensure we have the right programs and benefits to not only retain this talent, but enable them to perform at their best.” Many professionals agree that finding and retaining superb talent is one of the toughest and most important tasks of a growing company. This makes adequate and robust human resources technologies, like Applicant Tracking Systems (ATS), Human Resource Management Systems (HRMS) and Payroll Management, vital for growing businesses.
As a salesperson looking for growing companies, data on job postings come in handy here. You can easily find companies that are hiring for dozens of positions but lack the technology infrastructure to support such growth.
For example, let’s say you work for an Applicant Tracking System (like Taleo, Jobvite, or Greenhouse), and you’re looking for net-new accounts that 1) recently had a funding round, 2) are hiring a ton of new people, and 3) are missing technology to help them manage the hiring process. Putting these targeting parameters into Datanyze produces a list of companies that are growing and could benefit from an ATS.
In fact, combining technology usage data with data on the total number of open jobs can produce powerful results for a number of technology industries.
Number of Job Listings to Score and Qualify Inbound Leads
Many companies use the number of employees or revenue as a key indicator of whether an inbound lead is ‘good’ or ‘bad’. But, this can often be a poor substitute for identifying if a company needs your software or services. Especially if you work in the human resources or recruitment industry. Data on the number of or types of open jobs a company has can be a better buying signal, making for a meaningful data point on a lead’s score.
Job Function as a Recruitment Buying Signal
For recruitment companies, finding new business can sometimes be a tedious process. Searching through open jobs on multiple platforms, finding contact information for the hiring manager, and reaching out is time-consuming. With Job Postings data, we combine all those buying signals in one place. Recruitment organizations looking for new business can search across hundreds of job titles and other data points easily.
For instance, let’s say a recruitment organization specializes in hiring software engineers. Using Job Postings data, you can find all the companies that have open jobs for specific job titles.
Even better, once you find those companies actively hiring engineers that data can be pushed to a CRM. This cuts down on prospecting time, meaning more time actively engaging companies and people with all the right buying signals.
Conversely, if you’re a recruiter looking to place an exceptional candidate, Job Postings data can be useful here too. Simply search for positions that match the candidate’s skills and Datanyze presents an aggregate list of companies hiring for that role.
While these three use cases are the most common use cases we’ve seen for using Job Postings data as a buying signal, it’s not a finite list. How would you use this dataset?