The recession has brought about a much
needed rationalisation of the recruitment marketplace. The true
specialists have thrived and find themselves in a much smaller pool
of suppliers, while there have also been a number of high profile
casualties.
Staffing levels at many of the banking
divisions of the major international recruiters have dropped
significantly. The problem with oversupply of financial recruiters
has been solved in a very brutal way.
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The days of easy money are long gone and will
hopefully remain that way, the buoyancy in the financial markets
that had largely driven profits for any recruiter no longer in
existence. We are down to the basics, the fundamentals of providing
exceptional recruitment services as standard. Knowledge, longevity,
experience and quality will be the drivers of income going
forward.
The best recruiters will thrive in spite of
the market and not because of it; those who remain and do not
recognise this will be short-lived. This does not mean competition
for the financial institutions’ pound will be any less fierce, but
the standards set by those suppliers will need to be raised
significantly, particularly in order to restrict the ease with
which part-time suppliers enter and leave our markets, but also to
ensure that the general profile and standing of those suppliers
surpasses current perceptions.
The cleansing of the recruitment marketplace
is a true opportunity for resourcers to take advantage of this and
raise the benchmark significantly for those who remain. They need
to rigorously review their preferred supplier lists and take a
strong stance on de-
selecting recruiters.
They need to ensure uniformity within their
businesses to remain consistent in their selection of recruiters.
The remaining players are here for a reason.
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By GlobalDataPhil Tomlinson, a director of
CRS Ltd, a leasing recruitment company
