cord
Drastically reducing agency spend with direct tech hires
"cord is set up for ‘minimum time, maximum reward’. We spend no more than 10 minutes per day on cord, get a 50% response rate. We made our first hire in a month, and have gone on to make over 30 hires."
32
direct hires made~50%
response ratecord usage
32 direct hires
8 positions
4 users
Greater London
About Trayport
Founded in 1993, Trayport is the primary network and data platform for European wholesale energy markets. Their network and solutions provide choice and support the growth of their trader, broker and exchange clients and trading markets. Their solutions are used worldwide in multiple asset classes across OTC and cleared markets. Trayport Limited is a wholly-owned subsidiary of TMX Group Limited (TMX Group).
Their mission is powering trading markets and providing solutions that support the growth of their clients in Europe and around the world. Their vision is to be an indispensable solution for traders, brokers and exchanges around the world in multiple asset classes across OTC and cleared markets.
Our Goal
We wanted access to a new pool of quality technical talent at an affordable cost.
Our Situation
Seeking a long-term solution
Previously we did a lot of our sourcing through LinkedIn, but as of late found that the platform was quieting down quite a lot, becoming more of a social media platform rather than a hiring one. Agencies were an alternative, but an expensive one, and for our hiring demands, we needed something much more affordable to use in the longer term. Therefore, we sought a new way to access the market at a reasonable price.
Using cord
A time and energy saver
Setting up streams is easy and effective. Once they’re set up and live, I have a high volume of people who are suitable for the role and I can filter them down however I like, messaging the ones I want to and hiding the ones I don’t. Trayport operates a hybrid model, which cord caters for, so I can filter candidates by remote preference, filtering out those who want to be fully on-site or fully remote. Not only that, I can see where they’re located and how many days they want in the office. Having this information up front means I’m not wasting time chasing Engineers who may not be suitable from the outset.
Every day new Engineers enter the stream, so the volume is consistent. I have Slack and email alerts set up when someone new enters my streams, therefore I don’t have to be on cord constantly refreshing - the Engineers ‘come to me’, and with these alerts, I can be one of the first to contact them. Through this, I don’t need to spend more than 10-15 minutes on cord every day. It saves me so much time and energy.
A swift hiring process
One of the things I like most about cord is the direct communication I get between myself and an Engineer. These conversations are open, honest and transparent; sometimes Engineers sourced through agencies can be a little standoffish, so this is a welcome change. Not only is the conversation transparent, but the profiles are too. Instantly, I can see an Engineer’s salary expectation, notice period, remote preference, and so much more. This cuts out a lot of the basic questions I’d normally ask in a first call, meaning I can get into meatier and more interesting conversations straight away.
The speed of responses from these Engineers is really what makes cord stand out. I normally get responses within 24 hours, which in this current market is absolutely vital to capitalise on potential hires. This, coupled with the fact that I get around 1 in every 2 messages replied to - compared to other platforms where you’re lucky if you get a response rate of 20% - means that I can move quickly along the hiring process.