What is a Market Tumour In the Recruitment Industry?
It is a deadly process in the recruitment and head-hunting agencies, and clients and candidates exploit the process so much so that the agents are usually at their mercy. With this market tumour, the agent will spend plenty of time working on the job orders, but eventually, it will not be fruitful and will be a total waste of time.
Let us explore specific examples and see how they can affect ALL recruitment agencies and head-hunters.
Client XYZ Pte Ltd gave you the assignment after meeting them and after several conversations and emails. You worked on it, placing many advertisements on the Internet, placing some paid ads in the newspapers, etc.
You managed to get some positive responses, and you filtered the resumes/CVs you received. After hours of filtering, you interviewed a couple of candidates and decided that two of the candidates we revery suitable.
You sent the candidates’ CVsto Client XYZ.
One day has gone, and no reply from the client. Three days are gone, no reply. You decided to call the company.
“Good Morning, Mr XYZ. I sent you the CVs for two potential candidates; did you get them?
Mr XYZ: “Oh yes indeed, I received them. Thank you so much. I am so busy that I have not had the chance to go through them. Give me a few more days, and I will get back to you.”
A few days later, you received an email from XYZ saying that, with regards to the position above, they would like to inform you that the position has already been filled, but thank you for your time in assisting the search…
OH MY!!!!!
You spent many days posting 100s of advertisements…
Spent hundreds of dollars on the newspaper ads…
Spent hours filtering CVs.
Spent your time interviewing candidates….
The Result = “thank you for your time in assisting the search…”
Do you really know what is happening behind the scenes that cause such results? YOU WILL BE SURPRISED by what really happens….
THE FACT: Company XYZ has “delegated” the job assignment to 20 or even 50 recruitment agencies, (Psst…don’t tell other people)and you are ONE OF THEM! They have also advertised themselves, and they don’t have to give you the exclusive deal.
They may have also hired someone from within the same company. Well, the list goes on and on. Are you getting the basics of the Market Tumour? Hang on—this is NOT the real Market Tumour. We are only touching the tip of the iceberg! There are three levels in this Tumour, and we are only touching on the 1st level.
The Market Tumour has 3 levels: one is from the clients, the 2nd is from the candidates, and the 3rd is based on the computation of both the 1st and 2nd Tumour.
With the tabulation, it actually makes it almost impossible for any recruiter or recruitment consultant to close more sales, let alone hit their KPIs. They would need to work even harder and may be able to close only2-3 cases per month.
The math is not favorable to the recruiters or consultants in the recruitment industry. Even people who have many years of experience in the industry still fall into the trap of the Tumour itself.
Once a recruiter understands the basics of the Market Tumour, what he or she can do is to change the ratio of the clients to candidates. Once they have lowered the ratio from the normal 1:20 or even 1:50 and have moved it to 1:3 or even 1:5, the possibility of closing more cases will be very high.
Once they change the ratio of the client and candidate Tumour, the 3rdTumour will automatically become less. Hence, the ratio will not be so daunting and then it is more possible to easily hit and even exceed the KPI set by the company.
It is extremely important that any consultants or recruiters realize the existence of the Market Tumour.
Many do not know, and even those who do know fail to change the environment so the “problem” will continue to be there. No matter how hard a recruitment consultant or recruiter works, they will never win the MarketTumour.
The rule is simple – Know the rules of the game, and find a way to overcome them or even change them. Then you will have a better chance to survive or even excel in the industry.
The Market Tumour always goes against what the players are doing, regardless of what happens. Understand them, be friends with them, and eventually turn the tables around.
Good luck!
It is a deadly process in the recruitment and head-hunting agencies, and clients and candidates exploit the process so much so that the agents are usually at their mercy. With this market tumour, the agent will spend plenty of time working on the job orders, but eventually, it will not be fruitful and will be a total waste of time.
Let us explore specific examples and see how they can affect ALL recruitment agencies and head-hunters.
Client XYZ Pte Ltd gave you the assignment after meeting them and after several conversations and emails. You worked on it, placing many advertisements on the Internet, placing some paid ads in the newspapers, etc.
You managed to get some positive responses, and you filtered the resumes/CVs you received. After hours of filtering, you interviewed a couple of candidates and decided that two of the candidates we revery suitable.
You sent the candidates’ CVsto Client XYZ.
One day has gone, and no reply from the client. Three days are gone, no reply. You decided to call the company.
“Good Morning, Mr XYZ. I sent you the CVs for two potential candidates; did you get them?
Mr XYZ: “Oh yes indeed, I received them. Thank you so much. I am so busy that I have not had the chance to go through them. Give me a few more days, and I will get back to you.”
A few days later, you received an email from XYZ saying that, with regards to the position above, they would like to inform you that the position has already been filled, but thank you for your time in assisting the search…
OH MY!!!!!
You spent many days posting 100s of advertisements…
Spent hundreds of dollars on the newspaper ads…
Spent hours filtering CVs.
Spent your time interviewing candidates….
The Result = “thank you for your time in assisting the search…”
Do you really know what is happening behind the scenes that cause such results? YOU WILL BE SURPRISED by what really happens….
THE FACT: Company XYZ has “delegated” the job assignment to 20 or even 50 recruitment agencies, (Psst…don’t tell other people)and you are ONE OF THEM! They have also advertised themselves, and they don’t have to give you the exclusive deal.
They may have also hired someone from within the same company. Well, the list goes on and on. Are you getting the basics of the Market Tumour? Hang on—this is NOT the real Market Tumour. We are only touching the tip of the iceberg! There are three levels in this Tumour, and we are only touching on the 1st level.
The Market Tumour has 3 levels: one is from the clients, the 2nd is from the candidates, and the 3rd is based on the computation of both the 1st and 2nd Tumour.
With the tabulation, it actually makes it almost impossible for any recruiter or recruitment consultant to close more sales, let alone hit their KPIs. They would need to work even harder and may be able to close only2-3 cases per month.
The math is not favorable to the recruiters or consultants in the recruitment industry. Even people who have many years of experience in the industry still fall into the trap of the Tumour itself.
Once a recruiter understands the basics of the Market Tumour, what he or she can do is to change the ratio of the clients to candidates. Once they have lowered the ratio from the normal 1:20 or even 1:50 and have moved it to 1:3 or even 1:5, the possibility of closing more cases will be very high.
Once they change the ratio of the client and candidate Tumour, the 3rdTumour will automatically become less. Hence, the ratio will not be so daunting and then it is more possible to easily hit and even exceed the KPI set by the company.
It is extremely important that any consultants or recruiters realize the existence of the Market Tumour.
Many do not know, and even those who do know fail to change the environment so the “problem” will continue to be there. No matter how hard a recruitment consultant or recruiter works, they will never win the MarketTumour.
The rule is simple – Know the rules of the game, and find a way to overcome them or even change them. Then you will have a better chance to survive or even excel in the industry.
The Market Tumour always goes against what the players are doing, regardless of what happens. Understand them, be friends with them, and eventually turn the tables around.
Good luck!
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