Recruiting new hires is one of the most important investments any company can make. Many companies are faced with the dilemma of having to revise their hiring budget upwards, even if there is no shortage of potential candidates that fit their desired profile. Why does this happen and how do we solve it for them?
Their existing recruiter identifies some top candidates the client would be excited about, but realizes that to get them to move jobs, they need to offer them a higher package. The recruiter backed by salary surveys and some excellent CVs upsells the candidates to the client. The client feels they have no option and agrees to up their budget, gaining some interest from expensive candidates but facing a team of existing employees who will now have to be paid more or risk them leaving.
The company is competing with other businesses targeting the same talent. Different employers have different budgets. Some can pay at the top of the salary scale, some mid-range, and some at lower-end of the pay scale
Here are two factors to consider:
1 – Where your budget stands salary-wise and where your ideal candidates currently work (i.e., where they currently are on the pay scale)
2 – Looking at your existing team, focusing on those who haven’t come from top-paying companies. Are these strong team members? If yes, then focus on finding more like them.
In other words, identify a set of target candidates that match a less obvious profile but nevertheless fit your team’s needs well and currently earn less that you are comfortable to offer.
For our clients our first objective is to find out where their budget puts them on the pay scale, followed by analysing the pay level of the candidates they wish to target – we have easy access to all the required data to do this.
We review our client’s current team members and their former employers to determine their salary level. We ensure that the candidates we identify meet the client’s requirements, then identify companies which have the talent they are looking for and for whom our client’s salary budget is attractive.
Using technology and data science we develop a long list of all candidates who:
– Would be interested in our client’s job, company, and budget.
– Potentially can do the job that they are looking to fill.
Using our automations, we reach out to all these candidates describing the job title and specifics, employer, and the package, at different stages of the conversation. If the company, job, or offer is not of interest or they are simply not in the market, they will filter themselves out.
We find that 60% simply do not respond, while 20% will respond saying they are not interested or looking. The remaining 20% will engage and ask for more information.
Our trained recruiters then schedule a detailed screening call at a time that suits both parties, allowing us to spend the necessary time with the candidate. This detailed screening is for our recruiter to determine if:
– The candidate can do the job.
– The candidate wants the job.
– The candidate will work for the budget offered.
If we get an affirmative for the above question, the recruiter will forward the candidate to our clients Account Manager, who manages the client relationship. The Account Manager further reviews the screening, notes, and CV – if they concur with the recruiter then the CV is sent to the client for review. Two out of every three CVs we submit to our clients lead to an interview – our quality is high.
Our clients receive a steady stream of high-quality candidates for the budget they are comfortable with. These individuals are more than capable of performing the job at hand, are motivated by the package, the technical environment, career advancement opportunities, and the team they will be working with. Moreover, they are passionate about the position.