Mar 4

Author: Amy Schroeder Ireland
Organization: Leonard, Street and Deinard
Newsletter: Employment And Labor Update – March 2006

The Department of Labor’s Office of Federal Contract Compliance Programs’ (OFCCP) final regulations defining “Internet Applicants” and setting forth new record keeping requirements went into effect on February 6, 2006. Although the regulations are already in effect, OFCCP has stated that it will exercise enforcement discretion for a period of 90 days. During that time, the department will not cite a contractor for purely technical record keeping violations where the contractor is taking reasonable steps to update its systems to comply with the rules and is maintaining records according to previously established procedures.

Under the new regulations, “Internet Applicants” are individuals who (1) submit an “expression of interest” in employment through the Internet or “related electronic data technologies”; (2) the contractor “considers” for employment in a particular position; (3) indicate that they meet the “basic qualifications” for the position; and (4) do not remove themselves from consideration prior to receiving an offer of employment. Where an employer accepts both traditional and “Internet” applications for a position, all applicants for that position are treated as “Internet Applicants” for OFCCP purposes.

Contractors must retain applications and résumés of all applicants, including those retrieved from online résumés or internal résumé databases. The regulations allow for some data management techniques as long as the contractor follows certain record keeping criteria. For example, contractors must maintain detailed records of the substantive search criteria used in searching internal databases and external electronic databases, such as Monster.com. Contractors must also retain records identifying all job seekers contacted regarding their interest in a particular position.

New EEO-1 Reporting Categories for 2007

In other related news, the Equal Employment Opportunity Commission announced on January 27 that the Employer Information Report, also known as the EEO-1 Report, will have a new format for the reporting period due September 30, 2007. The new format will include new race and ethnic categories, including the category “Two or more races, not Hispanic or Latino.” Job categories will also be revised, including the division of “Officials and Managers” into two categories, “Executive/Senior Level Officials and Managers” and “First/Mid-Level Officials and Managers,” and the movement of non-managerial business and financial occupations from the “Officials and Managers” category to the “Professionals” category.

Mar 3

We are borrowing concepts from the book “Lead Generation for the Complex sale” by Caroll.  Here is the basic definition of a GOOD LEAD:

B = Budget, the prospect has it, or can get it.
A = Authority, the prospect can decide on the matter.
N= Nees, the prospect clearly has a need for our service
T = Time frame, normally, the prospect wants to implement this within 3 months
S = Sales Ready, the prospect is ready to meet face to face with a sales rep.

Now, if we are to split the functions of the lead research team and the Lead Nurturing team (contact center agents), the lead research team’s responsibility is to find the “A” or people in authority to decide ie. get their right contact details, company background, and possibly, the “N” or the Needs of that company.

Whereas the contact center agents’ role would be to find out the B,T and S.  This means that the Contact center agents must do Lead Nurturing. The team needs to build solid long term relationship to be able to find out how they can help the prospect and get the Budget, time frame and gauge the ‘Sales readiness’.

Only when all 5 are present do we consider this a “Good Lead”.

Here are some ways to measure the effectiveness of the Lead generation efforts:

  1. Total cost / number of “Good Leads”
  2. Total cost / Closed Deals (actual billable clients)
  3. Number of Leads require to generate a single closed deal.
  4. Lead to sales conversion ratio

Please feel free to comment and share your experiences by posting your comments here.