One-off recruitment partner vs. Strategic Talent Acquisition partnership – How to choose the right Talent Acquisition partner?
For a fast-growing SaaS business having a talent acquisition strategy is a smart move.
As a start-up, you might have succeeded in recruiting the right people from your own networks so far. But the fact is, when you need to start growing your headcount faster than before, your own networks will eventually run out.
“The earlier in your growth you are in terms of the number of people, the more critical each recruitment you make is.”
Finding and recruiting the right talent is not easy. But it is crucial, and the earlier in your growth you are in terms of the number of people, the more critical each recruitment you make is. These people will shape the success of your business!
At this time, many founders need help in talent acquisition. Some companies have the opportunity to hire their own talent acquisition teams, but there are also more flexible options for that in the times of uncertainty. Time to turn to a talent acquisition partner for help.
Not sure whether you should go for a one-time recruitment partner or a long-term talent acquisition partnership?
When choosing a talent acquisition partner, there are different options that are suitable for different situations. Basically, if you aim to find and hire 1-2 talents to grow your team in one year, one-off recruitment projects with one-time recruitment partners are a good option for you. To find the best suitable partner for each of the roles you are looking for, you should look at their specialization and expertise.
If you have growth targets for hiring at least 5 new colleagues during the next year, a long-term strategic talent acquisition partnership would be a better option. There are many reasons why this is a smart choice for you in this case.
If you aim to grow your headcount by more than 5 people next year, a strategic talent acquisition partnership is a smart choice – Here's why
Hiring more than 5 people per year to roles critical for your business is a high growth target and requires a talent acquisition strategy. That’s why establishing a strategic talent acquisition partnership is recommended. Basically, if you need to google “how to make a talent acquisition strategy”, finding a good partner will help you a lot!
#1 Minimizing the risk of errors in recruitment can save you up to €100K
It is crucial that you minimize the risk of error recruitments as well as you can. If you go for a one-time recruitment project with a changing partner, the risk becomes bigger. Also, success fee based billing is not a good option in this situation, because it encourages quick wins and hence bigger risks.
“The goal of a strategic talent acquisition partner is not only to complete individual recruitments as fast as possible, but to help you reach your long-term goals as a business.”
A partner that knows your SaaS business model, growth phase specific talent needs and gets to know your company strategy and product roadmap in the long-term, minimizes the risk of errors in your recruitment decisions substantially.
A strategic partner helps you to make appropriate profile definitions in relation to your strategy. The goal of a strategic partner is not only to complete individual recruitments, but to help you reach your long-term goals as a business.
#2 Your dream talents are the most competed for talents in the industry
Let’s be realistic. Everyone else is looking for the same tech, sales, marketing and customer success talents, too. You’re not the only one. Most of the time, these talents are not in need for a new job – but that’s exactly what you have for them to offer. The needs do not match here, right?
“A strategic partner will recruit all the time and build your talent pipelines strategically, so that you are able to hire when you need.”
The odds that your dream talent is changing jobs when your one-off recruitment project is ongoing, are minimal. This is why you need to change into a continuous recruiting strategy!
A strategic partner will recruit all the time and build your talent pipelines strategically, so that you are able to hire when you need. This way you are active in recruiting right when your dream talent decides to change jobs.
#3 A Strategic Talent Acquisition partnership also takes care of your Employer Branding
Activating your talent marketing and employer branding early enough sets the foundation for your long-term growth and hiring success. Today, investors are also more likely to ask you about your talent acquisition strategy and employer branding actions.
“Even a small enhancement in employee churn will lower your recruitment costs significantly.”
Employer branding means communicating your strengths as an employer, building distinction and strengthening your competitive position in the talent market by means of marketing communication.
In addition to making your future hiring easier, building an employer brand also affects employee retention. Keeping the people you already have is important and way cheaper than hiring new ones. Even a small enhancement in churn will lower your recruitment costs significantly.