For a long time, organisations have focused their efforts and investments on financial capital rather than their human capital. However, with a lot more studies being conducted and evidence showing the significant impact top talent has on business performance, the focus of organisations has seemed to slowly start shifting.
Knowing the value of talent for companies, there also comes a problem with it; talent is very scarce. A company needs to be outstanding in order to make scarce top talent apprised of their existence. The market is highly competitive; the more an employer understands talent’s needs and core motivations, the easier it will become to attract the exact people wanted and needed. Talent is as varied as the many job opportunities out there, so it is of utmost importance to match the right talent with the right job for long-term success. To do so, talent has to be looked at from all different perspectives such as age, gender or geographical location.
Building a strong EVP is one of the key attributes it takes to attract top talent, establishing an outstanding talent magnet position in the market, and communicating it successfully to the target audience. However most companies face limitations, especially when it comes to finding the best and brightest candidates. Therefore recruitment agencies out there can help them tap into different and broader talent pools. Recruitment needs to be a pro-active process, “employers cannot wait for the new talent to find them; they have to go out and look for it”. (Hillenbrand, 2020, p. 4)
Passive jobseekers make up a great share of talent and therefore have to be actively sourced and reached out to. There are many different possibilities on how to reach out to all the bright and different talent out there. Instead of focusing on only a few talent pools, companies should embrace diversity to fill open positions and take advantage of the effect it has on overall business success.
Recruitment agencies act as a middleman, a third party between the candidate and hiring company. Recruiters usually have a deeper talent pool than the in-house talent acquisition teams, as it is their job to have a large database with potential candidates to reach out to. They also do not wait for active applicants but put themselves out there, actively searching for talent. Hiring a recruitment agency is also time-saving, they take on the pre-screening and selection of potential candidates. It also makes the hiring process more efficient, as good recruiters act in the interest of the client and the candidate and think long-term. They know their market, what the client expects from a candidate and what the candidate will be able to deliver.
In order to attract the right talent, it is not only crucial to understand what talent wants, but also where required talent can be found and ways to make contact. Therefore, understanding the channels that are being used by jobseekers to search and apply for jobs will help to implement the right technology when reaching out to potential candidates, which will also differ from geographic location and age. Some information is more valuable than others for candidates when reading a job description. Recruiters ensure the right information is available upfront to an interview in order to increase the efficiency of the hiring process. The more transparency a candidate can get, the better he or she is able to understand what to expect from their potential future job and employer.
In conclusion, recruiters provide you with an exclusive and specific selection of top talent for your business. If you want to find out how Franklin Fitch can support your recruitment process please reach out to Carmen Hiemisch (firstname.lastname@example.org or +49 69 971 94 2913).
Source: Hillenbrand, P. “The people-first approach to business building”, McKinsey Digital, 2020, p. 4
written by Carmen Hiemisch
Ry’n ni’n ymfalchïo yn ein partneriaethau cadarn, a hynny os yn chwilio am rôl newydd o fewn Isadeiledd TG, talent i'ch tîm neu’n ystyried ymuno â Franklin Fitch. Pam ddim dechrau partneriaeth heddiw?
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