Your Secret Source of Market Intelligence: Recruiters
A recruitment partner can provide you with much more than staff. They can also provide valuable market intelligence that will give you an edge over the competition in three areas:
If you pick an industry-specific recruitment agency, their experience in your sector will make them a great source of market intelligence. Bear in mind that your recruitment agency is working with other companies in your industry, too. They have an overview of all the developing trends and insider info, including:
- The initiatives your competitors are taking
- The trends that are working and the ones that are failing
- The latest innovations in your industry
- Opportunities for cross-promotion
Because they have their finger on the pulse of your industry, they can help you adapt quickly to change.
How much should you pay to attract the right candidates? Your recruitment partner knows what the going rate is for a wide range of roles in your industry. They may also know what kinds of benefits your competitors are offering. With this info, you can make sure you’re offering a competitive wage and attracting the best talent.
Availability of Candidates
A recruitment agency knows which roles have a large talent pool available and which are hard to fill. This insider intelligence on candidate availability is vital for your company to build a good employment strategy. For example, you can offer higher wages for roles that are harder to fill – and make more effort to retain candidates in those roles once hired.
In short, your recruitment partner’s experience and connections make them a treasury of market intelligence that can help you turn your business goals into reality.