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Article
One: Peer Regression Analysis By: Shally Steckerl and Rob McIntosh of Microsoft Central Sourcing
Since writing this article Shally has left Microsoft to devote himself full time to
JobMachine, Inc
(www.jobmachine.net) the
"premier provider of sourcing consulting services and research
training". Whilst most articles we publish are written from or for the agency viewpoint this one is written from the perspective of an employer.
Recruiting for high impact roles in markets where there is already distress about the shrinking talent supply is only going to become more difficult as our economy strengthens. While it’s well known that there is a diminishing supply of talent in many industries, effects like the “brain drain,” retiring Baby Boomers, and professional disciplines suffering from declining collegiate enrollments, will only aggravate the problem. Successful organizations will need to devise and implement forward thinking plans not only to counteract the effect, but also to gain a competitive advantage.
One such strategy is Peer Regression Analysis (PRA). PRA methodology is highly effective in recruiting for roles where reaching passive candidates is key, and finding new or previously untapped talent pools is critical. PRA begins with top performers and industry luminaries, or well-known figures. Sometimes the starting point is a top candidate that "got away" or a recent high impact hire. Sometimes it is internal employees, sometimes just really good people who we haven't yet been able to recruit. This “ideal candidate” can form the starting point where we begin our regression. Borrowing loosely from economic regression, peer regression is about tracking down and isolating influences. We search for connections or clues pointing to a luminary figure until we find the point in time where they either became prominent or were recognized as such. Then we look for people who they influenced, inspired, motivated, coached or who in turn influenced them. This is the part of the analysis where we try to isolate the affecters or influences. Typically, this reveals people, who would be strong hires but are not very visible, leaving little trace and therefore not usually contacted by mainstream recruiters.
We also look at people who turned us down in the past, or who interviewed, but were not selected for that role at that particular time. They may be a much stronger candidate now for a particular position, or they may be a better fit for a different position better aligned with their experience. Interviews and offers fall apart for many reasons. Occasionally we reach out to ex-employees, although in that instance, strict rules must be followed to comply with any company policies. Yet another example is identifying people who worked on a specific product, project, or team in the past and have the appropriate expertise to drive current company initiatives. If those individuals were key players at the time, chances are that wherever they are today, they are of equal or increased influence. Identifying their current location often leads to new talent pools or other previously untapped sources of leads. Sometimes these individuals come from rapidly emerging, but still relatively unknown companies. By reaching that talent first, it enables us to gain an edge over competitors fighting for similar talent from much more visible sources.
This is revolutionary because through peer regression we gain entry into the comparatively unexploited talent markets. Most of the research is conducted using numerous Internet methodologies, but some is done via ethical telephone adhering to the SCIP.org code. Chief among our methods are search engine queries and tactics that take full advantage of advanced search engine syntax. We also use online databases, social networking tools, etc. Overall, we track about 230 different sources of information and discover new ones every day. We don't always find exactly who influenced whom, but we can make respectable educated guesses. For example, sometimes we find a specific professor who taught a class and ten of the students in that class ended up being very influential in their industry. Call it timing, or good preparation, but regardless of the reasons, for the connection between those successful people, the clue is hard to ignore. Sometimes the best we can do is look at who their colleagues were at the time and that's good enough. Luminaries aren't always well defined. What we are looking for is someone who did something innovative that changed or greatly affected the industry, broke a paradigm or created a new market.
There are many challenges with this type of search. It is time consuming, delicate work with no guaranteed results. Organizations need to be prepared to invest time and resources into tapping this hidden supply of talent, but most companies today remain skeptical about the cost-to-benefit ratio. As the talent market continues to shrink, however, this methodology will gain acceptance. Another major source of frustration, even if an organization does recognize the value of investing in peer regression analysis, is that not all recruiters or hiring managers know how to handle or what to do with a truly passive candidate generated this way. Hiring managers must be educated on how to approach, handle, sell and romance such candidates. A strong process and communication plan needs to be in place to support such strategic efforts to ensure maximum traction and results. Leveraging existing employees and leadership is critical, but more importantly, no single department should be entirely responsible for this process. A culture and environment must be created in which this process naturally flows from the business to research teams and back again. Instead of reacting to projects as the need arises, this process must be a constant building of proactive pipelines of passive candidates. Without support from the business, knowing how to handle these candidates, and keeping the pipeline growing, the handful of candidates produced will “wither on the vine”.
This strategy becomes world class and revolutionary because it ties into headcount planning and forecasting. Operating on “instant demand” projects is nearsighted and limiting. The further into the future an organization can implement this process, the more revolutionary it becomes. Additionally, a PRA talent acquisition strategy must be aligned with those long-term business goals. Imagine an organization capable of developing pipelines encompassing the top one percent of talent well into the next five years of forecasted investments and career direction? Recruiting would no longer be limited to “who you can bring us today,” but instead “who you can bring us tomorrow, that will have a sizeable impact on our long-term strategy.” Top global companies sometimes think this way at the most senior level, but visionaries don’t just come in C and V sizes. They can start early with the company as individual contributors, team leaders, managers or directors, and grow into roles where they make big waves. What if instead of an occasional accident, this was a planned strategy?
Shally Steckerl is a talent acquisition strategist, speaker, and recruitment consultant originally from Colombia, South America. He currently manages the Research arm of Microsoft's Centralized Recruitment Research team. Because of his passion for the Internet as a recruitment tool and his continually innovative
methods he has developed a reputation as an authority in Internet search, and a pioneer in recruitment intelligence.
http://www.jobmachine.net/shally
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Article
Two: Building a Great Temporary Desk by Gaynor Lowndes
Following on from my article in issue
285, this time I’ll share the secrets to success for high billing temporary consultants. I have focused for the purposes of this article on a white collar temporary desk, however the points made are relevant for any type of desk.
1. Successful temp consultants measure their
statistics. The old adage of you can’t fix what you can’t measure stands true. My belief is and always has been that key performance indicators are in place to help me be successful. If you don’t complete KPI reports for your manager, then create your own. You should be tracking the following:
Dials to Connects - if this one blows out, you probably need to address getting past the gatekeeper or revisit your prospect list to ascertain if the account is really worth your time chasing.
Connects to Visits - if you are getting through to the decision maker but not getting a visit, then you need to review your call structure, how you overcome objections and how you close.
Visits to Jobs on - if you are getting quality visits but not converting them to opportunities then you need to look at your visit structure and also review how you close – do you ask for the business?
Jobs on to Jobs filled - if you are not filling every temp role you get, then you need to look at how you are taking in the temp job. Do you know whether or not you are competing? Are you missing out because you are not quick enough? If this is the case then you need to look at your temp availables list. How up to date is it?
2. Great temp consultants fill the job over the phone.
Your client has a problem, that’s why he or she has called you. If you immediately solve that problem then your client has no reason to call anyone else. There is no reason to send resumes (it’s just an objection). You are the expert and your client should trust you to provide the “right” person. Don’t assume that the client wants or needs to see resumes for a temp role. If it’s an immediate need then there is the opportunity to fill it immediately.
3. Great temp consultants know who is available.
To be able to fill a role over the phone, you must know who is available. Train your candidates to keep you updated via text or e-mail regarding their availability and then update your
availables list daily. That way you will be in a position to fill the role over the phone.
4. Great temp consultants are expert time managers.
Running a temp desk is mainly reactionary – that is you are reacting to what is coming your way (temp jobs to fill). Having said that, it is essential that you block out time for important activities such as business development and candidate generation. 50% of your time should be spent in business development activities and 50% on candidate generation.
5. Great temp consultants understand the importance of covering their finishers every
week. One of the most effective ways to build a high revenue temp desk is to cover your finishers each week and then add two new starters. To do this you need to be in control of what is happening on your desk. You will also need to be in contact with your clients and worker temps each and every week, regardless of how long their assignment is for. I used to devote every Wednesday to calling. In the morning I would call my worker temps to see how they were doing and in the afternoon I would call my clients for ongoing references. By the end of Wednesday I knew how many finishers I have this week. On Thursday I would get to work reverse marketing those finishers until I had jobs for them starting on Monday. I would be pretty confident that I would get at least two jobs phoned in per week so once my finishers were covered, anything else was a bonus.
6. Great temp consultants believe their own story!
Having a strong self belief is essential to being successful. If you don’t believe your own story with all your heart, then it will be pretty difficult to convince your clients and candidates to believe it. You must believe that you are worth every cent that you charge and that you are an expert at providing quality temporaries.
7. Great temp consultants know their competition.
Knowledge is power in our industry. Ask clients and candidates about your competition. Know who is good and not so good. Learn about their strengths and weaknesses. Stay ahead of the competition!
8. Great temp consultants understand the importance of self
development. One of the traits that successful people share is their thirst for self development and to be the best that they can be. Watch those in your office, learn from experienced consultants, attend training, listen to CD’s and read books.
If you have attend any of my training sessions you will know that my belief is that it doesn’t take much to be outstanding in the recruitment industry. Focus on becoming the best that you can be and success will follow. Implement some of the points mentioned in this article and you will be well on the way. Good luck!
Gaynor Lowndes, the Managing Director of The Recruitment Training Company, has over 18 years recruitment experience, gained in both Australia and the UK. If you liked this article, consider Gaynor’s highly successful book “The Art of Recruitment”. Visit
www.trtc.com.au to place your order.
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Advertisement
“10 ½ Ways to be a Complete Failure in Recruitment – Live!”
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Don't
Miss This
Recruitment Society Event, Public Appointments – Opportunities for All? 23rd January London
The speaker is Janet Gaymer, CBE, Commissioner for Public Appointments. She
will be discussing the topic "How is the process of selection for public appointments managed and implemented?" The presentation will run from 6.30 – 7.45, and will be preceded by drinks from 6.00 pm and will be followed by networking and refreshments. The evening will finish at 9.00 pm. If you are interested in attending please contact Richard Taylor at
admin@recruitmentsociety.org.uk
The Human Resources Forum, 9-12 May
On-board the P&O ship Aurora this May, 340 senior HR professionals and 125 supplier executives will come together for 2 days and 3 nights of conference, new-business meetings and informal networking.
The forum, now in its 12th year, combines a conference programme with facilitated networking. Meetings are pre-arranged allowing delegates to research potential suppliers, benchmark existing ones and hear about new products and services in the marketplace. Equally, for suppliers, it’s an opportunity to build new relationships and affirm existing ones.
"It’s also an event where you’re likely to achieve more in three days than you usually do in three months!" For information on attending please contact Alison Scott on
ascott@richmondevents.com
or 020 8487 2262.
Maine-Tucker Annual Salary Survey
Maine-Tucker’s 2007 Salary Survey is now available. It is compiled from records of 2006 vacancies, and discussions with a cross section of their clients to show secretarial, administrative and other support staff salaries that are current within the M25. For more information or to receive a hard copy of this year’s Salary Survey please contact Errol J Hendrickse on 020 7734 7341 or email
news@maine-tucker.co.uk
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Discussion
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Online
Recruitment Update (sponsored by http://www.broadbean.co.uk
for "the UK's favourite job posting system")
Hitwise top 10 Recruitment
Sites, week ending 13th January 2007
The most visited UK recruitment sites last week, starting with the
most popular, were www.jobcentreplus.gov.uk,
www.totaljobs.com, www.monster.co.uk,
www.jobs.nhs.uk, www.reed.co.uk,
www.jobsite.co.uk, jobs.guardian.co.uk,
jobs.tes.co.uk, www.1job.co.uk
and www.jobsgopublic.com. Hitwise don't aggregate data from sites who
form part of a network such as fish4.co.uk For more information about Hitwise, visit http://www.hitwise.co.uk
Louise's UK Recruiter blog
In the past week I've talked about LinkedIn Answers for candidate
sourcing, Top
100 employers for gay people and HireScores ranking recruiters
. You can read
"Louise's UK Recruiter blog" at http://ukrecruiter.typepad.com
You can keep up to date with
other the recruitment blogs from the UK via the UK Recruiter - blog
watch page at http://www.ukrecruiter.co.uk/blogs.htm.
You may also be interested in reading
Jim Stoud's newly re-launched blog at http://jimstroud.com/
Press Release: Excite UK partners with Workcircle
Excite UK has partnered with Workcircle to launch its brand new personalised job search engine
(http://jobs.excite.co.uk).
"The new service gives users easy access to over 200,000 UK jobs on the Workcircle pay per click network and enables them to receive the latest announcements immediately via RSS (Really Simple
Syndication)". The new channel uses Workcircle’s technology to provide a custom vertical job search engine for Excite UK, integrated into its existing site, hosted and managed by
Workcircle. www.workcircle.com
This section is sponsored by http://www.broadbean.co.uk;
"the UK's favourite job posting system".
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Regards
Louise Triance
UK Recruiter http://www.ukrecruiter.co.uk
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