IT staffing companies today are at a strange advantage.
IT Staffing is fighting the skill gap has arisen across the globe. But is there a way for them to better themselves? There is data to demonstrate that the skill gap is increasing and there hasn’t been much done yet to address it. In U.S alone the skill availability vs demand for the skill gap is at all-time high. Below are some figures reflecting that:
In a study by Bullhorn’s 2016 North American Staffing and Recruiting Trends Survey (http://www.bullhorn.com/), there are a number of respondents who engage in recruitment who said that the shortage of talent is real.
Below are the figures:
- Engineering/design, 80% (80% of the Engineering/ design recruiters find it hard to find talent)
- IT/tech, 78%
- Finance/accounting, 72%
- Professional/speciality/managerial, 72%
- Office/clerical/admin, 72%
- Marketing/creative, 71%
- General healthcare, 70%
- Sales, 67%
- Specialized health care, 67%
The shortage is real and is spread across various industries. Staffing companies are at an advantage to step up the game and provide immense competitive advantage for their clients. They face the shortage themselves but their specialization, in some case years of specialization, enables them to be at a place that they could really leverage the shortage in the industry. But what best practices should a staffing company follow to leverage this advantage? Below are some of the important points:
IT Staffing Companies Best Practices:
It will be important for the staffing companies to differentiate themselves. The differentiation could, a notable one or notable ones, be their advantage in the marketplace. It could be minimal turnaround times, access to the best talent or brilliant client servicing. The more the differentiators the better the grip on the marketplace. In the end, these differentiators will allow the staffing companies to build competitive advantages that are scarce in the market, and leverage them to their benefit.
Staffing is a service industry. It is of penultimate importance that the company has great relationship with its clients. The number of clients a staffing company has could be a good indicator of its success but it is also essential to see the average time period of its relationship with the client. It could be a great indicator of how good the client servicing is. And for a staffing company this indicator, the average period of its relationship with the client, is a great metric to judge the quality of the company.
Hiring is not an easy process. It requires assessments on multiple levels. A technical resource with amazing technical skills could be a misfit on cultural level. Hence the need for multiples assessments. A staffing company needs to understand all the levels that matter for its clients, clearly understanding their exact requirements. End of the day they are in the business of supplying the best resources in the market; and they could only do it if they have efficient processes to consistently score a great resource-organization fit.
A resource that doesn’t get hired is not a resource that wouldn’t get hired. A staffing company with productive mentor-ship programs could work on weaknesses of resources and convert them into perfect fits for organizations. A misfit doesn’t always happen because of an assessment that is permanent. It’s important for the staffing company to assess the gaps and try filling them, and converting the candidate into a professional.
These are the core best practices that should reside at the heart of an efficient Staffing company. The potential as of now is immense. The markets are expanding. Resources, the right ones, would become scarce, and only few staffing firms will establish themselves as the best in their verticals.