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The State Of Recruitment And How To Prepare For A Downturn

The state of recruitment and dealflow

Recently, I had a conversation with a recruitment leader who shared the fact that she had a number of her team billing in excess of $200,000 a year without doing any business development or client visits. 

Given the uncertainty around the market and when things will slow down, she’s made it a priority that all her consultants register on TalentVine. Not only that, she has ensured that the team are optimising their profiles so that we can be used as a viable business development channel when this slowdown eventually happens. 

Supplementing Your Dealflow with TalentVine

I strongly suggest that all recruitment consultants follow this example.  We really want to continue playing a supportive role in the recruitment industry in Australia. A big part of this is making it as easy as possible to work with great employers that are looking for recruitment support from relevant specialists. 

The last time the market slowed down, which was March 2020 at the start of COVID, we saw outsourced recruitment plummet. A lot of recruiters in the market lost a significant share of their deal flow, and even worse than that, a number of recruiters lost their jobs and were made redundant. 

This resulted in an avalanche of new signups to our platform. Either from recruiters that had been made redundant and had set up an ABN in order to set up their own agency. What we found happening was even though we continued to see deal flow during COVID, this was at a much lower rate than what we had seen beforehand. 

The recruiters who had already optimised their profiles with past examples of successful placements made through TalentVine, as well as external ratings, stood head and shoulders above the other new consultants and were able to continue making key placements. As is the case with any marketplace, there is a benefit to having a data-rich profile.

Maximising Your Profile

It may come as a surprise that TalentVine is not a race to the bottom. 

We constantly see the most suitable recruiters getting selected as opposed to the cheapest ones. By taking the time to optimise your profiles now, it means that employers can see multiple points of differentiation on your TalentVine profile instead of just deciding to work with you based on fees alone. 

Halfway through Covid, we made the very tough decision to pause any new TalentVine Recruiter registrations and create a waiting list of new agents looking to join the platform. There simply was not enough roles to go around, and we made the decision to try and help the consultants that had been with us through thick and thin with the lion’s share of dealflow. Whilst I certainly do not anticipate that we would need to create a waitlist again, now is still the time to get ahead of the rush. 

We want our employers to be able to make the most informed decisions possible. They will always favour a profile with in-depth metrics and historical data. You can add these to your profile at any time by speaking to a member of our team, or going to the ‘Add Ratings’ section of the platform, clicking the ‘Request External Rating’ button, and filling in a form. Demonstrating to employers that you have a proven track record and experience will help ensure you can win more roles going forward.

Looking forward

We are really here to support and empower both sides of our marketplace; employers as well as recruiters. While we want our employers to have the information needed to partner with their ideal recruiter, we also want to support our agents in maximising their visibility and highlighting their amazing qualities.

If you feel that it would be valuable for an online training session or even a face-to-face meeting with any of our team, we would love to come spend time with your agency. We can help the team to optimise their profiles, understand how to craft compelling bids and set them up for success. So regardless of what happens in the market, TalentVine can continue to be a valuable channel for you and your team. 

If you feel this would be a value, please reach out to us at any time at info@talentvine.com.au or at 1300 940 459 and we will be in touch. 

Thank you for your ongoing support and we look forward to continuing these fruitful partnerships. 

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