Eggs, butter, maple syrup. These are among the staples that are taking a bite out of Americans’ budgets.
While inflation slowed to 6.5% in December, down from 7.1% a month earlier, consumers are still feeling the pinch at the grocery store, restaurants and car repair shops.
Businesses are also feeling the effects of rising costs in a number of key areas, including recruiting. That presents a problem: filling critical positions in a tight labor market while managing dwindling budgets.
Fortunately for hiring managers, there is a solution. It’s called Recruitment Research.
An offshoot of the executive search industry, Recruitment Research is a multistep methodology that targets desired candidates and connects them with employers using a flexible pricing model. By unbundling tasks, hiring leaders can determine what tasks they can handle and which ones are best managed by their recruiting partners.
But the best recruiting isn’t just about hiring people. Recruitment Research helps clients build more effective teams, identify the leader prepared for today’s challenges and tomorrow’s opportunities, and reconfigure groups to advance an organization’s mission or achieve a specific goal.
In short, Recruitment Research equips hiring leaders to identify and hire the right people, respond to immediate hiring needs while building a pipeline of talent, uncover data and insights to inform hiring decisions, and save as much as 50% off traditional hiring fees.
The three e’s
Recruitment Research is as much of an art as a science, but the rewards are evident in the form of qualified candidates who can hit the ground running on their first day on the job.
The difference is best summed up with three e’s. Recruitment Research is efficient, effective and economical.
A model of efficiency — doing things right
Recruitment Research begins with an in-depth assessment of an organization’s corporate culture and personality, job requirements and responsibilities, and hiring issues.
This assessment helps uncover common stumbling blocks to hiring, including:
- Lack of branding in a new region or market data on prospective workers for salary negotiations;
- Little or no access to industry association networks;
- The urgency to fill multiple positions in multiple locations;
- Lack of diversity, particularly in management roles:
- Little or no data on the “going rate” on salaries and benefits:
Unearthing hidden talent through Recruitment Research involves strategic planning and a mix of cold-calling, Internet outreach and other practices. After all, the best candidates are not necessarily reading job boards or employment ads. In fact, they may not be actively looking for a career move at all.
A model of effectiveness — doing the right things
Another hallmark of Recruitment Research is effectively working with a client’s unique preferences or restrictions on name generation, screening, vetting and short-listing prospects. This requires a thoughtful, “out-of-the-box” approach that takes time and creativity.
One of our faith based nonprofit clients wanted to interview only qualified CEO candidates who were practicing Catholics, which significantly narrowed the applicant pool. Another, a seller of equine products, sought out potential sales candidates with three specific skill sets: the ability to connect with customers and sell products; knowledge of complex pharmaceutical products; and the ability to “speak horse.”
A model of economy
Many of our clients previously employed more traditional recruiting approaches that come with hefty retainer or contingency fees tied to a successful candidate’s salary.
Research Recruitment uses a scalable, cost-effective model requiring front-end research, creative strategizing and solid reporting of market data that clients can use now and well into the future. The bottom line: this process can save clients up to half of traditional recruitment fees.
Highly skilled employees whose personality, work ethic and passion fit with an organization’s corporate culture can give them a competitive edge. But finding them in a competitive search for talent and with budget restraints may seem all but impossible. In such instances, a different approach to recruitment – one that is efficient, effective and economical – may be in order.