Edbury Daley is considered by many to be the leading specialist recruiter in the Spend Management sector. We have a long established presence in the UK market along with significant experience of recruiting on behalf of our clients across Europe, the US and Asia.
Our new website is designed to offer everything you need to know about the sector, whether it be as a hiring manager or with the emphasis on your own future career options.
We cover the latest industry news and jobs along with helpful advice on recruiting and looking for new career opportunities.
You can take a look at the new site here – http://www.spendmanagement.co.uk/
Why A Quality Focus To Recruitment Makes A Difference
One of our key clients is a rapidly growing Spend Management Company that is gaining market share because of the quality of both its product and its people.
It recognises that to attract the best talent and to retain its staff it has to give them exciting career paths, and needs to send a clear message to the market place so that talented individuals understand the opportunities they can provide.
They understand the value that we can bring by acting as their ‘ambassadors’ in the market and the value we add by both Talent Identification and also by how we present a consistent and compelling message about their business.
They have invested considerable time with us to jointly build the relationship so that we fully understand their business and the skills and attributes they require and the kinds of opportunities they offer. They recognise that they need an external partner who can sell their brand and position them well and not just source CV’s. They need a business that really understands a very competitive candidate marketplace.
How Does This Approach Make A Difference?
For one Senior Consultant role we had two offers rejected – one was very aggressively counter offered by their current employer and the other candidate was offered £10k more basic salary elsewhere.
We realised that market conditions may have changed so we undertook some salary benchmarking research on their behalf.
It is easy and all too common for recruiters to drive salary increases and to claim that a client needs to raise their pay bands – we will always advise a client based on real data so that they can make an informed decision.
In this situation based on our research and a full open discussion with the client they reviewed and raised their basic salaries and with them we refined the message we took to the market – the role has now successfully been filled as a result.
Based on this success this approach was adopted further and we have since successfully filled a number of other roles and have candidates in reserve for future appointments such as:
- Account Manager
- Pre- Sales Director
- Senior Analyst
We are currently working on four more roles for this client
It is clearly a success story for us and the client. It proves that even when facing incredibly competitive market conditions because we work together and they trust our advice we have some superb recruitment success and have together driven and produced market leading KPI’s
- Our interview to offer rate this year of 75%.
- Our interview to appointment rate this year is 50%
- Our interview to appointment rate since our client realigned their salary bands using our research is 80%
The Lesson Learnt?
If your organisation achieved these levels of performance in your recruitment process how much time and money would be saved?
Yes we usually cost more than those rates typically quoted on many PSL’s but our value and advice on key issues like process, salary, availability of relevant skills and market conditions makes a significant difference to the actual cost.
Equally our expertise is understood and recognised by candidates and this allows us to influence and persuade the best people to consider leaving their current jobs to join a new team when others may not. Detailed sector knowledge is critical, particularly in a job market like procurement technology.
Ultimately to save time and money and to add real value, you must invest time together with a business that knows the market. We seek to understand your recruitment challenges and give credible advice so that we can deliver candidates that fit your brief.
So ask yourself this, do you want a low price/high volume option for your recruitment or do you want value and a source of competitive advantage?
If it’s the latter, I look forward to hearing from you.
Here’s an excerpt from our Procurement Quarterly Market Update for the second quarter of 2015 which addresses recruitment market trends and the availability of skills in the consulting sector.
The picture in the consultancy space is not as bullish as in quarter one. It is somewhat mixed as some niche areas (spend management) are doing well but many others are either static or struggling to win new deals and hence we have seen a number of examples of organisations pulling back on previous expansion plans.
Most consultancies are still recruiting but not at the rate anticipated or merely to cover leavers or to backfill promotions. The picture varies according to each organisation’s project pipeline and this can change week by week currently. This is impacting on recruitment as candidates become nervous when recruitment drives are delayed or even cancelled.
Much of the new project work being awarded centres around technology led procurement transformation and many of these organisations are successfully ‘on-selling’ other services. In our view organisations not offering access to a technology solution seem to be at a disadvantage in the current market
The larger outsourcing deals appear to be less in number as many CPO’s or senior Procurement Leaders have indicated to us that they are focusing on ‘targeted help or consultancy on specific areas of spend or to speed up specific projects’ This implies they want to retain full control and don’t want to commit to the costs or risks of a long term outsource unless there is a long standing relationship or a specific business problem beyond the in-house capabilities.
Some organisations are in effect running transformation projects internally by carefully utilising interims directly instead of ‘outsourcing’. However there remains a shortage of experienced consultants with the requisite skill set to deliver major transformation projects in procurement and supply chain at senior levels.
An increasing trend that we have reported before is the shortage of junior level consultancy candidates with 2-3 years experience. Many consultancies are increasingly delivering projects via a tiered delivery model with good junior people increasingly being used to support senior people on-site from day one. Therefore they can only consider those with existing client facing skills and experience as they cannot risk putting those without this straight into this environment. This increasing demand means salary rates for these levels are becoming increasingly inflated as competition for good candidates becomes more intense.
As an example we are finding that good junior people with 2-4 years experience can command a base salary of £45-50k for a move to another consultancy. There are examples of individuals with only 3 years experience being offered £55k to move to some of the smaller niche consultancies. This we think will cause increasing problems for the bigger players or those organisations with strictly controlled salary and career bands who are unable to flex.
If you wish to discuss any of the points raised in this article, please contact Peter Brophy.
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.