Why A Quality Focus To Recruitment Makes A Difference
One of our key clients is a rapidly growing Spend Management Company that is gaining market share because of the quality of both its product and its people.
It recognises that to attract the best talent and to retain its staff it has to give them exciting career paths, and needs to send a clear message to the market place so that talented individuals understand the opportunities they can provide.
They understand the value that we can bring by acting as their ‘ambassadors’ in the market and the value we add by both Talent Identification and also by how we present a consistent and compelling message about their business.
They have invested considerable time with us to jointly build the relationship so that we fully understand their business and the skills and attributes they require and the kinds of opportunities they offer. They recognise that they need an external partner who can sell their brand and position them well and not just source CV’s. They need a business that really understands a very competitive candidate marketplace.
How Does This Approach Make A Difference?
For one Senior Consultant role we had two offers rejected – one was very aggressively counter offered by their current employer and the other candidate was offered £10k more basic salary elsewhere.
We realised that market conditions may have changed so we undertook some salary benchmarking research on their behalf.
It is easy and all too common for recruiters to drive salary increases and to claim that a client needs to raise their pay bands – we will always advise a client based on real data so that they can make an informed decision.
In this situation based on our research and a full open discussion with the client they reviewed and raised their basic salaries and with them we refined the message we took to the market – the role has now successfully been filled as a result.
Based on this success this approach was adopted further and we have since successfully filled a number of other roles and have candidates in reserve for future appointments such as:
- Account Manager
- Pre- Sales Director
- Senior Analyst
We are currently working on four more roles for this client
It is clearly a success story for us and the client. It proves that even when facing incredibly competitive market conditions because we work together and they trust our advice we have some superb recruitment success and have together driven and produced market leading KPI’s
- Our interview to offer rate this year of 75%.
- Our interview to appointment rate this year is 50%
- Our interview to appointment rate since our client realigned their salary bands using our research is 80%
The Lesson Learnt?
If your organisation achieved these levels of performance in your recruitment process how much time and money would be saved?
Yes we usually cost more than those rates typically quoted on many PSL’s but our value and advice on key issues like process, salary, availability of relevant skills and market conditions makes a significant difference to the actual cost.
Equally our expertise is understood and recognised by candidates and this allows us to influence and persuade the best people to consider leaving their current jobs to join a new team when others may not. Detailed sector knowledge is critical, particularly in a job market like procurement technology.
Ultimately to save time and money and to add real value, you must invest time together with a business that knows the market. We seek to understand your recruitment challenges and give credible advice so that we can deliver candidates that fit your brief.
So ask yourself this, do you want a low price/high volume option for your recruitment or do you want value and a source of competitive advantage?
If it’s the latter, I look forward to hearing from you.
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/
The UK Spend Management sector is enjoying strong market conditions with several key players experiencing significant growth.
In terms of human resource, there are a finite pool of people with experience in a rapidly growing sector. This equation means there is a shortage of suitable talent that is only going to become more acute as the market continues to grow.
At Edbury Daley we have had a clear focus on the sector for several years now dating back to our first work with an established market leader in 2007. Our network of contacts spans all the key players in the sector and we know where the best people are.
We also know which people might consider new roles, and which organisations are at risk of losing some of their best people due to market factors like salary increases, under investment in the product etc.
In a marketplace which is characterised by this skills shortage, growing organisations need a recruitment strategy that can help give them competitive advantage.
We strongly believe that our portfolio of services can be a major factor in delivering that competitive advantage to the companies that we work closely with.
We offer several different recruitment services for both interim and full time roles, a bespoke salary benchmarking service for the procurement technology market and an advisory service which focuses on improving talent attraction strategies.
If your business needs to address how they hire the best available people, we have the experience and market knowledge to make a difference.
Here are some examples of the appointments we’ve made so far this year in competitive market conditions:
Senior Sales Manager – e marketplace & analytics provider
Managing Consultant, Coupa/Ariba implementations – big four Consultancy
Senior Consultant, SAP Implementation – big four Consultancy
Senior Consultant, P2P Transformation – niche consultancy
Senior Consultant – e Sourcing suite provider
If you would like a more in depth view of the market, whether it be for a discussion about recruiting into your team or with regard to your own personal career choices, please contact Andrew Daley on 0161 924 2385.
This article was published on http://spendmatters.com/uk/ on 3rd December.
We are delighted to bring you the second part of a first-hand look into The Chasm Separating Companies from Good Candidates from Peter Brophy at Edbury Daley. Yesterday he talked about expectations of new roles or new recruits.
How we treat people through the recruitment process
In recent years many organisations have invested heavily in creating talent pools or have used agencies to source ‘difficult to find’ candidates at short notice but rarely then consider what happens once the candidate has been approached and enters the ‘assessment phase.’
In the current market many candidates complain of roles not materialising or long delays in the process and often question whether a role was real in the first place or was a benchmarking exercise against existing internal candidates.
Candidates’ perception of an organisation’s brand is often negatively impacted by their recruitment experience. To understand, Edbury Daley has recently instigated some timely research to investigate this by gaining feedback from candidates to a ‘typical’ corporate recruitment process – you can see the survey here. Once this research is complete we will publish and share it, so watch out for a further post.
The negative impact on your brand perception caused by poor processes or lack of feedback or poor communication should not be underestimated; candidates are potential clients or customers. They also talk to each other about their experiences so word gets around the market.
The challenge is that often recruitment has been re-organised during the recession to focus on transactional metrics such as time to hire and cost per hire to fill headcount slots quickly rather than consider the value that securing a better candidate could bring or the cost of getting it wrong (both hard to measure).
Now as the market improves good candidates are actively choosing roles based on their recruitment experience as much as the role itself or the organisation. To many candidates, their actual experience quite correctly is of the organisation in reality, in action, and laid bare, rather than the generic snappy careers site’s words about engagement, opportunities and being a great place to work.
As a job hunter myself earlier in the year I often found that the standard of service and communication from organisations was often poor and sporadic. It made me wonder what the reality is for many candidates at more junior levels?
The following are some personal examples I experienced:
- An organisation took so long to recruit for a maternity cover role that in the end it wasn’t worth bringing someone in
- Arriving for an 8am meeting to be told ‘something urgent’ had cropped up and only being able to meet with a more junior person. I could see the person in the office sat at their desk reading something. What annoyed me was not that this happened because these things do happen but if someone has put themselves out treat them with some respect. For me 30 seconds to say sorry and I would have been happy or at least understood. I didn’t go back.
- Think carefully about who interviews and how prepared they are. I was interviewed on many occasions by more junior people or by people who weren’t prepared, so they didn’t know what to ask or fully understand the context. For some of the junior people I could have made it up as I went along whereas a more capable interviewer would spot any inconsistencies.
- Lack of feedback – often poor and incomplete and I had to chase and chase on many occasions. If a candidate has taken half day to travel is it acceptable to be told very little specific feedback? If given the right feedback in full they are more likely to advocate your organisation to their network.
Many of these may only be small things but they add up, and if a candidate has no other option your process may still secure them, but increasingly you need the process to be quick, professional and to sell the organisation as well as let the candidate meet some key people.
As reported in our recent Quarterly Market Update the market is improving and good candidates are becoming increasingly harder to attract and hire so this is becoming increasingly critical for organisations to get right.
Your recruitment process needs to be well organised and to consider the candidates if you wish to source the best candidates and to ensure that those unsuccessful feel they have been fairly considered, met some good people who sold the organisation well and that they got some good feedback. –
See more at: http://spendmatters.com/uk/clarity-and-expectations-in-recruitment-part-2/#sthash.jrmZL4ot.dpuf