In Part One (published 10 December 2012) I discussed some of the issues you should consider when planning a recruitment campaign.
The first two steps covered conducting an analysis/ review of the position and then putting together the position description.
Part 2 looks at the decision to DIY or work with a recruiter and then provides some guidance around using your network and advertising to identify candidates.
Step three – DIY or using a recruiter
DIY
If you decide to DIY to save money then you should ensure that is actually the case. By thoroughly mapping out the recruitment process and costing out your time and that of support staff, you will be able to work out the in- house costs. To do this, allow six to eight weeks for the search period and then break down all the time you will need to spend on each of the steps set out in this article. By the time you have arrived at a final cost you may be surprised how much a DIY recruitment process will cost your business.
Your other consideration is whether you think that you have the time and skills and experience to effective manage the process from end to end. Allocating time can be a juggling act particularly in a busy financial planning practice where the focus is on clients. Recruitment is demanding and exacting particularly when you are trying to secure high performance candidates who need to be romanced. If your focus is not on keeping the preferred candidates interested then they may lose interest and not wish to continue discussions with you.
Recruiters
If you decide to work with a recruiter they should be industry specialists who understands your business and the role you are seeking to fill. Additionally, they should have a track record of recruiting for like positions and be willing for you to talk to advisers for whom they have undertaken recruitment assignments.
However, you may find that although you would benefit from working with a recruiter their costs maybe stretch your budget. Recruiters charge between 15%-25% of the base remuneration package (that includes superannuation and other benefits) and those working at the lower end may provide you with a cut price service costing you additional time and money while not delivering relevant candidates.
Often recruiters work on a retained search basis with an engagement fee paid on the signing of the contract. Often this will be a third of the estimated base remuneration. A second third will be payable at short listing of candidates and the final third at the candidate signing the employment contract.
A number of recruiters working on a contingent or success fee basis have a pool of candidates that they present to clients who are recruiting for like roles. If you like a particular candidate you should be aware that the recruiter may have them in discussion with their other clients and all your time and effort maybe for nothing.
Recruitment advisers
If you find yourself in the position where you need to plan out a recruitment process and would welcome professional advice and support but don’t want to engage a recruiter, you should consider the services of a recruitment advisory consultant who has not only recruitment experience but has worked with business owners such as yourself and will readily identify with your requirements. A recruitment adviser will provide hands on assistance in the design and execution of the recruitment strategy including advice on position descriptions, advertising, CV analysis, interviewing, letters of offer and referencing.
DIY
If you decide to DIY then there are a number of ways you can use to conduct the search:
Your network
Your own network of industry colleagues and those that work with you in your business can be a good starting place if you decide to undertake the search yourself. Just mentioning that you are looking to recruit for a role can lead to an introduction to potential candidates. Often this is a matter of the right timing and can prove hit and miss, but it pays to spread the word as networks can be very effective in bringing to your attention candidates that you would otherwise not known about.
Advertising
Advertising was once the preserve of large institutions due to the cost of print media, however with the advent of web advertising, costs are no longer prohibitive and can draw in a wide audience. Employment websites such as SEEK and MyCareer draw in a large audience from not only from within the industry, but from other sectors too.
My experience with these websites is that depending on the position advertised, you will probably have a significant response…but many applicants will be hopefuls that don’t fit your requirements. It is important to put a lot of work into the contents of the advertisement and make it appealing and draw in the right candidates.
These websites will at any one time have positions similar or the same as the one you are advertising, so it is critical that your advertisement stands out from the crowd. Also you need to keep in mind that advertisers constantly refresh their advertisements which will boost their positioning on the site, so you can’t afford to take a passive approach. Recruiters are the primary users of these websites and reviewing their advertisements may help you to crystallise your thinking.
I worked with a client to recruit an operations manager for his business that had ten staff and significantly grown its revenue over the last three years. The client used SEEK and the response to the advertisement exceeded a hundred applicants. Ten were directly relevant, five were interviewed, two were short listed and the offer made and accepted within a fortnight of listing the advertisement.
Industry journals and websites can also be worthwhile considering for their audience and they are cost effective.
In Part Three, I will discuss the interview process, referencing, psychological profiling and making the offer.
