Recruitment budgets of companies are increasing rapidly. According to Forbes, Businesses around the world spend $3,300 per hire on recruiting and this budget has increased by almost 6% in the last year. This means that US based companies spend nearly $72 billion each year on a variety of recruiting services, staff and products- and the worldwide number is three times bigger.
Organisation loses precious time and resources in identifying the right candidates. The best and the brightest candidates are beyond the reach of ordinary recruiters. Recruiters are drowned in the vicious cycle of numbers, time lines and competition. Often deadlines make recruiters CV peddlers, settling for the mediocre. The mediocre present themselves as gold and demand their pound of flesh. Urgency drives employers also to make do with the mediocrity!
In such a situation where time is of essence, how can a recruiter still mine gold and present the best.
Gold is passive, inert, has to be mined.
A recruiter has to work with stakeholders, the client as well as candidates with a long term perspective.Work with clients to identify requirements long before the position becomes available. The recruiter needs to get involved at the project planning stage and be in continuous dialogue with the hiring manager. This provides time to the recruiter to start exploring every possible channel to search for the best. Building close business relationship with the clients, engaging with them right from the project planning phase, understanding the culture are some of the ways to maximise value addition and provide the most suitable candidate.
The presence of the recruiter at the table cannot happen if the relationship is transactional. It has to be ‘strategic partnering’ which requires investment of time and energy.Only providing continuous value will carry the recruiter to the table!
Good candidates are fully absorbed in their assignments, contributing and impacting their organisations. They are not busy framing their CVs on every job portal and renewing them periodically. The best, do not make a hasty decision of changing jobs over an email or phone call. Identifying or literally mining them is a challenge. Truly engaging them is a bigger challenge.
In recent times search for passive candidates has become the trend of recruitment industry. Engaging candidates in social media platform is a prevalent practice but there is lot of scope for creativity & improvement. Understanding the psyche of candidates is critical to recommend the right opportunities. It is a gradual process which takes lot of time, for some people it takes months and for some, years.
The recruiter has to develop long term relationships with the candidate as well as the clients. Every interaction should, therefore, be seen as an opportunity for investment. How such investments are done is what separates wheat from the chaff. Great leaders are passionate about their people and resources. They know what makes each team member tick, what assignment is to be given to whom to get the best.
Do recruiters manage their resources with the same alacrity? How many candidates do you know, which is not like being connected on social-media? When was the last that one of your candidate’s spoke to you about their career plan? When did you last meet the top 10 percentile candidates in each domain that you cater to? When did you last speak to your client about a candidate without an open position in-mind?
Candidates belong to diverse backgrounds both in terms of culture, demography, competencies and temperament. What should be the ideal strategy to engage with the top, but, passive job seekers? Relationships are not built with a phone call, these have to be nurtured over months and years.The frequency and manner of keeping the “connect” is key. This is a blind spot. There is no straight jacket approach. The creativity of the recruiter is the key! Of course, if you have a tool like Expert Hiring, it will help you to scale. If you are interested in knowing more about this tool, then please write to me at firstname.lastname@example.org
Go for gold! Happy Passive Candidate Hunting!!