TODAY, the economy is high-pressured and candidate driven. Filling open positions with the best possible talent is the need of the hour. As companies vie for superlative candidates, their hiring processes are undergoing a sea change.
To meet the challenges of shifting market opportunities and increased competition, more and more organisations are employing external recruiters to meet their staffing needs. A recent survey reveals that more than 51 per cent companies use executive search firms to hire employees, of which 55 per cent feel that they are well worth the steep charges.
As companies outsource their hiring process, they are relying on recruitment agencies for a wide range of positions. If the hired firm creates targeted searches and ensures the best match, it will lead to time and opportunity cost savings for the company.
Tips for successful recruiting:
The right player: Selecting the right search firm is extremely important. Staffing executives should exercise prudence, as the choice could mean the difference between an effective, efficient and rewarding recruitment or `recruiting by the front door only to pull out of the back door'.
Instead of a generalised approach, narrow down the firms by their areas of specialisation. Select one that specialises in your industry, then focus on the functions and geographies you need. As Jeff Kaye, CEO of a prominent U.S. search firm, says, `The more specialised the firm, the more its recruiters know about the industry, the companies and the labour market. With that knowledge they can ensure that they are covering the marketplace for the client'.
The placement agency should be well established and well regarded. So, try to ascertain its level of knowledge and experience through the track record of successful searches, competency, tenure and retention rate. Request a few names of successful placements to establish their accomplishments.
Ascertain that the firm is reliable, committed, customer-focussed and ethical.
Every search is different, so should be the process. The recruiting agency should not have a defined stringent search process. Instead it should be personal service-centric with the flexibility to tailor the search as per client specifications and needs.
It should be able to place candidates in all occupational groups - executive, middle management, technical and lower levels with a customised blend of different contractual agreements.
The minutiae: Successfully partnering with a search firm, calls for the following standards:
1. The contracting company should decide the type of search it requires - `contingent' for mid-level, multiple positions involving an influx of resumes and fee payment only if the candidate is hired or `retained' for urgent critical needs and executive positions with emphasis on presenting highly qualified candidates. Else, you can go in for contract searches for specific jobs or container searches - a contingent/retainer hybrid - for others.
2. Clearly spell out the expectations in a job order with a detailed description of the exact qualifications and skills needed in a prospect. As a search consultant highlights, `Specify the hierarchical and functional specifics of the open positions, including the scope and key responsibilities and the required qualifications and compensation'.
3. Agree on the timeframe, accountability, fees and payment schedules. Also, include milestones such as the first flow of candidates for review, the pre-qualifying phase and interview process.
4. Outline the communications and reporting relations to maintain an ongoing dialogue with updates about results, delays, gaps between alignment of candidate's qualifications and job specifications as well as feedback from the market about the position and its terms.
5. Staffing executives should meet with the actual team of recruiters to understand their process. Moreover, to prevent backstabbing, the company can also sign a contract preventing the search firm from recruiting your company's employees for a specific time.
The assessment
Does the recruiter fulfill his role of finding the right candidate the company needs or not? Can he successfully identify and review potential candidates for specific positions with insight into their real weaknesses? Over time, study the quality of hires, performance, contributions and promotions to evaluate its ability to attract right candidates.
Remember that some proactive recruiters also screen candidates, assess eligibility, check references and handle negotiations along with attending final interviews by the company management. Some suggest competitive offers and interview formats. To provide value to clients, they offer pragmatic and actionable recommendations for organisational development.
Companies can develop a consultative relationship with the search firm, wherein the vendor is a `trusted advisor' in not only staffing decisions but company management too!
To meet the challenges of shifting market opportunities and increased competition, more and more organisations are employing external recruiters to meet their staffing needs. A recent survey reveals that more than 51 per cent companies use executive search firms to hire employees, of which 55 per cent feel that they are well worth the steep charges.
As companies outsource their hiring process, they are relying on recruitment agencies for a wide range of positions. If the hired firm creates targeted searches and ensures the best match, it will lead to time and opportunity cost savings for the company.
Tips for successful recruiting:
The right player: Selecting the right search firm is extremely important. Staffing executives should exercise prudence, as the choice could mean the difference between an effective, efficient and rewarding recruitment or `recruiting by the front door only to pull out of the back door'.
Instead of a generalised approach, narrow down the firms by their areas of specialisation. Select one that specialises in your industry, then focus on the functions and geographies you need. As Jeff Kaye, CEO of a prominent U.S. search firm, says, `The more specialised the firm, the more its recruiters know about the industry, the companies and the labour market. With that knowledge they can ensure that they are covering the marketplace for the client'.
The placement agency should be well established and well regarded. So, try to ascertain its level of knowledge and experience through the track record of successful searches, competency, tenure and retention rate. Request a few names of successful placements to establish their accomplishments.
Ascertain that the firm is reliable, committed, customer-focussed and ethical.
Every search is different, so should be the process. The recruiting agency should not have a defined stringent search process. Instead it should be personal service-centric with the flexibility to tailor the search as per client specifications and needs.
It should be able to place candidates in all occupational groups - executive, middle management, technical and lower levels with a customised blend of different contractual agreements.
The minutiae: Successfully partnering with a search firm, calls for the following standards:
1. The contracting company should decide the type of search it requires - `contingent' for mid-level, multiple positions involving an influx of resumes and fee payment only if the candidate is hired or `retained' for urgent critical needs and executive positions with emphasis on presenting highly qualified candidates. Else, you can go in for contract searches for specific jobs or container searches - a contingent/retainer hybrid - for others.
2. Clearly spell out the expectations in a job order with a detailed description of the exact qualifications and skills needed in a prospect. As a search consultant highlights, `Specify the hierarchical and functional specifics of the open positions, including the scope and key responsibilities and the required qualifications and compensation'.
3. Agree on the timeframe, accountability, fees and payment schedules. Also, include milestones such as the first flow of candidates for review, the pre-qualifying phase and interview process.
4. Outline the communications and reporting relations to maintain an ongoing dialogue with updates about results, delays, gaps between alignment of candidate's qualifications and job specifications as well as feedback from the market about the position and its terms.
5. Staffing executives should meet with the actual team of recruiters to understand their process. Moreover, to prevent backstabbing, the company can also sign a contract preventing the search firm from recruiting your company's employees for a specific time.
The assessment
Does the recruiter fulfill his role of finding the right candidate the company needs or not? Can he successfully identify and review potential candidates for specific positions with insight into their real weaknesses? Over time, study the quality of hires, performance, contributions and promotions to evaluate its ability to attract right candidates.
Remember that some proactive recruiters also screen candidates, assess eligibility, check references and handle negotiations along with attending final interviews by the company management. Some suggest competitive offers and interview formats. To provide value to clients, they offer pragmatic and actionable recommendations for organisational development.
Companies can develop a consultative relationship with the search firm, wherein the vendor is a `trusted advisor' in not only staffing decisions but company management too!
PAYAL CHANANIA
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