Executing Recruiting, Executive Search, Hiring, Uncategorized

Choosing the Proper Recruiting Model To Assist Your Company with Hiring

Choosing the proper recruiting model to work with your company is not an easy task. Many companies feel that all recruiting models are the same; when in fact there are vast differences. Let’s start with an explanation of the two most common recruiting models:

Contingency Recruiting
This is the model that most companies know about and use. Many companies feel that it is the only recruiting model available. Contingency recruiters represent the candidate and will submit the same candidate to a number of companies in hopes of placing this candidate anywhere. The contingency recruiter is paid his/her fee (generally 25% of the candidate’s annual base salary) ONLY if the candidate is placed at a particular company. The downside to this recruiting model is that contingency recruiters are basically in a race to “flip” candidates over to as many companies as they can. The recruiter’s interest lies with the candidate, and he/she does not have the company’s best interest in mind. Many companies use multiple contingency recruiters at the same time which only serves to compound the problem.

In my opinion, contingency recruiting has a very low level service level, and statistics have shown that candidate attrition rate is high because the contingency recruiter is only interested in the placement and not the best fit for the company.

Retained Recruiting
The cost of using the retained recruiting model is the same as contingency recruiting (generally 25% of the candidate’s annual base salary), but, in my opinion, offers a much higher level of service and customer satisfaction. In a retained recruiting model, the client company “engages” the services of the retained recruiting firm by paying an upfront retainer to the firm to begin the search (generally 1/3 of the total fee with the balance of the fee (2/3) due upon the placement of the candidate). The retained recruiting firm will sit down with the company and do a through analysis of the position’s requirements and also understand your company’s culture. By doing this, the retained recruiting firm can offer a much better level of service to both the candidates and client company. This is because the recruiter is ONLY representing the company. In most cases, a good retained recruiter will tell you NOT to hire a certain candidate because of a poor cultural fit with client. I doubt very much if that ever happens with a contingency recruiting firm. A good retained recruiting organization will serve you as a “recruiting partner” and not just as a vendor, looking out for your company’s best interests and also representing your company well in the recruiting marketplace (an important feature to have).

Statistics have also shown that candidates placed via a retained recruiting model have a much higher retention rate versus the contingency model. In addition, the satisfaction level with both the candidates and the client company are higher in a retained model than with a contingency model.

If the retained recruiting model is appealing, interview several firms to learn more about their capabilities and experiences. Since it will serve you best to have one retained recruiting firm to be your “recruiting partner”, it is important for you to make sure that there is chemistry with that firm. Remember, this firm will be an extension of your company and will be representing you in the recruiting marketplace.

Partnering with the proper retained recruiting firm will not only lower your overall recruiting costs but will also result in a much higher quality of candidate with an overall better retention rate.

Author
Mike Sweeny
Principal & Founder

MAS Recruiting
 
As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.
We have a national list of clients.  Our client list includes emerging growth up to Fortune 500 companies.  We have strong recruiting experience in a multitude of industry verticals including: 
  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring, Uncategorized

Winning Recruiting Strategies For A Tight Job Market

For those of you in the “trenches” of daily recruiting, it is pretty obvious that the job market has become very tight for many positions; especially many technical roles. Gone are the days from a couple of years ago when a company could just run an Internet ad for a position and get several great candidates who applied. This was the case, but not in this market. Candidates have or are gaining the advantage in the market.

Companies are under pressure to fill business-critical roles. With the market beginning to closely resemble the tight job talent conditions of the late 1990s, company are having to shift their recruiting strategies to match what was being done during that period. Here are some of those winning strategies that companies are employing:

Create Attractive Work Conditions
Believe or not, a higher salary is probably 3rd or 4th on the list as to why a candidate will want to leave their current employer. The main attraction to leave tends to be to move to a new employer with more attractive work conditions: These could include:

  • Exciting projects or products to work on
  • Flexible work schedule or the ability to telecommute/work from home office
  • Regular company events such as lunches, happy hours, etc.
  • Prompt and Streamlined Hiring Process

As the job market continues to pick up steam, candidates are finding that they are getting a lot more calls from recruiters either from cold calls or in response to resumes submitted to ads. Companies that react quickly to get the candidates into their hiring process are generally the ones that are making the hires. A general rule of thumb is respond back to candidates within 48 hours of the resume submission. If there is interest in the candidate, scheduling a phone and/or onsite interview within a week is what is needed to move the process along.

Competitive Salary Offers
Because great candidates are so much in demand in today’s job market, the hiring companies need to be sure that they are putting forth very competitive salary offers. Because salaries of current employees may have been held down over the last few years because of economic conditions, you may want to consider sign-on bonuses to new hires as a way of keeping your salary structure in balance.

Author
Mike Sweeny
Principal & Founder
MAS Recruiting
www.masrecruiting.com

As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.

We have a national list of clients. Our client list includes emerging growth up to Fortune 500 companies. We have strong recruiting experience in a multitude of industry verticals including:

  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring, Uncategorized

Recruiting Strategies To Assist in Filling Hard-To-Find Technical Positions

Anyone who has been hiring recently knows that it is becoming tougher and tougher to find good candidates for tough-to-fill technical positions. Examples of these position are found in Information Technology, Software Engineering, as well as other disciplines.

We’re in a tightening labor market where the candidates, not the companies, are beginning to get the upper hand. It’s happening slowly but surely and, with the economy improving, it is only going to get worse. I see recruiters struggling because companies don’t yet recognize this shift in the market. The mindset of hiring managers is still to ask recruiters to provide multiple candidates who met their “must have” criteria (usually a length list).

The problem is the “perfect” candidates are not easily available in today’s market. Most candidates who are seeking employment are not necessarily the ones companies want. Companies who will be successful in today’s job market will be the ones that change their recruiting strategies.

I have listed some strategies below which companies can execute to be successful:

Loosen Up on Hiring Criteria
Forget the long list of “must have” criteria for the qualified candidate. Hiring managers have to determine what skills are absolutely “must haves” versus “nice to haves.” Consider the cost to the company of having a position unfilled for many months by waiting for a candidate who meets ALL of the criteria versus hiring a candidate who meets MOST of the criteria and would come up to speed quickly on the remaining.

Think “Out-of-Box”
In a tightening labor market, it’s time to think outside of the box. While the ideal candidate may come from the same industry, an excellent candidate may also come from a related industry. Consider someone who has the same skill set you need, and has demonstrated success with those skills, but in another industry. You can train a new hire so that he understands the intricacies of your industry. A person who wants to break into your industry will often work that much harder to get up to speed. In fact, he or she may be a superior choice to the candidate who works for the competition, but is just an average worker.

Position Your Company as an Employer of Choice
Since this is beginning to become an “employee’s market,” companies need to do a better job of selling themselves to candidates. Examine your salary and benefits package. Is it competitive? Does it meet or exceed the industry standard? Consider changing or updating your policies to be as attractive as possible. Remember that money is not always the reason a candidate takes a job. Talk up your company’s vision, technology, and culture.

Become More Creative in Sourcing Employees
It is time to be a little more creative in how you recruit employees. If you don’t already have one in place, start an employee referral program. Employees are often your best recruiters, and can be quite motivated when there’s a financial reward for successful matches. Create a buzz about your company in other ways. Try Internet chat boards, recruiting functions, industry meetings and more. If there’s a venue where potential candidates gather, you want to be front and center.

Author
Mike Sweeny
Principal & Founder
MAS Recruiting
www.masrecruiting.com

As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.

We have a national list of clients. Our client list includes emerging growth up to Fortune 500 companies. We have strong recruiting experience in a multitude of industry verticals including:

  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring

How To Attract The Best Talent To Your Company

The key to success in attracting top talent is to make your company an employer of choice. A company must set itself up as a solid, well-organized enterprise and create compelling reasons for top-notch professionals to work there. Those reasons can include excellent compensation and benefits, advancement opportunities, regularly scheduled performance reviews, and other popular perks such as flextime.

Finding the top talent is often a difficult task. Most often, these individuals are not actively seeking new employment. That means companies have to dig deeper to find the top 5 percent. Direct hiring from primary competitors is a company’s best strategy. This involves sophisticated networking and sales ability.

One networking tactic is to determine which of your current employees have already come to you from key competitors. Ask them whom they would recommend hiring from those competitors. Even if a top candidate is ultimately not interested in your position, he or she may be able to refer someone else.

Typically, companies don’t part with top talent. This talent is often well compensated, which makes the stakes higher. In addition, a company will fight to keep them. Therefore, you must be able to offer something that their current employer doesn’t satisfy, such as a new technology or–best of all–a compelling company vision.

Author
Mike Sweeny
Principal & Founder
MAS Recruiting
www.masrecruiting.com

As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.

We have a national list of clients. Our client list includes emerging growth up to Fortune 500 companies. We have strong recruiting experience in a multitude of industry verticals including:

  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring, Uncategorized

Communication With Candidates

Throughout my years in recruiting, I have always strived to communicate well with my candidates. I know that this has been appreciated, because I have received many compliments from various candidates who appreciate me keeping them in the loop as to where things stand with a certain position.

My philosophy is simple: I look at candidates as an “asset” and someone that I want to build a relationship with. I know that candidates realize that I am just the conduit between them and the company and that the company makes the final determination on how they want to hire. However, my goal is to keep the candidates as informed as possible. If I cannot help them with this particular job; it is possible that I can help them in the future (even years down the road). With technology the way it is today, it is pretty simple to stay in touch with candidates if you want to make the effort and value the relationship.

Excellent communication with candidates not only builds goodwill with your candidate base, but it also serves to build your brand. Hopefully, this will stay in the mind of a candidate if you ever reach out to them in the future.

Author
Mike Sweeny
Principal & Founder
MAS Recruiting
www.masrecruiting.com

As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.

We have a national list of clients. Our client list includes emerging growth up to Fortune 500 companies. We have strong recruiting experience in a multitude of industry verticals including:

  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring

Advice To Companies Having Problems Filling Certain Positions

I have seen a lot of companies over the last several years struggle to fill certain positions. Most of these positions tend to be either Information Technology or Engineering related.  With the unemployment rate nearing what the government refers to a “full employment”, it is understandable why filling certain jobs has become a real challenge.

Rather than sit back and hope that the perfect candidate falls into your lap, companies need to look at their sourcing and recruiting methods and processes and determine what needs to change.

1. Are we too strict with our job requirements?

I see this as the main culprit to not filling jobs. Many companies have job descriptions that have requirements that are way too restrictive. Rather than have 7 or 8 MUST have requirements that must be satisfied, re-look at the requirements to see if any of the MUST haves can be converted to NICE TO HAVE.  With a certain amount of training, you could get new hires to the level that you seek.

2. Can we be more flexible with the role?

Many companies today still do not offer employees some work from home flexibility or the ability to perform a role remotely. There is very little cost or downside to offering this flexibility and not having it, puts your company at a major disadvantage to those companies who do offer such flexibility.  Offering this option will also great increase the pool of potential candidates for your roles.

3. Are our salaries competitive?

Because of the slow economic conditions over the last 8 or so years, companies have offered current employees very minimal annual raises.  When they get to the point of hiring again, they are quite shocked to see what certain hard-to-fill roles command in today’s market.  These companies struggle to come up with competitive offers because of concerns with internal equity.  In order to attract star candidates, companies are going to have to make very compelling offers or risk losing the candidates to another companies.

4. Are our benefits competitive?

While base salary and bonus potential seem to be the key components in any job offer, having a competitive benefits package is a close second in priority.  Having a benefits package that is both comprehensive and priced well are very important to landing star candidates.  One area where I see companies struggle is offering competitive vacation or PTO levels to experienced candidates.  It is not realistic to expect an experienced candidate to drop from 3 or 4 weeks vacation back to 2 years vacation.  Companies need to make these candidates “whole” in order to be competitive in today’s employment market.

5. Is our interview process too cumbersome?

In a softer job market, companies could take their time with the hiring process.  This would include multiple phone or onsite interviews as well as extended time between these interviews.  Ina a soft job market, candidates do not have many options and, thus, are compelled to wait.  As the job market heats up, the opportunities for candidates increases, and therefore, companies must speed up the timing of their hiring process in order to capture the star candidates.  Remember, everyone is looking to hire stars, and stars don’t stay on the market very long!

Hopefully, these points will help your company make the changes necessary to improve your hiring rate and fill more jobs.

Author
Mike Sweeny
Principal & Founder
MAS Recruiting
www.masrecruiting.com

As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.

We have a national list of clients. Our client list includes emerging growth up to Fortune 500 companies. We have strong recruiting experience in a multitude of industry verticals including:

  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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Executing Recruiting, Executive Search, Hiring, Uncategorized

Should I Pay Someone To Help Me Find My Next Job?

I get asked by candidates quite often if they can pay me to help them find their next job. I tell those candidates that 99% of recruiters (including myself) are paid by the client when we make a placement. Companies come to a specific recruiter and engage his or her services to recruit specific talent to fill specific roles. Generally, recruiters do not work as “talent agents” to represent individual candidates to “shop” them around to various companies. I will never accept money from a candidate in order to help them find a role. I don’t feel that it is morally right to do this.

However, there are firms out there that will charge candidates really good money to represent them in their job search. Under the guise of “Career Counseling”, these firms will help candidates put together a resume, coach them on how to interview, and then tell the candidates that they will market their resume to various companies and recruiters. There is a substantial fee for all this so-called service. In addition, these firms generally get the candidates to sign an agreement that the candidate will owe a certain additional fee to the Career Counseling company if the candidate finds a job, whether the Career Counseling firm helps makes the placement or not.

There is something wrong about this business model where you lead the candidate on to think that your firm will open up doors for them and never do.

My advice to candidates is NEVER pay anyone to help you find your next job. It may be OK to pay someone a small fee to assist you to prepare and/or update your resume, but most recruiters that I know, will give advice to candidates for free. In addition, there are a lot of free templates online that a candidate can use to prepare their resume.

Author

Mike Sweeny
Principal & Founder

MAS Recruiting

www.masrecruiting.com

 
As a Philadelphia area based Executive Search and Recruiting firm, MAS Recruiting offers clients a strong level of recruiting expertise and an unprecedented level of service not received from larger firms.
We have a national list of clients.  Our client list includes emerging growth up to Fortune 500 companies.  We have strong recruiting experience in a multitude of industry verticals including:
  • Advanced Materials
  • Business Consulting
  • Clean-Tech & Energy
  • e-Commerce
  • Financial Services
  • Food & Beverage
  • Healthcare
  • Retail
  • Software
  • Technology
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