Companies want ‘top’ talent and in response top talent is asking to “show me the money”!
Marc Sumner
Recruiting C-Suite Executives for the IT Channel Robertson Sumner - Recruiting Sales, Marketing & Technical talent for the EMEA IT Channel. Channel Chat - Global Podcast Show & Events CRN - A-lister
2014 seems to have brought a renewed confidence in the market.
Reports from the industry suggest that 80% of companies are looking to add additional headcount in 2014. With confidence restored to pre-recession levels and continuous reports of record-breaking sales from our clients everything sounds fantastic. However, as confidence rises, so do expectations. I believe expectations are in danger of overtaking what is realistically achievable, meaning that clients are missing out on some really talented sales people.
On the flip side candidates financial expectations have grown and many will only consider a move if it offers a 25-35% uplift on their base salary. And because the market is picking up the expectation is that ‘I know I am worth more on a basic’.
This poses me to ask 2 questions on how this will continue to work in the real world:-
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Clients - How does someone now get a new role into a company, if they can’t prove they can ‘hit the ground running’ or bring a ‘book’ of business…………Maybe they want to sell something different?
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Candidates - How does a company compete for your services, when you have no proof you have ever earned that type of money before?..........but obviously you think you are ‘worth it’
More than ever clients only appear to be interested in seeing candidates who work for a direct competitor who can ‘hit the ground’ running or bring a ‘book’ of business with them. However when I meet clients and analyse where their top performers have come from in 90% of cases the answer is the same “Jane / Joe has been here for years!!...they worked their way up!”
‘Top’ Talent is a term that is banded around like it’s the next miracle to make a company successful. Yes I agree that there are some very talented individuals out there, but normally they are being well looked after from their current employer and not exclusively purely based on financials......Companies are more aware of the cost of replacing staff and attrition rates, so make sure their best employees are happy! So attracting these people can prove very expensive indeed and is in part responsible for the salary inflation we are seeing.
I believe a lot of clients will benefit in the long term by considering other ‘top talent’ not in your market or developing your own? People are talented!.......... if we open our eyes and interview candidates that on paper are not 'perfect' …..it is possible to find future superstars, producing our own 'top' talent……..Who typically will show a degree of loyalty for the opportunity they were given and appreciate that you noticed their potential in the first place.
Trying to head-hunt candidates from competitors can be distracting and also costly………….It is not always the answer and these candidates are often more interested in short terms salary increases, rather than the long term goal.
I believe that in order for our clients and candidates to see long term benefit both need to start being more realistic with their expectations. Candidates who try and make themselves indispensable to companies, normally start getting pay rises, so start with your present employer!..........yes!!... go the extra mile for your current company and look to get recognised.
And when your next new hire or new role exceeds expectations, you will be pleasantly surprised!
I would be interested for you to share your experiences when it comes to hiring top-talent, and you experiences of the current market, do you believe the current market conditions and strategies for hiring people are sustainable?
Engineering Steel
10yAnother characteristic feature of the UK job market in 2014 is the prominent demand for the "hands-on" candidates as opposed to the strategy/policy people.
Recruiting C-Suite Executives for the IT Channel Robertson Sumner - Recruiting Sales, Marketing & Technical talent for the EMEA IT Channel. Channel Chat - Global Podcast Show & Events CRN - A-lister
10yCompletely agree Osiri!
Serving others with a common goal of personal and professional success
10yI agree that there is huge merit in not just rewarding your top performers but also investing time to support and encourage their development, but wonder at times how many businesses are really willing to do this? Often when I interview sales people they have received very little training or coaching because Companies are relying too heavily on their performance in a previous role without asking themselves how could I develop this individual further? Salespeople have to detail their top achievements when applying for a role, in order to support their claim for a higher wage, so almost begs the question of how relevant past performance is if you're looking outside of your market. Could these targets have been simply un-achievable due to poor management in a sector where it is less straightforward? Candidates need to be able to show what makes them so determined, passionate and successful this is as much about the amazing deal they closed to overachieve on Q3's targets as it is to what's in their make up that reassures you they can and will 'hit the ground running' In order to take that risk on someone outside of your usual sweet spot you need to go back and really understand your current top players, why do they want to succeed? What makes them continue driving when everything appears stacked against them? How do they really feel after closing that deal they nurtured for the past 6months? I feel this will not only help identify and develop top talent within the business but equally could prove valuable when looking for the next superstar.
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10yReally interesting to see the pendulum swinging back again Marc Sumner and all the challenges from pre-recession starting to rear their heads again! Particularly liked the comment about making yourself indispensable to secure a raise or promotion, have seen this pay off for a lot of people over the years.