2019 began, and the recruitment world wakes up. Projects are signed, budgets are approved, and positions are open. over talent with skills in high demand the competition is rising.
For hiring managers, the expectation is always to recruit as fast as possible. Many times, we know from past experience that it is difficult to recruit for a particular role or in a specific market.
How many times did you sit down with a hiring manager, and had this conversation? "it's difficult to recruit for this profile, the market is problematic, it will be challenging to recruit with this budget....". these conversations can sometimes be perceived as "excuses". To really show the competition and the difficulty we need to talk in numbers and data. Yes, not everything can be quantified and measured, but there is a lot of data out there that we can use for market analysis and research.
I gathered 4 tools that can help you to present market analysis to hiring managers, discuss candidates talent pools and market positioning.
One of the new features that you get in hiretual Pro is the ability to see basic market insights according to search criteria.
you can get a picture of the "talent pool" you're targeting - how many candidates you have with the experience you're looking for, the companies they work in, their years of experience, and the universities they come from.
I use two ways to see the data - first through the Insights tool; the second - when starting a new sourcing project - the data will appear on the side and you will see the change in the candidate pool according to the requirements you enter.
Details worth looking at -
You can see the number of candidates who have changed jobs in the last 12 months, this can be a general indication of the stability of the market. (In a specific market we saw that people barely move - less than one % annually this can be also an indication of how difficult it will be to attract candidates from other companies).
The next step is to understand how competitive or attractive you are in terms of pay and benefits.
Payscale - The site allows you to see the average salary per position and field, and also see changes in salaries over years of experience and skills. You can pay for the data to get a full report.
Another way is to use Glassdoor, for companies that you identified as competitors- search for data on salary and benefits, the information is not always accurate but it will give you a general direction. (Example of analysis for SKY) -
Indeed can be used to understand the competition around- how many companies compete for the same target audience. When you open a search you can also see salary data on the side.
**It's important to see that you are using the country specific site- because each country has a different URL (indeed.co.uk, for example).
These data will allow you to sit with the hiring manager and present a more complete picture of the potential pool of candidates and what competition exists in the market. Looking at the data, you can think about what your recruiting strategy will be, what you can do to make the process more efficient or more attractive, and how you can expand the pool of candidates you are targeting (eg. changing the profile, offer training to cover skills gap, add relocation option).