A cold list says “these companies are in your sector.” A signal list says “these companies are in your sector, and something just happened that makes hiring likely.” The second kind is far easier to write to, because you have a real reason to get in touch.
This is called signal-based prospecting, and it’s a fairly simple idea. Here’s how to put it into practice.
What a hiring signal is
A hiring signal is a public event that suggests a company may need more people soon. It’s not proof, only a hint. The art is in noticing the right hints and not wasting time on weak ones.
The signals worth watching
New and repeated job postings
The most direct signal. A company that’s posting roles in your specialism has a need today. Even better:
- Senior roles. They’re harder to fill, so agencies are more welcome.
- Roles open for weeks. If a posting has sat there a while, the pain is real.
- Several roles in one team. It suggests growth or a gap, not a single replacement.
- Reposted roles. Something didn’t work the first time.
The job-posting workflow turns this into a repeatable routine.
Funding announcements
Companies that raise money usually plan to hire. A seed or Series A often means the first few key hires. A later round might mean a larger expansion. The timing is usually a few weeks to a few months after the announcement. See the funding workflow.
Leadership changes
When a new head of function arrives, the team often changes. They bring in their own people, reconsider suppliers and fill gaps. That’s a natural moment to introduce yourself, gently. The new-leader workflow covers the etiquette.
Expansion news
New office, new market, new product, new customer segment. Each tends to need people who didn’t exist in the org chart last quarter.
Other useful hints
Depending on your niche: a company announcing a big customer win, a regulatory change that creates demand for specialists, a competitor layoffs that free up talent (useful for the candidate side), or a company with several resignations in one team.
Why one signal isn’t enough, and two is better
Any single signal can mislead. A funding round might be for a long runway, with no near-term hires. A job posting might be an evergreen role the company always keeps open. A new leader might be settling in for six months before changing anything.
When two or more signals line up on one company, the chance that they need help rises. A fintech that just raised a round and has five open engineering roles and just hired a new head of engineering is a very different prospect from one with a single stale posting.
That’s all the scoring system you need to start: count the signals, and put the multi-signal companies at the top.
A simple way to prioritise
Make a small table in a spreadsheet:
| Company | Signals | Fit with your niche | Priority |
|---|---|---|---|
| A | Funding + 5 open roles | Strong | Contact this week |
| B | One posting, 40 days old | Medium | Contact this week |
| C | Funding only | Strong | Add to watch list |
| D | Expansion news | Weak | Skip for now |
“Fit” matters as much as signals. A hot company in a sector you don’t serve isn’t a good prospect.
From signal to message
The point of a signal is that it gives you something specific to write about. In the message, mention the event briefly and connect it to something you can help with:
Saw the Series B announcement. Usually that means a few key engineering hires over the next quarter. We place backend and platform engineers at fintechs your size. Is hiring on the agenda?
Keep it light. Don’t say “I’ve been tracking your company.” You’re showing you paid attention, not that you’re watching them. For more on wording, see how to write a cold email to a hiring manager.
Where to find signals
Most of them are public. Common sources include company careers pages and job boards, funding announcements in business and tech news, LinkedIn updates about new roles, company blogs and press pages. You can track them manually, with alerts, or with tooling.
Be honest about the effort. Checking five sources across a hundred companies daily isn’t realistic for a busy recruiter, which is exactly why signal tracking is one of the first things teams hand to automation. We cover that split in what to automate.
Common mistakes
- Chasing every signal. Pick the two or three that matter for your niche.
- Ignoring fit. A signal without fit is just noise.
- Waiting too long. Signals go stale. Funding news from three months ago is less useful than last week’s.
- Making it obvious you scraped them. Reference the event naturally.
- No follow-up. One message after a signal isn’t a strategy. Plan a short sequence.
A realistic weekly routine
If you’re doing this by hand, a simple rhythm works:
- Monday (45 minutes): review signals, update your priority list, pick the companies to contact this week.
- Tuesday and Wednesday (30 minutes each): verify contacts, write and send messages.
- Thursday (15 minutes): follow-ups on last week’s messages.
- Friday (15 minutes): log the five numbers described in measuring outbound results.
About two hours a week keeps a steady stream going. If your team can’t find those two hours, that’s a good argument for taking some of it off their plate.
The short version
Watch for events that suggest hiring is coming: postings, funding, new leaders, expansion. Look for companies with more than one signal, check they fit your niche, and write to them quickly with something specific. It’s less guesswork, and it’s a lot more welcome.