I was recently reflecting on our “high fees” as commented by a client in a one-on-one interview. I pulled out the 2011 research report put out by the Talent Board entitled the Candidate Experience. In addressing the channel by which Candidate learn about job postings and companies it was clear that the following three avenues are most consistently used by companies to communicate with job seekers:
1. The Career Site is the most consistently used channel for publishing information for candidates and engaging candidates in providing information to the company.
2. Direct Calls from Recruiters remains a primary communication channel for employers. This reinforces the importance of phone skills and their importance as a function of competition for top candidates.
3. LinkedIn is the primary social media method for communicating with potential candidates.
Conversely, job seekers use the career site is the most consistently used channel for gaining information for candidates. NO OTHER communication channel was used by a majority of candidates.
So at least there is alignment on communication inbound and outbound – reflected in the use of Career Sites. This is great that career sites allow for this merging of both parties but there is a problem with this well established channel: quality vs. quantity.
The study demonstrated that 38% of the jobs received more than 100 applications (9% over 250 applications), yet 68% of the reporting companies suggested that over half are not qualified for the position. 35% feel that more than 75% of the candidates are not qualified. This is a giant gap in the way we communicate and the results created.
The major mediums of communication are career sites but the quality of the applicant pool is very poor. For any recruiter or HR manager the question is this: how long does it take to review 100+ resumes? How frustrating is it to see resumes keep coming in that are not qualified? What is the value of the time and frustration? This is where professional recruiters add value – and a lot of it. I know as well as all others that clients say our fees are too high and the spend against professional recruitment firms is too large but the value is there – in spades.
What we sell is of great value… don’t give into the discount pressure (unless long-term strategy dictates). What happens when you give an inch? You get asked for a mile and the industry values starts to falter. It is always of great concern when recruitment firms come in and undermine the value by offering $5000 searches to gain a client base. If this is the tactic then 2 things happen: first, they are not selling the value the industry offers; second, it is not sustainable under any model and it is short term gain and long-term damage. Be strategic in your value and your fees as it does not just affect you, but it affects the industry as an aggregate. Maintain the value that our services demand and remind our clients of the costs associated with our services create savings for them based on their tangible and intangible costs. After all most clients can post a position themselves on a career board, watch hundreds of resumes come in, have a 33% chance that over 75% are not qualified and the rest don’t fit the organization. Or they can invest in a recruitment service and meet just a few of the best.
Sell the value; maintain your fees and your value.
Executrade-Your Recruitment Specialists