At TalentVine we are in a unique position to understand what employers are looking for when selecting which recruiters to work with.
For those unfamiliar with TalentVine, we are a hiring platform that connects employers with specialist recruiters.
By capturing key performance metrics and ratings, employers can make informed decisions on who the most suitable consultant to work with is.
Our job is to remain agnostic when employers select who to work with, so this means that we give all consultants the equal opportunities to highlight their strengths and suitability every time they ‘throw their hat in the ring’.
In discussions with employers over the last 800 roles we have released through TalentVine, we would love to share what we have found as being the main points of differentiation that they look for when selecting who they want to engage with to make their next hire.
Is The Consultant a Specialist or Generalist?
The number one thing that employers look for is whether the recruiter is a specialist and will, therefore, know how and where to find the specialist talent that they are looking for. On TalentVine’s recruiter profiles this links to a recruiter’s LinkedIn profile which is a simple way for employers to see if the consultant has optimised their LinkedIn profile around their specialisation. We have also built a feature that analysis a LinkedIn profile to predict the likelihood that we consultant does specialise in that area based on specific keywords.
Likewise, we also highlight the agency website for each consultant and whilst it’s all well and good telling an employer that you specialise in sales roles, if they click through to your website and only see engineering roles listed or no mention of a sales specialisation then this turns them off and is not the best way to make a first impression when you’re trying to gain trust.
Your Agency’s Website Reflects Your Brand
As we also link employers to a consultant’s website, this is often the first impression that they will have of your ‘online brochure for the world to see’. As mentioned above, does this talk about the roles and geographical areas that you specialise in? Do you have a preference to work with startups or large corporates? Any of this information can help differentiate you.
This is especially important for recruiters that specialise in the digital, IT and marketing space. If your website’s frontend looks like it hasn’t been updated since the threat of Y2K and the UX is all over the place, then that doesn’t give employers much confidence that you’ll be able to gain the trust of candidates that expect you to know the value and benefits of having a strong digital brand presence and a simple user face. You should be able to talk the talk, and practice what you preach.
Your Proposed Fees:
There is no denying the fact that lower fees are attractive to clients. However, recruitment marketplaces like TalentVine are not just a race to the bottom. We have noticed that the recruiter that gets selected is generally bidding 3% points above the lowest fees on offer. For example, a specialist bidding at 14% will more often than not get picked over a generalist bidding at 11%.
We do feel that for the most part, the days of working on roles at 20-25% are over and typically we see employers gravitating towards exclusive fees in the 11-13% range and non-exclusive in the 13-16% range.
83% of the time, employers will select recruiters who are ranked in the top 50% in comparison to their peers across the following metrics:
Submission to interview rate:
How many candidates that are submitted get invited to interview – this shows that a consultant takes the time to understand exactly who the employer is looking for and the candidates that they put forward are all deemed to be quality enough to invite to interviews as opposed to the consultants that just throw CVs against a wall hoping the occasional one will fit the brief.
What is the proportion of roles that the consultant works on that they end up finding a successful hire for – this speaks for itself around the value this brings to the employer
Time to hire:
Whilst this in itself is not a direct correlation to quality, it at at least indicates to employers that the consultants are active in their area and will have warm connections that they can introduce to the client in shorter time frames.
As the world starts embracing public ratings more and more through the likes of Uber and AirBnB, we are proud to help recruiters display their performance ratings in a way that enables them to win more roles. The average recruiter on TalentVine has been rated as 88/100 so we are all about making it easier for employers to identify and work with the top-rated consultants. Often a consultant from a one-man band or a boutique agency lacks the brand presence to enable them to get onto PSAs or work with clients at the higher end of town. However, with the rise of recruitment marketplaces and rating platforms, they now have the opportunity to work with clients by highlighting their previous performances as opposed to relying on a sales pitches through cold calls.
Like you, we know there are a lot of moving parts in the recruitment process and often if a candidate doesn’t work out after three months, there are a number of factors at play that are outside of the recruiter’s control such as onboarding and training, employment conditions and the quality of their colleagues or line managers. However, as a point of differentiation more and more recruiters are offering extended replacement guarantees of six months and in some cases where a C-suite role will be worked on exclusively, 12-month replacements are being offered. In one instance, we have even seen a recruiter that is offering lifetime replacement guarantees on any of their placements.
Hopefully, this provides insights into what’s required to remain competitive as the recruitment industry continues to embrace the world of digital and look at new ways to gain insights that will give them an advantage.