The employment market has changed and continues to change. Still highly competitive, finding the right people can be a daunting task for any organisation. That’s why many companies rely on recruitment consultancies to help them find the best candidates. We provide many things, including market feedback, which isn’t always information you want to hear. But before you shoot the messenger, I encourage you to consider the feedback and advice you receive. Recruitment consultancies have their fingers on the pulse of the job market and can provide valuable insights into the availability of candidates, salary ranges, and industry trends. This feedback can help you set realistic expectations for the hiring process before you start talking to people, adjust your requirements if necessary, and ultimately find the right person for your business.
The value of market feedback in hiring
Organisations that have not recruited for a while are likely to be unaware of the current market and the key drivers. It can take some time to find the right person for a role, especially if it is a specialised position. But don’t fall into the trap of thinking that if you cannot attract people with the skills you need at the remuneration you expect to pay, it must be the fault of the recruiter. This is not always the case.
Real-life, real-time market feedback should be considered when setting expectations for the hiring process. Ignoring this honest feedback can waste time, money, and resources. When organisations have changed because they felt their consultancy wasn’t providing them with what they wanted, they ended up getting the same information, and in some cases returning later to their original recruitment partner. The crux of the issue is – it can be a tough market and people can be reluctant to move.
Some statements you may hear (even though you may not want to!):
- The remuneration package isn’t high enough compared to what other organisations are prepared to pay.
- You need to provide more flexibility in the role.
- The experience required for the role isn’t realistic compared to the money.
Take the feedback into consideration – and manage expectations.
Candidates with good skills have more input than ever before when it comes to determining the environment around leadership, flexibility, and money in a role. If you are an organisation currently recruiting, you should be aware of this and be prepared to at least consider your candidates’ expectations. If you are dealing with a recruitment consultancy, they should give you market insight to help you determine what is reasonable – as well as provide you with that sought after candidate. If in doubt, undertake your own research to validate the information you are being given to make sure it isn’t just ‘recruitment speak’.
Feedback your recruitment consultancy should provide:
- Market depth – the number of candidates available with the skills you require.
- Market breadth – the additional candidates you would have access to if you adjusted the required skills.
- Market dynamics – what is the general expectation for flexibility and other conditions from candidates? This can be particularly insightful if the organisation has not recruited for a while.
- Remuneration – there is an expectation often from candidates that they should receive the remuneration the role is advertised for, however this is when the skills offered match the role requirement.
Working with a recruitment consultancy is crucial for finding the right person and ensuring cultural alignment.
Feedback on the current market can come as a shock if little recruitment has been undertaken by your organisation. Hiring managers can also get a shock if current market feedback indicates existing staff in the organisation are underpaid. Keep in mind having unrealistic expectations can be a common mistake in hiring. The feedback you receive can help you immensely before you start speaking to candidates. It is also essential to work with a recruitment consultancy that not only provides market insight, but who also takes the time to understand your culture and values.
So, to sum up, don’t shoot the messenger. Listen to and understand what they are telling you. Market feedback provided by recruitment specialists is real-life, real-time advice that is given to help you achieve your employment goals. By listening to this feedback, you can set realistic expectations for the hiring process and find the right people for your organisation. Remember, finding a new team member with the skills, experience and behavioural attributes that align with your existing culture is essential for the success of your organisation, and sometimes, the right person may not fit your preconceived notions.
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