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/
2014 has seen Edbury Daley make senior procurement appointments across the UK, Ireland, Continental Europe and Latin America. Here is how we provide global procurement recruitment solutions from a single UK office:
International database of procurement professionals – working with an existing network of talented, geographically mobile candidates
Leading edge technology – utilising on and offline technology solutions for virtual meetings and video interviewing
Global market knowledge – understanding regional market dynamics, candidate availability and salary expectations
Multi-lingual research capability – communicating with clients and candidates in their native language
As a product of global commercialisation the world gets smaller and major procurement functions increasingly move to international structures. We have adapted our capability to apply our superior level of recruitment consultancy effectively in international markets.
We now have a truly international network which spans all the key business locations in Europe and beyond. This enables us to consistently outperform local suppliers in cities as diverse as Dublin, Munich and Mexico City. Recent successes include:
- Appointed the European Procurement Director in Dublin for a Fortune 500 Company based on the East coast of the US
- Recruited an Albanian national as Global Category Leader based in Switzerland with the hiring manager based in the UK.
- Identified an excellent short list of Marketing Procurement Specialists in Mexico for a global banking group. Read the case study here.
- Sourced three Polish nationals for Category Management roles for a British company with offices in Warsaw.
If your procurement function has an international dimension we can ensure you attract the very best procurement people, wherever you need them.
Contact our team for further information:
Andrew Daley +44 (0)161 924 2385 firstname.lastname@example.org
Simon Edbury +44 (0)161 924 2384 email@example.com
Raluca Pirvu +44 (0)161 924 2387 firstname.lastname@example.org
Recruitment market conditions have materially improved in the past six months in particular. More companies are hiring and strong candidates have multiple opportunities to consider, so competition for the best people is now fiercer than at any time in the last five years.
In the current climate companies need to understand the market conditions they are facing and how best to be successful in the circumstances. This is where an experienced high quality recruitment consultant can add real value over the more basic agency service prevalent in many markets.
With this in mind we have highlighted five key areas in the recruitment process where an experienced consultant can be the difference maker in hiring the talent you need.
1. Offers an accurate appraisal of the attractiveness of a new job opportunity
Will the candidates you want be interested in your job?
Agent: Takes job brief and sends any relevant candidates from the database
Consultant: Advises hiring manager of attractiveness of job vacancy in the context of current market conditions and advises on best sourcing strategy
2. Assesses the availability and cost of suitable talent in the relevant market conditions.
Is the candidate you seek available at the salary budget allocated?
Agent: Sends candidates who are suitable but you cannot afford or vice versa
Consultant: Discusses the potential to flex either the salary or the person spec to get the right blend of cost and skills for your business
3. Helps position your company and opportunity better to the external market
How can you make your job more attractive to the best candidates?
Agent: Accepts the market perception of your company as an employer.
Consultant: Provides accurate feedback from potential candidates and suggests ways to position your company as an attractive employer
4. Creativity – knows where to look for right people, especially for rare skill sets, not just the obvious places.
Where are suitable candidates to be sourced from for difficult to fill positions?
Agent: Searches a database and advertises the position and sends you whoever they have.
Consultant: Suggests less obvious sources of good candidates and uses their network to pursue them on your behalf. Won’t send weaker candidates just for the sake of it.
5. Better conversion rate, candidate management, valuable in these market conditions
How do you get more of your job offers accepted?
Agent: Arranges interviews and hopes that the candidate accepts your job offer
Consultant: Manages candidate and client expectations throughout to maximise likelihood of candidate acceptance