Recently an awful lot of industries are seemingly very happy to be “disrupted”; prefix them with the word tech, build an app, collect some big data, and hey presto you’ve got yourself a FinTech, FashTech, SportsTech or HealthTech start-up! But HRTech? Me neither.
Why should this be the case? Maybe it has to do with the fact that recruitment best practice involves meeting candidates face to face, shaking their hands, and looking directly into those windows to the soul, the eyes, whilst asking yourself: “what do I have here in front of me; a clerk, a manager, an MD, or none of the above?”
Call it tradition, call it an old school working methodology, recruiters have good reason to be suspicious of algorithms and analytics; it’s much more desirable to bring a candidate in and get a feel for what their strengths might be. Most recruiters like to trust their instincts; give me the job spec, put the candidates in front of me, and I will send you the right person. It sounds simple, but it isn’t. It takes years of practice; making tough decisions that affect people’s futures, and knowing when to favour one candidate over another, is, like a lot of life skills, 1 part nature to 9 parts nurture.
Like everyone else, however, your self-respecting recruiter will have to listen to the law of the jungle, however, which says: “adapt or die”. Recruiting is big business; last year total annual revenues were in excess of £28 billion, 6% higher than ever before. The industry in the UK helped more than 600,000 people find permanent jobs, whilst contract and temping jobs, surprisingly, represented 91% of total revenue. So you can see why, if only for reasons of opportunity, a data rich platform, some helpful analytics and, most importantly, the chance to pitch candidates to the best firms, is of key strategic importance.
It’s taking one of the industry’s own, however, to begin to convince his peers that signing up to a platform is the right idea. Ken Brotherston has been on the board at Robert Walters, an HR Director at Fidelity Investments, Chairman at finance recruiters Morgan McKinley, and has even dabbled in show-business at Mad Dog Casting. In other words, he understands the business he is in, and what makes recruitment work.
He knows, for example, that most recruitment firms will be small in size, no more than 10 or 20 employees, and understands that this precludes them from knowing about what the majority of hiring managers are up to; it’s never easy to get onto a Company’s preferred suppliers list. He also knows what every recruiters’ pet hate is; placing a candidate and then having to pay a large chunk of their commission to whomever gave them the opportunity to pitch to the hiring manager in the first place. Let’s say you earn 20% commission for placing a candidate with a 75k basic salary. Would you place your best candidate and sacrifice half your fee?
Here’s how TheJobPost, the Recruitment “start-up” that was in fact set up 4 years ago, works. It’s free to sign up, and there are no fees to pay should one of your candidates be hired. You only pay for the right to send a candidate across to that hiring manager. Worst case scenario, your candidate turns out to be a bum steer, doesn’t get the job, and you lose your one off fee, probably a few hundred quid. Best case, you picked a winner (of course you did, you!), and there are no fees to pay to anyone; the commission is all yours.
The marshmallow effect!
Ever heard of the one marshmallow, two marshmallow test? You ask a group of nursery school kids, would they like one marshmallow, right now, ready to eat, no questions asked, or would they prefer to wait for an hour, whereupon they will receive not one, but two of those sugar candy treats. It has supposedly been proven by psychologists that the “2 marshmallow” gang have a tendency to outperform the “1 marshmallow” crew in almost every respect over the course of their lives; jobs, marriage, earnings, personal happiness. It’s about making the tougher choice for the long term benefit.
Using TheJobPost is like a 2 marshmallow game. If you back your ability to provide great candidates for great positions, you’ll pay up front for an opportunity, realising it is short term pain for long term gain. If you don’t back yourself, you’ll take the easier option, and avoid paying up front fees, which means you will be putting your candidates up for lesser roles, and even if you do succeed, the rewards will not be as great. You pay a heavy price for overly conservative thinking in the recruitment market.
TheJobPost is a completely independent business with no direct relationship to any recruitment firm, which means they have unprecedented access to the best specialist recruiters. Registration is straightforward and every registered recruiter is on an equal footing with access to all of the jobs on the database.
The best way to find out more about TheJobPost is to attend one of their regular events, which combine public speaking and knowledge sharing with excellent networking opportunities. A chance to learn about how tech is revolutionising the industry, perhaps. Or to learn more about TheJobPost’s launch of the world’s first supplier engagement platform to offer a contract solution?
This is certainly worth hearing about; effectively it will allow any recruitment business to deliver a contract service; it uses “the cloud” to provide compliance, contract negotiations, and, significantly, short term financing. So you no longer have to worry about how you pay that super-duper contractor in the short term while you wait for the employer to deliver their monthly wages. See, techies can be useful!
What else? Well, that’s most of the bases covered. Find the best jobs, supply the best candidates, reap the rewards, get help paying the wages in the short term. Keep your commission. Pay the guys at TheJobPost a visit, (incidentally, their board membership is packed with established recruiting talent), look into their eyes (don’t look around the eyes), and that should tell you everything you need to know, right? It’s still ok to be a tech dinosaur, providing you know the right people, that is.