Best Reward Talent at the Time VS. Best Reward Talent in the Market

Reward CandidatesWe’ve all been there, whether you’re an internal/external recruiter or a hiring manager, these questions always rise to the surface during an interview process:

  • Can you find more candidates to use as a benchmark against the candidates we’ve already interviewed at final stage ?
  • Will we attract better talent if we advertise the job again ?
  • Are we seeing the best Talent in the market ?
  • Do we need to pause the interview process and wait for the market to refresh so we can tick all of the boxes ?

The talent market moves incredibly quickly and week by week there are always new candidates making themselves available for conversations, which is great, but when do you put an end to this cycle of always thinking or hoping there’s a better candidate around the next corner?

When we’re comparing the best talent in the market against the best talent available now, it depends entirely on the client’s Resourcing Plan. If the business has the ability to produce a 12 month Resourcing Plan, which allows them to engage with a supplier in advance of the hire needing to be made, then this type of timeline will lend itself to providing the best talent in the market or industry. If the business engages a supplier at the eleventh hour, when the interview process is already in full swing or when the hire needs to be made urgently (just to see if there is anyone else worth throwing in the mix), it will limit your supplier to time constraints and prevent them focussing on the best talent as a whole. It becomes more about the best available talent now.

If I look at my past and current client relationships I can say with absolute confidence that the best outcomes are generated from engaging as early as possible in the process. Before pressing the ‘GO’ button on the hiring process it’s key to identify commitment from both sides, for me the best way to achieve everyone’s desired outcome is:

  • Engage with one partner
  • Start engaging as early as possible
  • Don’t advertise directly first (unless you’re very confident that you have the network)
  • Agree an engagement fee (to be paid upfront) so that both parties are committed to the process
  • Allow the external partner to be an extension of your business
  • Set out and agree timelines on interviews and feedback at the start
  • Take on board the advice your external partner is giving (if you don’t believe your recruitment partner is credible – don’t use them).

A little more insight, coupled with involving your external partner from the initial talent mapping phase will ensure value add by giving them time to engage with the best talent out there.

Marc Gulliver

Written by , Head of Practice - Reward

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