Talent Acquisition is hard.
You need to find Candidates with specific skills, the right personality to fit into the environment, possess the drive and whose career aspirations align with your business and its future. It’s not easy to find ‘that candidate’ who helps your business reach its goals. To do it successfully, you need to strategize effectively.
Hiring the right talent is not a ‘one-dimensional’ activity. You need to use various channels the be successful. Companies often fail to realise the full potential of Channel Management and only implement the use of one or two channels to their advantage. From our perspective, that’s a mistake.
Effective and efficient Talent Acquisition requires managing various channels. It generates a positive impact on your brand and return on your efforts and spend.
But which channels are best to help your business find the talent it needs?
What channels do you need to consider?
At Red Executive, despite being an Agency, when we receive a new role, one of the first things we do is have a strategy meeting. This allows us to understand the best way to approach the role and yield the most positive results.
We assess the role, the potential Talent pool, the location and consider all elements required to deliver a shortlist of potential candidates, quickly and efficiently.
Channels to consider:
- Database: Is the individual potentially in our database and can we reach out to them quickly?
- Database Mailshot: Will a mailshot yield potential candidates?
- Job Boards: Does an online advertisement deliver the desired the results?
- Newspaper: Would an ‘old fashioned’ ad in the local newspaper deliver what is required?
- CV Search: Do online CV Databases have the individual you are looking for? What is the best one to consider for this role?
- Marketing: Would online advertisements or sponsored campaigns with a highly targeted audience bring the best individuals for the role?
- Social Media: Should a status update featuring the role on all your social media channels bring the right person? Do you have an ‘Employee Referral’ program to make this more powerful? Do you want the friends of employees’ and former colleagues be part of the team for this role?
- Go to people: Which of your ‘Go to’ people can help you with identifying the finest talent for this role? Could they identify people just ‘coming’ on to the market or even ‘passive’ candidates?
- Business Critical Head Hunting: Is the hire ‘business critical,’ so you need to be swift, professional and efficient, representing the ‘Employer brand’ positively? In this case, there are other factors to consider:
- Where is the role based?
- Who is the competition and how do they compare as potential employers?
- How big is the Talent pool? If small, what options do we have to make it larger?
- How should you position the business to different ‘types’ of candidates?
- Will the role need to involve a relocation?
- How can you sell your location?
- How do you alleviate issues with relocation?
- What is your interview process for this role?
What type of Agency is best for your business?
If you are recruiting internally, ‘Channel Management’ is not only limited to using the abovementioned vehicles to find Candidates. Another channel that must be considered is what ‘type’ of recruitment agency your business needs to provide the best course of action for a role.
Therefore, you need to consider the different types of agencies on the market and how they approach their talent acquisition strategies.
Head Hunting Agency
A recruitment solution that delivers a shortlist of candidates specific to your requirement, generally with a structured assessment of the candidate and a ‘long list’ to see ALL the work done in the assignment.
This type of agency should be used when you are making a ‘Business Critical’ hire and you need to be represented positively on the market, generating ‘passive’ candidates. This undoubtedly will be more expensive than your typical recruiter and you can expect to pay anywhere between 25-35%.
A recruitment firm specialising in specific industry or skill. They help find mid-level tough to find profiles. Plus, this agency can educate you to the scenario in the market.
They may seem expensive but they can identify ‘passive’ candidates and know who is considering their options on the market given their consistent networking. You can expect to pay between 20-25%.
Volume Driven Agency
An inexpensive recruitment firm that delivers the talent which is consistently required.
For example, they deliver lower-level support candidates with language requirements or junior level finance driven individuals. The service involves you receiving a CV and qualifying the candidates, so you do most of the work. However, it’s reflected in the price and you can expect to pay between 10-15%.
Acquiring the right talent requires the use of several channels. Are you utilising them all to your advantage and building a strategy around each role and department?
If not, please take our FREE Talent Audit. It will demonstrate how you can be more efficient in one of the most important components in the delivery of your goals.
This was part three in our Talent Acquisition series. Stay tuned for part 4: Avoid Interview Bias
Did you miss the other parts in our Talent Acquisition series? Check them out:
Talent Acquisition Part 1: Mistakes to avoid
Talent Acquisition Part 2: Why a junior profile shouldn’t lead talent strategy?
This post was written by Martin Collins, Founder and MD of Red Executive.