Placement Or Retention?
Given the contemporary state of the economy and that of recent history, the importance of internal recruitment policy and processes has seen a real ascent on the agenda within every business.
With the obvious benefit of internal process being cost efficiency, it is clear to see why it has become such a focus for businesses, both Bluechip and SME. Working with a number of businesses with a variety of internal recruitment strategies, I am keen to find out what internal recruiters and the line managers they work with are finding the most successful strategy.
I think the actual extent and variety of duties within the internal functions is often not something that is entirely realised by business partners and the wider market. First thoughts fall to actually recruiting individuals for vacant positions, however internal recruiters can have a huge remit including but by no means limited to :
- Talent retention policy
- Succession planning
- Talent attraction campaigns
- Stake holder engagement and management
- Current business issues, concerns and developments
- Monitoring current market trends and remuneration
- Advertising and identifying candidates
- Managing recruitment process between stakeholders and candidates
- And of course every internal recruiters favorite - managing external agency recruiters!
With this all on the go, I started to think around financial incentives for HR recruiters and whether it would be more effective if it was based on placing individuals or to incentivise based on talent retention and or value add processes such as initiating successful internal moves.
The actual process of physically recruiting a role can take a huge amount of time so by enabling internal recruiters to build strong external partnerships, they would be able to add a massive amount of value that, given the hours in the day, would be impossible if physically recruiting all roles.
Obviously with the ‘retention’ based incentives, there would be a fee for the person initially. This would however save fees generated from backfills and a significant portion of senior placements where there is a healthy pool of rising talent.
Furthermore it ensures that whether it is an internal or external option, the emphasis is purely on securing the best candidate for the role, team and the business.
Having never worked within internal recruitment, I would be interested to hear the challenges faced and what the preferred method of procedure and incentive should be:
- To manage the process and focus on areas highlighted above with rolling incentives based on duration of tenure and talent flow through the company?
- To manage the process from a very hands-on basis and incentives based on placements within the business?
Look forward to hearing your thoughts…