Currency Capital is the fastest-growing equipment financing company on the West Coast in the United States, operating with the mission that convenient and accessible financing is essential to a successful economy. The company streamlines the traditional loan approval and funding process and has granted over $500 million in loans to small businesses since 2001.
Rooted in an “East Coast finance meets West Coast startup” culture that strives to support happy and successful employees, Currency has grown from 4 employees in one office to over 100 employees distributed throughout 4 cities in just 5 months — with no plans to slow down.
Currency Capital’s talent acquisition team is small yet mighty. With just 2 recruiters and an administrative intern to manage all aspects of recruitment, the team set out to double the size of its sales team in one year from 45 to 90 professionals while building a pipeline of quality talent to fuel future growth.
“We knew exactly who we were looking to hire, but we didn’t know how to find and attract that person to our organization.”
Jered Takeuchi, Executive Vice President, Sales
Time is a precious resource for a small recruitment team, so Currency turned to LinkedIn. The team sees LinkedIn as the only place where you can network, post jobs, source, hire, and promote content all in one place. Other jobs boards and sourcing tools were simply less effective and more decentralized.
Currency uses LinkedIn Recruiter to access LinkedIn’s professional network and find the right candidates for their open roles. The “ideal candidate” search feature helps the team quickly identify talent with similar skills and experiences as the company’s top performers — a capability the team calls “game changing.” The “open candidate” search filter helps the team find talent who are open to new opportunities, resulting in a higher response rate and faster time to fill.
When Currency finds quality talent, they reach out via InMail. The team aims to send 30 high quality, personalized InMails per day to potential candidates, since quality messages are much more likely to make an impression and elicit a response.
“For startup companies without name recognition, it’s so important to understand how LinkedIn lets you take control of your employer brand, pipeline, and attract quality talent. Your competition sure does!”
Jordan Weber, Head of Recruitment and Talent
LinkedIn Jobs help Currency showcase its unique culture and values to attract good-fit applicants. Currency posts 100% of its job openings on LinkedIn, and 81% of all hires made with LinkedIn have come from job applications. Of these applicants, 44% are passive talent, meaning they are not active or accessible on job boards.
To ensure Currency jobs catch the attention of the right candidates, the team sponsors its high-priority positions. When Currency sponsors a job post, the company sees a 10% lift in views and applies compared to non-sponsored job posts. Recently, one Currency job received 53% more applications than its competitors’ average application rate.
- 44% of applicants for Currency’s jobs on LinkedIn are passive talent
- 35% lift in InMail response rate in 12 months
- 26 quality hires from LinkedIn in 12 months
Looking forward, Currency will maintain its focus on fueling steady growth with quality applicants. To do so, the recruitment team plans to partner more with marketing to fortify its brand presence on LinkedIn and encourage employees to share why Currency is a special place to work.
- Use tags in LinkedIn Recruiter as reminders to follow up with top-tier candidates and keep them in your pipeline.
- Incorporate your unique culture and values in your job posts to attract quality applicants.
- Be more efficient with InMails by focusing on sending fewer, better messages.
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