We’re on the brink of a job market short of candidates where the rules – originally created against a backdrop of tightened budgets and recruitment freezes – no longer apply.
It’s a supply and demand issue. During the last three years, there were more candidates than jobs on the market. Employers called the shots and could negotiate tough deals with recruitment firms for their pick of candidates.
But the time has come for employers to question whether agreements signed when budgets were tight remain effective. Is your agency still prepared to give you the best candidates available, when they could retain them for clients willing to pay for talent?
Don’t be fooled by an agency that promises 20 CVs for each vacancy – quantity is no longer the issue; it’s all about quality.
Good agencies hold the key to high-calibre professionals, who will not simply do a job, but add value to the organisation and want to stay for the long term.
Some of the key qualities needed in finance are leadership and motivation – but how do you put those on a CV? When Richard Branson was starting out, he would never have got past the first interview if he were judged on the merits of his CV alone.
Quality recruitment consultancies will interview each candidate personally, enabling them to make educated recommendations that match the candidate’s qualifications, ambitions and personality to the role available.
When you next talk with a recruitment consultancy, think about it from the candidate’s point of view. If they think they’re good, they’ll want to work with a quality, specialist recruitment consultancy. The danger with putting out a tender based on securing the cheapest quote is that it may not give you the best-quality candidates.
Finally, negotiate commercially with the consultancy and reach a good service-level agreement.
As the tables turn, employers must have a flexible approach to find talented, quality people.
Mark McMullen joins the private client services team from Smith & Williamson
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