Case Study – Adapting To Competitive Market Conditions
A rapidly growing spend management platform provider needed to make a key appointment. They ideally wanted to identify a candidate with experience from a direct competitor that could fit seamlessly into client facing projects.
In a market where those skills were particularly rare, we identified an outstanding candidate who met all the core criteria. After reviewing our findings on recruitment best practice, the client ran an excellent interview process, and the candidate accepted an offer at the perceived market rate. However the candidate was then made a very aggressive counter offer when he resigned which increased his basic salary by 32%. The candidate then decided to stay with his current employer.
We then focused on a second candidate that we had identified earlier in the process. He was offered a salary at the very top of our clients band for that grade. However he was made another offer by a Consultancy which was worth 15% more on the basic salary alone and accepted that.
At this point our client realised that the market had moved on from their existing salary bands and they needed accurate, up to date salary benchmarking data for their specific market sector.
Within 10 days we were able to gather salary data from their direct competitors and make our recommendations on the market rate for their various different grades. Using this hard evidence HR and the senior management team were then able to revise their salary bandings across all grades giving them more flexibility to recruit external talent without creating pressure on their existing internal structures.
This client’s ability to adapt to changing market conditions has now enabled them to compete successfully for the best talent in the market. As a result the role has now been filled with a very strong candidate that we sourced from a direct competitor.
We’ve also been able to recruit for additional roles for this client at the lower and mid points of their salary bands by tapping into an alternative talent pool that we discovered through extensive networking across the sector.
If you would like to understand how Edbury Daley can have a positive impact on your hiring process in challenging market conditions, please contact Andrew Daley.
For more information on the Spend Management market place, please visit our new site http://www.spendmanagement.co.uk/
The UK Spend Management sector is enjoying strong market conditions with several key players experiencing significant growth.
In terms of human resource, there are a finite pool of people with experience in a rapidly growing sector. This equation means there is a shortage of suitable talent that is only going to become more acute as the market continues to grow.
At Edbury Daley we have had a clear focus on the sector for several years now dating back to our first work with an established market leader in 2007. Our network of contacts spans all the key players in the sector and we know where the best people are.
We also know which people might consider new roles, and which organisations are at risk of losing some of their best people due to market factors like salary increases, under investment in the product etc.
In a marketplace which is characterised by this skills shortage, growing organisations need a recruitment strategy that can help give them competitive advantage.
We strongly believe that our portfolio of services can be a major factor in delivering that competitive advantage to the companies that we work closely with.
We offer several different recruitment services for both interim and full time roles, a bespoke salary benchmarking service for the procurement technology market and an advisory service which focuses on improving talent attraction strategies.
If your business needs to address how they hire the best available people, we have the experience and market knowledge to make a difference.
Here are some examples of the appointments we’ve made so far this year in competitive market conditions:
Senior Sales Manager – e marketplace & analytics provider
Managing Consultant, Coupa/Ariba implementations – big four Consultancy
Senior Consultant, SAP Implementation – big four Consultancy
Senior Consultant, P2P Transformation – niche consultancy
Senior Consultant – e Sourcing suite provider
If you would like a more in depth view of the market, whether it be for a discussion about recruiting into your team or with regard to your own personal career choices, please contact Andrew Daley on 0161 924 2385.
In our most recent Quarterly Market Update on the employment market for procurement professionals we reported on a skills shortage in spend management which has been created by the recent growth in the sector.
We mentioned the various factors creating inflationary pressures on salaries and offered some potential solutions for companies seeking to hire the talent they need in a very competitive market. The full report is available here whilst subsequent editions of our quarterly reports can be accessed here.
Unfortunately one fact is unavoidable, salaries are rising at pace and this is making it harder to afford quality people within existing salary bands.
Most salary data provided to HR departments is 6-12 months out of date and is too general to be accurate for a specific niche like procurement technology.
Given our specialism in this area we have access to a great deal of market data and have recently analysed how remuneration packages are growing at the various different levels from Directors down to graduates with two years experience.
If your business needs to benchmark its salary and benefits packages with direct competitors from the industry, we can provide a bespoke report tailored to your specific grades within a week. Please contact Andrew Daley if you require more details.
If you want more information about what’s happening in the Spend Management sector, including the latest news and career opportunities, you can visit http://www.spendmanagement.co.uk/
At Edbury Daley we are instigating some timely new research on the choice of recruitment and selection methods and the impact of those choices on the success rate of a getting quality recruits in to a hiring business.
As the global economy recovers many companies are pursuing significant growth plans. Often, the key constraining factor is the ability to hire and retain the skills and expertise needed. Employer Branding and Talent Communities are becoming the new parlance of Human Resource Management as bigger corporations embrace the advent of social media to gain an advantage in finding the people they need. This is covered in some detail in a very interesting recent study by Deloitte.
The creation of talent pipelines and new employee engagement techniques are pushing the boundaries of traditional recruitment practice but their success is reliant on the conversion of the initial engagement in to a hire. In other words, they only bring candidates to the start line of the selection process. How a company interacts from this point onwards determines whether the candidate ever crosses the finish line and joins the hiring company. Our survey is designed to investigate this second stage of recruitment process.
Candidate facing, the questions have been written to test attitudes and experience towards the mechanics of a typical corporate recruitment process. With companies investing heavily in cutting edge talent attraction strategies, this survey is about what happens next; how candidates respond to companies’ selection procedures.
To complete the survey simply think only of your experiences and responses as a candidate. There are just twelve carefully designed multiple choice questions.
The data gathered will be used to formulate a robust framework for a recruitment process which all corporate organisations can use as a benchmark for best practice. As a participant you will automatically have the chance to win one of three free career consultations with Peter Brophy, a qualified HR professional and one of our Directors.
The survey features twelve multiple choice questions and will only take a short time to complete. The questions are here:
How Do Recruitment Processes Impact On The Battle For Procurement Talent?
If you are a hiring manager you can request a copy of our analysis by e mailing Andrew Daley at email@example.com
If you would like to discuss any aspect of recruitment best practice, please contact the author of this survey, Simon Edbury via firstname.lastname@example.org
Our report on the job market conditions for procurement professionals and associated markets in the second quarter of 2014 features some interesting and largely positive developments. Whether you read this with the mindset of a hiring manager or with an eye on your own career, this analysis provides very informative reading. Headlines include:
- We are seeing some classic symptoms of a recovering job market for the procurement profession.
- Technology remains the most sought after area of indirect spend category expertise.
- The Spend Management Technology market continues to grow rapidly.
- Consultancies face challenges around balancing resources.
The full report is available here: Q2 2014 Procurement Market Update Featuring The Indirect Spend Index