One of our Directors Peter Brophy has previously worked as Head of Recruitment / Resourcing in organisations such as Rolls-Royce, BDO and Proxima as well as for Manpower the global recruitment and workforce solutions business. He has also worked within specialist Executive Search and Selection recruitment businesses. He has experienced and implemented different recruitment models and processes across a number of sectors at a senior level giving a deep insight into the strengths and weaknesses of these from both sides of the fence.
Here he offers his expert opinion on the merits of the various recruitment models available to large organisations.
Here’s an excerpt from our Procurement Quarterly Market Update for the second quarter of 2015.
This market is the one that bucks the trend this quarter as the growth in the use of procurement technology continues unabated. Several industry reports offer impressive growth predictions for this market over the rest of this decade and this is supported by anecdotal evidence from our clients in the sector.
The second quarter of 2015 has seen strong demand for people with proven skills in systems implementation, transformation consultancy, project leadership and business development.
The core areas that we see most activity in relate to P2P, e Sourcing, analytics and contract management technology with the first two leading the way.
Experienced professionals who can point to an impressive track record selling or implementing these systems are in strong demand. Furthermore, with a finite talent pool in the UK to satisfy this demand, the skills shortage that we have observed in our last five regular quarterly reports is becoming more acute. Salaries continue to rise as a result.
What’s more, we have now collated hard evidence of these salary trends in the sector over the past year to support some of our clients recruitment activities and they make for fascinating, if slightly worrying reading.
Those companies that are consistently successful in hiring the skills they need in these market conditions are the ones that adapt best to the challenges they face. We’ve helped design several innovative solutions to enable our clients overcome these challenges in a market we know intimately and this has given them a valuable source of competitive advantage.
If you wish to discuss our sector specific salary data or our innovations in talent sourcing please contact Andrew Daley.
The market for “in house” roles requiring these skills hasn’t been as bouyant as the provider market largely because of the trend to use technology platform providers and associated consultancies. However there have still been some interesting opportunities in major corporates for both P2P and e Sourcing specialists.
The interim market place for these specific skills has been steady throughout 2015 following a solid period in 2014 but there is still usually resource available when our clients need short term support to address spikes in their work load.
We anticipate that this particular interim market will get busier towards the end of Q3 of 2015 as a direct result of the talent shortage in the permanent market.
Here’s a case study explaining how our range of services has enabled one of our clients in the sector to hire the people they need despite the challenging market conditions.
Case Study – Adapting To Competitive Market Conditions
A rapidly growing spend management platform provider needed to make a key appointment. They ideally wanted to identify a candidate with experience from a direct competitor that could fit seamlessly into client facing projects.
In a market where those skills were particularly rare, we identified an outstanding candidate who met all the core criteria. After reviewing our findings on recruitment best practice, the client ran an excellent interview process, and the candidate accepted an offer at the perceived market rate. However the candidate was then made a very aggressive counter offer when he resigned which increased his basic salary by 32%. The candidate then decided to stay with his current employer.
We then focused on a second candidate that we had identified earlier in the process. He was offered a salary at the very top of our clients band for that grade. However he was made another offer by a Consultancy which was worth 15% more on the basic salary alone and accepted that.
At this point our client realised that the market had moved on from their existing salary bands and they needed accurate, up to date salary benchmarking data for their specific market sector.
Within 10 days we were able to gather salary data from their direct competitors and make our recommendations on the market rate for their various different grades. Using this hard evidence HR and the senior management team were then able to revise their salary bandings across all grades giving them more flexibility to recruit external talent without creating pressure on their existing internal structures.
This client’s ability to adapt to changing market conditions has now enabled them to compete successfully for the best talent in the market. As a result the role has now been filled with a very strong candidate that we sourced from a direct competitor.
We’ve also been able to recruit for additional roles for this client at the lower and mid points of their salary bands by tapping into an alternative talent pool that we discovered through extensive networking across the sector.
If you would like to understand how Edbury Daley can have a positive impact on your hiring process in challenging market conditions, please contact Andrew Daley.
For more information on the Spend Management market place, please visit our new site http://www.spendmanagement.co.uk/
Here’s an excerpt from our Procurement Quarterly Market Update for the second quarter of 2015.
The second quarter of the year brought a UK general election and further concern about the economic stability of the Eurozone. At Edbury Daley, we saw a drop in the number of new procurement vacancies coming to the market prior to the election. With opinion polls predicting a hung parliament and political commentators speculating on which parties would be capable of striking a marriage of convenience to create a majority, uncertainty was rife in the business world.
For many businesses that uncertainty manifested itself in delayed hiring decisions with positions pulled or postponed. The unexpected Conservative majority provided a considerable boost to business confidence but also introduced the prospect of a referendum on the UK’s membership of the EU. For those businesses reliant on trade across EU member states a new uncertainty was created by the Conservative manifesto.
The wider economic landscape had a filtering effect on those business looking to hire. Those truly committed to expansion still went ahead and searched the market for the procurement people they needed. The more tentative recruiters drew back and waited. The impact at Edbury Daley was a surge in conversion from job instruction to placement.
Those businesses which still hired enjoyed the benefit of a window of opportunity whereby the strongest candidates briefly had slightly fewer potential career moves to choose from. Coupled with our advice on salary and talent attraction they were able to strengthen their procurement team during Q2.
The more tentative recruiters made little progress with sluggish recruitment processes and weak financial offers to the strongest candidates leading to offer rejection. The candidate market proved too competitive for those businesses unable to adapt to changing conditions and many still have unfilled vacancies that are months old. Specifically, these business recruitment processes’ were too cumbersome with excessive timescales and too many interview stages which results in a poor candidate experience. Several also suffered from wider company issues such as hiring freezes and changing corporate goals.
To address this issue directly, Edbury Daley conducted a survey amongst one hundred procurement professionals gauging their response to various components to a typical corporate recruitment process. Using the results as a basis for best practice, we have advised a number of clients who have been agile enough to implement a number of changes to improve their time to hire. You can see the results here. Procurement leaders who had endured multiple offers and rejections over the past six months are now getting the people they need in to the team.
The overall picture remains that the very best performers in procurement are hard to attract away from their existing employers. Post recession, businesses are more willing to provide basic salary increases and bonus payments to their best people. In addition, we are witnessing an increase in the counter offer on resignation. This last ditch attempt by the current employer is often too late to prevent the valued member of the team leaving but is a clear indication of the perceived difficulty of recruiting a high quality replacement. This trend is seen in the wider jobs market:
“our own survey indicates that three-quarters of organisations have struggled with recruitment challenges in the last year, particularly when filling skilled or niche roles” Mark Beatson, Chief Economist at the CIPD
If you would like to receive a copy of the full report please contact Simon Edbury via firstname.lastname@example.org
Edbury Daley have instigated some timely new research on the choice of recruitment and selection methods and the impact of those choices on the success rate of a getting a quality recruit in to the hiring business.
As the global economy recovers many companies are pursuing significant growth plans. Often, the key constraining factor is the ability to hire and retain the skills and expertise needed. Employer Branding and Talent Communities are becoming the new parlance of Human Resource Management as bigger corporations embrace the advent of social media to gain an advantage in finding the people they need. This is covered in some detail in a very interesting recent study by Deloitte.