Hi Louis! Can you introduce Lymia to our readers?
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Of course Guillaume, I love sharing our story. Lymia was born of a simple but striking observation. We noticed that recruiters, especially in larger companies, spend an enormous amount of time sourcing, qualifying and meeting candidates from a variety of acquisition channels.
It's a fascinating job because it's all about building relationships. You get to know the candidate, their expectations, skills, salary aspirations, where they'd like to work, and so on. In this way, we can establish an initial impression of the fit between the candidate and the company culture. And it's also beneficial for the candidate, who can learn more about the company and the recruiter. A valuable bond is created.
However, this takes an enormous amount of time. All these candidate "leads", all these relationships, are then transformed into data in an Applicant Tracking System (ATS) used by the company's recruiters.
This is where things get complicated. If the candidate isn't hired right away - and here we're thinking of all the candidates who were close to being hired, or those who were a little too junior, or those who applied for one position but could have gone for others - nothing happens. And that's the problem.
These candidates, once entered into a database of several thousand, even hundreds of thousands for very large companies, end up being forgotten. It's as if they've fallen into a black hole. And why is that? Because it's very difficult for a recruiter to resurrect these candidates months later for a new position they're currently recruiting for. As a result, it's never done again.
And there are two main reasons for this. Firstly, the information the recruiter has on the candidate is static. It's tags, notes that have been taken, resumes in PDF format that don't update. And secondly, ATS search functionalities are insufficient.
We created Lymia to solve this problem. Our aim is to enable recruiters to start their candidate searches from their own database of candidates they have already sourced, qualified and met in the past. The idea is for them to be able to reconnect with these candidates in an efficient way before they go looking on LinkedIn.
What does Lymia mean in concrete terms? It's a tool that connects to the ATS. We synchronize the two databases. Lymia is a kind of mirror of the ATS, except that we enrich all the profiles with the latest career information we can find on the Internet. As a result, we have an up-to-date, clean and clear database.
Then, in Lymia, our promise is simple: you can make a request and quickly and accurately obtain a list of 5, 10, 15, 20 talents who are a good match for the vacancy you're recruiting for at that very moment.
What type of company is Lymia aimed at?
Great question, Guillaume. In reality, our main criterion is the size of the company. Because, naturally, when you only have a few hundred candidates in your database, you don't necessarily need a tool as sophisticated as Lymia. You can manage the situation perfectly well with a simple tagging system, playing around with a few keywords, all organized in a coherent way. You can even manage this amount of data in your head, or even on an Excel file on the side, without the slightest problem.
But when your candidate pool starts to grow to 5,000, then 10,000 profiles, the complexity increases significantly. And that's where Lymia comes in. The real need for our solution arises when your database exceeds 5,000 to 10,000 candidates. That's when we feel a company needs us enough to consider working together.
Now, to answer the other aspect of your question, we cater for all business sectors. However, it's important to point out that Lymia is primarily aimed at recruiting 'white-collar' workers, to use an expression I'm not particularly fond of, but which is very telling. These are the people you usually find on LinkedIn. A large part of our value proposition is based on updating candidates' career data using their public LinkedIn information. So, it's necessary for them to have a LinkedIn profile. On the other hand, all professions are covered: tech, operations, business development, logistics, research, data science, marketing, etc. Whatever the sector, Lymia has no problem adapting to it.
What's your impact?
There's one KPI I systematically ask for when meeting recruiters: what's your basic sourcing rate? This gives an idea of the efficiency of their recruitment process.
Most of the time, they tell me that this rate is non-existent because they don't track it. This is unfortunate, because although they can't give an exact figure, I know that this cost is very, very low. Most of the time, it hovers around 1 to 2%.
Lymia's impact can be measured precisely on this KPI. We're aiming for a significant increase in this rate within a few months of using Lymia. In 3 months, we want to take you from 1, 2, 3, 4% to 10% to 15%. In 6 months, to 20%. In 12 months, our goal is to get you to 30%.
Going from 0% to 30% basic sourcing means you can reduce your use of other channels, such as paid job boards and LinkedIn Recruiter licenses. This saves you time, money and improves your employer brand. Indeed, maintaining contact with candidates with whom you've already established a bond of trust has a valuable impact on your employer brand.
We have cases where, thanks to Lymia, a recruiter was able to launch a search in 5 minutes, make 3-4 calls and trigger a recruitment process. Everything happened very quickly, because the recruiter and the candidate had already known each other for 9 months. They hadn't lost touch, which made the process very efficient.
What does the future hold for Lymia?
We're just out of the beta phase. Lymia is now integrated with Lever. It's a tool that can work on its own, but really takes off when it's integrated with a database. In this way, all candidates arriving on the ATS are automatically added, enriched and updated on Lymia, without the user having to do anything. Then, once the selection has been made on Lymia (less than 5 minutes), the shortlist can be easily transferred to the ATS, with a single click.
Integrations with ATS are therefore of paramount importance to us. We've already started with Lever, and Tool4staffing. Others will follow. We're considering integrations with Teamtailor, Smart Recruiters, maybe Loxo, among others. In the near future, our aim is to continue integrating with ATSs to best meet recruiters' needs. This is our priority for the next three to six months.
Secondly, we have many projects in mind. We want to remain specialists, to be the best tool for sourcing from a database and rediscovering candidates. That's our identity, our DNA. Today, we're among the best in the world, the best in France in my opinion, and we want to keep improving to stay at the top. Our ambition is to make our use obvious to anyone wishing to source from their database.
In particular, we want to continue perfecting our data collection, taking greater account of company data, including it in our recommendation algorithm, and working on ever-faster functionalities. Eventually, we even plan to enable candidates to be qualified or requalified directly in Lymia, for even greater ease of use.
To conclude, what I find particularly exciting at the moment is that many of us in HR and recruitment are realizing that the market has changed. The power is now in the hands of talent, and we can no longer recruit the way we used to. The market is moving towards a more relational approach, whether in business or in recruitment. We're talking more and more about employer branding, candidate nurturing and talent retention strategies. These subjects are essential and very well addressed in France. I'm thinking in particular of Charlène Hemery, Léo Bernardand other key players. This evolution is very promising for a more relational recruitment, based on a real knowledge of the candidates. This is the direction we want to take with Lymia.
Thank you very much, Louis. It's an excellent conclusion that we at Skeelz totally share!
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