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Recruiting into your startup/scale up - this tip might help?
Over the last decade, senior recruitment techniques have evolved at an incredible pace. The transition from pin-board job adverts to the emergence of LinkedIn and specialised third-party recruiters has led to an almost complete wipe out of senior roles being advertised on wall postings. This move in direction is mainly due to the sought-after demographic of ‘digital natives’. These are the members of the population who require a different strategy when it comes to recruitment due to the fact they are more likely to look for job postings on LinkedIn. This group of people also make up a large percentage of today’s entrepreneurs. Since 2006 the number of under 35’s who have started a business has risen by more than 70% engulfing the previous statistics which were in favour of the over 45 generation. So, what does this mean for the current climate of the recruitment industry when factoring in this vital demographics and their preferences?
(% of 23-35 year old's recruitment preferences 2017)
40% of ‘digital native’ participants stated that they would outsource senior level talent to external services such as third-party recruiters. Participants highlighted that it was mainly due to the specialised nature of recruiters and the personal service. ‘Other’ included job fairs and the company website. The under 40 age bracket are a very large percentage of entrepreneurs within the UK making up 39%, making them a heavily weighted force when it comes to having the ability to change the course of the recruitment industry.
(Percentage of UK entrepreneurs by age group)
The recruitment industry is having to quickly adapt to the needs of this modern demographic. With Third-party recruiters being regarded as the preferred method of senior level recruitment, the benefits of outsourcing senior recruitment are almost endless. Third-party recruiters provide a collaborative service which creates a desired profile well before the role is made available. This level of personalised service has proven to be the reason why 40% of young future entrepreneurs would opt for such a service. Furthermore, efficiency has been highlighted to be a key characteristic of the Third-party recruitment process, which is a priority for start-ups during the early on stages of their start-up. 98% of participants agreed that the first few senior roles are the most important hires and require the most amount of attention. The growing consistent use of third-party firms can be found in all work sectors including the FTSE 100. Highlighting their key importance in boardroom appointments from large scale enterprises to SME’s.
Thank you to my brilliant intern, Tanya, for producing this video as an introduction to this year's Venturefest - 21st June 2017.
Recruitment tips for start-ups #1
Recruitment tips for start-ups #2
Recruitment tips for start-ups #3