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CRESTHAVEN FINANCIAL

Guide to Microdec – Phase 3

Shortlist Calls

The process of making shortlist calls breaks down into 3 main portions. The list, making the calls using a script, and recording the outcomes.

The Saved Lists

Before the researcher begins each Shortlist Calling task, the consultant assigning this task to the researcher will provide the researcher with a Saved List to work from. This list correlates with an open vacancy that the consultant is working and will contain all the candidates that the researcher is required to reach out to, along with their contact information. Information on how to view saved lists can viewed here.

https://i.imgur.com/72LDkHS.png

Making Calls Using a Script

Once the researcher is given a list, it is the researcher’s task is to market the open vacancy related to this list that we are working. The researcher will be given a script that contains information on the vacancy and the organization the vacancy is with, as well as all the talking points that the researcher needs to touch on to describe the role. The script also contains flow charts on what points to make next based on the candidate’s responses.

Recording the Outcome

The final step of this process it to record the outcome of the phone call. If the candidate does not answer, the researcher is to leave the box to the left of the candidate’s name ticked. If the candidate does answer, the researcher is to untick the box to the left of their name:

After completing the candidate call, the researcher will record the outcome on Microdec. The researcher will shortlist the candidate against the vacancy, then manually write of four of the following notes as it relates to the job order:

  1. Cleared – The candidate is fully interested in the role
  2. More Info – The candidate wants more information on the role
  3. Not Interested – The candidate is not interested in the role
  4. Wed to ______ – The candidate is not interested and is only interested in roles in a certain location. Fill in the blank with the specified location.

Shortlist Calls - The Step-By-Step Process

  1. The researcher will receive shortlisting tasks from the consultant(s) that they are supporting. The consultant will put together the saved list in which the researcher will call through. The consultant will put the saved list into the researcher’s name and will include the job title and vacancy number in the title of the saved list.
  2. Upon opening the list, the researcher will need to ensure that the style is set to researcher.

    By changing the list style to researcher, the contact information for each candidate is immediately visible from the list view.

  3. Along with the list, the consultant will also provide the researcher with a script for making these calls. The script will give a thorough overview of the vacancy, information on the organization the vacancy is with, and a flow chart guiding the researcher through the call, telling the researcher how to respond to the candidate’s responses. (An example script will be on the last 2 pages of this guide).

  4. With a list and a script in hand, the researcher has everything they need to begin making calls and shortlisting candidates. Starting at the top of the list, the researcher will begin working down the list, one candidate at a time, calling the phone number associated to them on the list.

    • If the candidate does not answer, move on to the next candidate on the list.
    • If the candidate does answer, immediately click the check box to the left of their name (The Flag column) and remove the check mark. We want this box to be empty for the candidates that answer. This helps keep track of active candidates.


      For example, in the above image, Alexander Keyes answered the call, however Alexander Li did not.

  5. With a candidate on the line, the researcher just needs to read from their script describing the role and the organization and ask if the candidate is interested in the role. The researchers only responsibility is to explain the role briefly, and to gain a response. There are four responses that we are looking for:

    • Cleared – If the candidate is interested in the role based on the researcher’s description, then the researcher will record this candidate as cleared for the position.
    • More Info – If the candidate requests more information outside of the researcher’s script/knowledge, then the researcher will record this candidate as requesting more info. The researcher is not responsible for knowing details outside of the script, if the candidate requests details that the researcher does not know, the researcher is to just tell the candidate that the consultant working the role will reach out with more details soon.
    • Not Interested – If the candidate is simply not interested in the role based on the researcher’s description, then the researcher will record this candidate as not interested in the position.
    • Wed to ______ – Sometimes the candidate will inform the researcher that they are only interested in roles in a certain geographic region. When this happens, the researcher will record the call as “Wed to ______” where the blank is the geographic location.
  6. After the phone call concludes, click on the candidate’s name on the Saved List, and then click the Phone button in the action menu in the top left.
    This will open a small pop-up window, click the Record Call button on the bottom of this window.

    From here this will open the Call to Candidate menu
    There are 4 steps to complete on this page.

    1. Check the completed box (Figure 1).
    2. Click the Outcome dropdown and select Shortlist (Figure 2).
    3. Choose one of the four notes based on the candidate’s response (Figure 3).
    4. Click OK at the bottom to submit the Call Outcome
  7. Upon clicking OK, the researcher will be brought back to the Saved List and they can proceed to the next candidate, repeating the process from step 4.

Sending Marketing Emails for Vacancies

Another role of the researcher is to send out mass marketing emails for vacancies that the consultants are working. These are sent out as a pre-cursor to the shortlisting phone calls that the research will be making on behalf of that vacancy as well. The point of these emails is to send out informational messages about the vacancy to a list of qualified candidates. The information in these emails comes directly from the consultant, and the researcher is not expected to do anything other than send the pre-written emails and shortlist the responses.

Mass Mailing - The Process

  1. The researcher will receive marketing tasks from the consultants. The consultant will instruct the researcher to navigate to their saved lists and to look for a specific list, usually by name or by list number. “Please market to the list for Shea & Co list for Boston Analysts and Associates”
  2. Upon opening the list, the research needs to hit the hamburger menu next to ‘Other Actions’ on the left side, and then select ‘Email candidates in list’.
  3. Upon entering the ‘Email candidates in list’ page, there will be various fields already filled in. This is because the consultant set the saved list up to be tied to a vacancy, which will pull data on the organization and contact. The researcher simply needs to perform 3 actions on this page.
    1. Click the Message Template dropdown and select T03 – Get in touch re vacancy
    2. Change the Communication Type to Recruitment Activity
    3. Untick the box next to Create Task
  4. By selecting the message template of T03, the researcher is telling the system to pull note data from the relevant vacancy and place it in the body of the email. This note data is information about the vacancy that the consultant has written before giving the mailing task to the researcher. Essentially, the researcher by selecting T03 is loading a pre-written email into the system.
  5. Now the researcher just has to click Finish at the bottom of the page and wait. Depending on the size of the list, the mailing action can take anywhere from seconds to hours, with most of the lists that we deal with landing in the 5 to 20 minutes range. During this time, Microdec is unusable to the researcher, so we try to focus our mailing events to occur in the afternoons.

Recording the Outcome of Emails

Upon marketing a role through email, the researcher should expect to get an abundance of replies and know how to appropriately record the outcome of these replies. Unlike phone calls, which have four possible outcomes that we can record for the event, email events only have one possible outcome, which is shortlisting the candidate. If the candidate replies to the marketing email at all, regardless of what they say, the event outcome recorded for that candidate is set to shortlist. Let us look at the process.

Shortlisting Candidates from Marketing Emails

The following information assumes you read the previous pages on Sending Marketing Emails for Vacancies. Imagine the following steps are occurring after sending your marketing email and receiving a few replies in response to that email.

  1. Upon opening Microdec following an email marketing campaign, you may notice that you now have unread messages. From your Hub page, there are two way to open these unread messages so you can read them and record their outcome. Clicking either link (1 or 2) will take you there.
  2. Clicking on either link will take you to the same page, a page where you will immediately see all of your unread email. If the email comes from a Candidate or Contact within the system, you will immediately see the senders name is Blue or Pink, respectively.
  3. Assuming the role marketed was for a Leading IB Business Services VP (Seen in picture above), the researcher would click on that email to open it:
  4. Remember, we do not necessarily care about the response of the email, just that the candidate responded. Upon opening the email, immediately look to the left side of your screen and locate the Record Email button in the Other Actions menu and click it:
  5. This will take you to the Email Received screen. This screen allows you to record the outcome of the email and add the candidate to a shortlist. There are 2 actions that you need to perform on this screen.
    • The first requirement is the Vacancy field. Each vacancy will have a vacancy number allocated to it. The consultant will provide this number to researcher, but the number can also be located on the saved list that the researcher is working through. Upon doing so, the Contact and Organization fields will auto-populate with the relevant information.
    • The second requirement is clicking the Outcome dropdown and selecting Shortlist. The main goal of this process is to add candidates to a shortlist for the consultant. We are taking all candidate’s that have shown activity through email and adding them to a shortlist.
  6. Finally click OK at the bottom of your screen to save the outcome. This will bring you back to your unread emails.

Maintaining a Rolling Shortlist

One important aspect to the entire shortlisting process is maintaining a “rolling document” that lists all the vacancies that the researcher has worked or is currently working. A rolling document is simply one document that you update daily rather than starting a fresh one. The researcher will send this email to the consultant(s) that he or she is supporting on a daily basis.

Maintaining a Rolling Shortlist - The Process

  1. If you have not already created your rolling shortlist document, go ahead and open Word and create a blank document. You should title this document ‘Rolling Shortlist’.
  2. In order to add content to the Rolling Shortlist, the researcher should start, or already be working on, an email shortlisting assignment. Generally, this is how the researcher starts their day every day, by going through their inbox and shortlisting candidates based on previously sent marketing emails.
  3. While working the shortlisting assignment, researcher should take note of the following information regarding the vacancy relevant to the assignment:
    • Organization that the vacancy is for
    • Skill that the vacancy is for
    • Level (position) that the vacancy is for
    • Location of the vacancy
    • The vacancy number
  4. The researcher will then take the information from step 3, and format it into a string of text that will be added to the rolling short list. An example of the string of text is below:

    Note: Any vacancies that the researcher works on that day should be bolded in the document. The researcher must always bold the vacancies that have any new activity, whether that’s shortlisted candidates via email or call.

  5. Any vacancies that have new actions (candidates shortlisted via phone or email), bold that vacancy. Every vacancy that you have worked will be on this shortlist, and the vacancies that currently have action will be bolded.
    Note: Please remember to un-bold previous day’s active roles.

  6. Finally, the researcher will copy and paste their rolling shortlist into an email with any and all consultants that the researcher is working with. This email should be sent daily to the consultants. As the researcher should be starting their days working their inbox, this email is usually sent within the first 2 hours of the day. This gives the consultants ample time to go through the rolling shortlist, touching on any relevant action that they see.

Fixing Undeliverables / Bouncebacks

On occasion, when running email campaigns, you will receive emails that look like the following:

We call these bounceback emails. Bounceback emails are emails that we send that are undeliverable for one of various reasons, that ‘bounce’ back to us along with a warning message (such as the one in the image above). The most common cause of bounce back emails is because the email address that we attempted to send to was invalid. This could be for a number of reasons; The email could contain a typo, the person that we are attempting to email may no longer have an email address with that organization, or potentially we only have a zero stored as their email (remember we zero out contact info that we cannot find). When we receive these bounceback emails, it is a good indicator to take a minute to use our resources to attempt to fix this missing or invalid email.

Methodology for Fixing Bouncebacks

  1. ZoomInfo – One of the fastest and most reliable ways of fixing bounceback emails is through ZoomInfo. There are two effective ways of using ZoomInfo to do this. The first approach is to navigate to the candidate’s LinkedIn profile and use the ZoomInfo extension to pull open their ZoomInfo profile, and from here check if they have contact information listed. The alternative route is to go directly to zoominfo.com and use their advanced search function to search for the candidate. To do this effectively, enter their full name, the organization that they work for, and if possible, a location, and you should yield good results. Click on your candidate (if they are within the search results) and grab their email address if it is provided.
  2. Company Reference – Another fairly surefire way of determining an email address is to look within our database and look at other employees within their organization (if they exist). Specifically, take a look to see if any of them have emails listed for themselves. If you can tell that other employees within that organization have emails that follow a set pattern, such as (but not limited to):

    It is incredibly common for companies to use the same naming convention across most, if not all, of their employees. If you can tell that other employees for an organization have emails that follow a naming convention, try that same naming convention for your candidate with a missing email.
    Note: Keep in mind, while the above is effective for finding company emails, we need to remember that these are company emails that we are finding and do not belong on candidate profiles. This would primarily be for contact bouncebacks.
    3. Company Websites – Another approach to obtain reliable company emails is to check the company website. Success rates will vary wildly, it’s entirely hit or miss what companies will include a team page or contact info on that team page, but when it exists you can be confident that the information is accurate. This is effective for finding the emails of higher ups within the company, it’s less common for lower leveled employees to be included in team pages, unless the company is smaller.
    4. LinkedIn – When all else fails, a direct approach through LinkedIn is an effective, albeit slower, method of obtaining an updated email address. There are two main approaches you can take. The first is simply connecting with that profile. Upon a successful connection, navigate to their profile and check their contact information. If an email exists, grab it. The second approach is to essentially take the email that bounced back (usually a marketing email that we sent that bounced back) and resend it to the candidate or profile through LinkedIn InMail. Follow this message a request to connect via phone call or email, as well as a connection request on LinkedIn if you have not already sent one.

EXAMPLE CALL SCRIPT

Example Template: Headhunting for SVB Leerink

Initiate Phone Call

Re-Write This Portion

The call script's original format requires a lot of reformatting, still working on the below content.

If Voicemail:
Hi candidate's name,
My name is ___ and I am calling from Cresthaven Financial. I am reaching out in regards to a role that I am working on filling on behalf of SVB Leerink. Please give me a call back at . If they answer Option #1 Hi , This is < researcher’s name> with Cresthaven, how are you? I’m reaching out in regards to a mandate that I am working on behalf of SVB Leerink. Do you have a minute to speak? Option #2 Hi , This is with Cresthaven, how are you? I am calling in regards to a role I am working on filling with Leerink in New York. Do you have a minute to speak? If they ask: Who Is This? Who is Cresthaven? Cresthaven are a dedicated recruitment team, hyper focused on the investment banking landscape and opportunities. If they say no, they don’t want to speak Ok great, I will follow up with an email with more information now. End Call If they are interested in speaking about the role Great, the role is with SVB Leerink in New York. The team is looking to make an experienced analyst additional to join their Healthcare M&A team. The group is widely-regarded as one of, if not the top, healthcare advisors in the US. The group is hyper-focused within the healthcare space covering: Biopharma, Medical Devices, Tools & Diagnostics and Healthcare Services. The team has completed over 800 transactions, Guided by some of the most well-respected, and top revenue-generating healthcare MD’s in the US, the team has tremendous momentum. If they ask specific questions The lead consultant working this role will be in touch with detailed information. Conclude the call asking if they are interested That being said, would you like to be shortlisted for this opportunity with SVB Leerink?

Additional transitional topics for leads: • Ok, and what sort of roles are you interested in at the moment? • What locations? • Who have you been speaking with recently, so I know not to submit you there / contact you regarding opportunities there? • Who/What/Where??? Firm Name / Coverage / Location (Who did you speak with there?)