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Resume Value Varies
(November 19, 2004)

Value Varies
The value of a Resume varies depending on circumstances. Resumes are collected for a variety of purposes. From market testing to the filling of an immediate opening, the data contained in Resumes is used to ascertain a range of information about the employment marketplace and the suitability of an individual for a specific job. Accruing a large volume of Resumes associated with a specific field of endeavor is often understood as a method for gaining controlling information within a niche in the labor supply. As a result, there is a sound basis for arguing that a large collection of Resumes is worth much more than the sum of the individual Resumes in the database.

The value of a Resume also varies in proportion to it importance. For example, the right Resume of the right person to fill a critical job on a project can mean the ultimate success or failure of the project itself. In the case of such a critical strategic employee, the Resume could easily be construed to be worth all of the profit involved in the successful completion of a project.

Alternatively, business planning, which requires a team of employees for successful implementation, depends on the availability of the right people to execute the new business. The value of Resumes in a startup can be construed to be equal to the company's market valuation.

While these are extreme examples of the ways in which the value of a Resume can be described, they are offered to illuminate a single point. The value of a Resume varies based on the criticality of the job being filled. Many contracts have been lost and projects have failed to meet completion deadlines because the management team was unable to find the right people at the right time. Ultimately, the value of a Resume is significantly influenced by the importance of the work function that would be performed by the holder of the right set of credentials.

Time Sensitivity of Data
To draw on an analogy from Nuclear Physics, information has a short 'half-life'. Fresh Resumes from actively interested candidates are significantly more valuable on the day they are received than they are six months later. At the moment a Resume is received by a recruiter, the contact information is correct and the credential information is up to date. As time passes, particularly in the case of an active candidate, contact information changes (moving, area code changes etc.) and credentialing information varies (new assignments, new employers, new training).

Within 6 months of the receipt of a Resume, there is a 100% likelihood that the credential information has changed. Active candidates take new jobs, and additional training is a component of most new employment settings. During that same time, there is a likelihood of 25% change in the contact information. 10% of all new employment involves a move. 15% of Americans have undergone an area code change during each six-month period during the past 4 years.

A Resume has its peak value at the moment it is received. Using it 6 months later involves verifying much of the information contained in the original product.

Additional Topics:

  • Specific Information Influences Value    
  • Strategic Importance of The Hire    
  • Opportunity Cost (Tactical Importance)    
  • Access To The Resume
  • - John Sumser

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