Why has the average time to fill open positions through WellFound increased from 25 to 35 days in Q2?

Introduction

The increase in average time to fill open positions through WellFound from 25 to 35 days in Q2 is a significant shift that warrants careful analysis. This 40% increase could have substantial implications for both WellFound's business model and its users' satisfaction. I'll approach this issue systematically, examining potential root causes and proposing data-driven solutions.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be seasonal factors at play. Has this increase coincided with any particular time of year or industry events?

Why it matters: Seasonal trends could explain temporary fluctuations. Expected answer: No significant seasonal trends identified. Impact on approach: If seasonal, we'd focus on cyclical strategies; if not, we'd look deeper into internal factors.

• Considering user segments, I'm curious if this increase is uniform across all job types and industries. Have you noticed any particular sectors or job levels more affected than others?

Why it matters: Segmented data could reveal targeted issues. Expected answer: Tech and senior roles more affected. Impact on approach: We'd prioritize investigating factors specific to these segments.

• Regarding recent changes, have there been any significant updates to WellFound's platform or algorithms in the past quarter?

Why it matters: Product changes often have unintended consequences. Expected answer: Minor UI updates, no major algorithm changes. Impact on approach: If significant changes occurred, we'd focus on their impact; if not, we'd look at external factors or gradual shifts in user behavior.

• Thinking about market dynamics, has there been any notable shift in the competitive landscape or economic conditions affecting hiring?

Why it matters: External market forces could be driving the change. Expected answer: Some economic uncertainty, but no major market shifts. Impact on approach: Significant market changes would lead us to focus on adaptive strategies; otherwise, we'd prioritize internal optimization.