Why Developing a Retained Executive Search Recruitment Strategy is a Smart Idea For the New Economy

The most recently available Recruitment and Employment Confederation (REC) industry trends report found that in 2018, over half (56%) of all new employees in the UK were placed by a recruiter, with that number rising year on year.

In the ‘new economy’ – the world post-tech bubble, it is increasingly common for tech organisations to utilise the skills of a recruiter to help them find candidates for all level of vacancies, but in particular, executive and high-level roles.

These types of candidates now chose to work with recruitment companies for a multitude of reasons, namely because of time pressures, and the assurance that they ‘get’ them and their career; it is becoming increasingly rare for candidates, especially for executive and higher-paid roles, to go it alone.

So when CRM and marketing automation employers in the new economy need talent for a vacancy in a business-critical role, what do they do?

They work with a retained-executive search recruiter – and here’s why.

The ‘New Economy’ and Information Technology

The new economy is characterised as the period from the early 2000s until now – the era in which tech has defined the world. Since then, however, the tech sector has changed dramatically and never more so than in the last few years.

‘Tech’ has gone from being a subsector of the business world to permeating every aspect of our working and personal lives – it is this shift which has caused such a change in the way tech companies operate and recruit: they are in constant need of talented employees, and plenty of them.

Even when unemployment has been high in this sector, companies have continued to struggle to locate the top talent for the simple reason that currently, there is not enough of the people with the right skills, experience and knowledge to go around - the fight for talent is very real indeed.

Recruiting in the new economy needs to be approached differently if tech companies want to succeed.

Retained Executive Search Recruiting in the New Economy

The truth is that for many business-critical roles, there is a limited number of qualified candidates not just in the UK, but across the globe.

What do you do when you need a Salesforce Certified Technical Architect, and there are only a few hundred on the planet – the search is not straightforward.

The answer, which many companies now realise, is in utilising a retained exec search.

This model of recruitment is the only way to guarantee that you get the right candidate for the job, and when that job is a Chief Technology Officer or a Chief Information Officer, you must find the right person the first time around.

Let me share with you the top six reasons why retained search is essential for recruiting in the new economy-

1.      Your retained executive search consultant will work for you on an exclusive basis – you get dedicated service.

2.      It is in their interest to find the perfect candidate for the position, as opposed to contingency recruiting, which is often more to do with how fast a recruitment consultant can locate a suitable candidate.

3.      You are getting a consultancy service; it is much more than simple ‘recruitment’.

4.      Cost-wise, you get a retained executive search service for slightly more than contingency, but the ROI you get is much better (it is actually more cost-effective to use retained executive search for top roles than it is to use contingency).

5.      You can be confident that a retained search recruiter will only follow best practices; it is the most elite form of recruiting available.

6.      A retained search recruiter will have access to the talent that you need, due to their connections within the industry. Again, something which contingency recruiting does not have access to.

You can see why this type of recruiting is necessary for executive tech roles. I have covered the critical differences between contingency recruitment and retained search in a previous blog post, which you can find here if you want some further reading.

Beyond the New Economy

While tech jobs, and in particular CRM, HCM and SaaS roles, have been at the heart of the new economy since it emerged, the sector is still evolving.

More recently, with the emergence of the knowledge economy and the sharing economy, the skills that employers are looking for in their employees are changing still.

Moving forward, while it might be impossible to predict exactly what the future of tech looks like, we can be sure that the demand for top talent will play a big part.

Do you work a retained search recruiter for your executive roles? If not, is it time you started?

Finally

We help tech companies find the executive Salesforce, CRM, HCM and SaaS candidates that will drive their organisation forward in an ever-challenging recruiting landscape.

From the years we have in the industry, we have built a second-to-none talent pool of connections, and we are never beaten on the quality of our candidates. Do you have an upcoming vacancy that you need quality candidates for? Get in touch with us today to find out how we can help.

Thanks,

Lee

About Resource On Demand

Resource On Demand is Europe’s first specialist Salesforce Recruitment Company, now also focusing on growth Cloud markets.

We assist innovative and disruptive organisations to grow their technology teams. Supporting companies to fill Cloud roles that span across Digital Marketing, Marketing Automation, Human Capital Management and the growing Salesforce.com suite of skills.

The team at Resource On Demand have access to an extensive database of key talent, registering over 8000 Cloud professionals each year.

To find out how we can support you call us on 01322 272 532, or you can contact us by clicking here.