Weighing The Costs And Benefits of Outsourcing In The Cutthroat World of Recruiting | Fast Company Global Reach Many companies are doing business and seeking candidates all over the world. Recruiting in other locations presents obvious obstacles, including distance, culture and language. That's where RPO comes in. Global Capability Recruiting today requires social media, blogging, career fairs, cold calling, and communicating with candidates. Recruiting has simply become too complicated and/or overwhelming for most in-house personnel to master all the tools and do an effective job.
Who is IIPE? Investigaciones Internacionales De. Personal Ejecutivo (IIPE) is a Latin American based candidate research and search firm covering multiple industries and disciplines across the globe. Strong client relationships, dedication to quality and our proprietary processes enable us to accelerate the time to fill while lowering the total cost per hire. Karen Russo President Tine Mathys Dir. of Operations Ricardo Marrufo Arturo Gardea Research Manager Executive Researcher Alejandro Fernandez Research Associate
What is IIPE Executive Research? • Not an RPO but a true boutique customized solution to augment your recruiting efforts. • Proactively partner with our clients on all projects and you are a phone call away from speaking to our project team at all times. • Our business model allows our clients to benefit though cost saving of 40 - 60% on internal expenses and ROIT. • Based in Playa del Carmen Mexico; being neighbors to the USA we have the business acumen, knowledge and understanding of infrastructure within many USA organizations. • The principal of IIPE is onsite 70% of the year as lead business developer, client relations manager and oversees project manager. • Expertise in generating slates of diversity candidates for our clients. We are AIRS Diversity Certified Recruiters. • Full research services internationally with multi-lingual capabilities. We have conducted search and research in Mexico, Asia U. K. and Latin America.
“Being a researcher entails being part detective, part tech geek, part actress. I am constantly trying to uncover the passive candidate – and more importantly getting their contact information. My computer is my best friend, but it’s nothing without the right tools and attitude. My secret weapon is a cocktail of persistence and creative talking. I strive everyday to teach the same skills to my current team of researchers. ”
Impact of Social Media With the expansion of communicating through social media, researchers must know the nuances of these sites and how to “trick” the internet and get the data they need accordingly. • Globally there are 203 different social media sites. Some recognized are: FB (1 billion), Twitter (500 m), Linked in (190 m), Hi 5 (80 m), Sina Weibo (300 m) • Almost a quarter, 24 percent, of U. S. workers surveyed are more inclined to search for a job through social media than through traditional methods including newspapers, job boards and recruitment firms, according to a survey by Kelly Services Inc. • In addition, 12 percent of U. S. employees approved of personal use of social media at work, but 51 percent say social media has a negative impact on workplace productivity.
Best Practices of a Researcher • • • Curious Questions Collaboration Quality Checks Resource Process Flow Customer Search Engines Advance Boolean Searching Crowd Sourcing X-Ray, Flip Search, Media Articles Detailing Your Process
Common Mistakes of a Researcher Accepting the first result as the answer Lack of radical thinking Asking the right questions Not being curious Relying only on Linked. In False positives Lack of structure in a process Relationship development with client’s permission
Why Outsourced Research Works Better Than Internal Teams
Case Study #1: Project: General Manager, China IIPE Client Time Spent Total Contacts Validated Contacts 6 hours 57 15 Tools IIPE used: IIPE’s proprietary process Tools client used: Internal database, scavado and Linked. In 6 hours 9 9
Case Study #2: Project: Java Developer, Iowa IIPE Client Time Spent Total Contacts Validated Contacts 4 hours 117 69 Tools IIPE used: IIPE’s proprietary process Tools client used: Linked. In 4 hours 9 0
Case Study #3: Project: VP, Laboratory Operations, CA IIPE Client Time Spent Total contacts Validated Contacts 20 hours 88 76 450 hours 172 Tools IIPE used: IIPE’s proprietary process Tools client used: Internal database, Boolean search and Linked. In
Case Study #4: Project: HR Manager, Mexico IIPE Client Time Spent Total Names Validated Contacts Interviewed Presented/Screened by client Final Interview 10 days 176 120 20 9 3 Tools IIPE used: IIPE’s proprietary process Tools client used: Internal database and Linked. In 2 months 12 viable 3 1 0
Cost • IIPE’s cost is 40 -60% lower than USA based research firms. • Companies that charge $10/hour don’t give you the quality you deserve or as thorough a process as IIPE gives you. You’ll get what you pay for. • The cost for a 20 hour project is $1, 300 for List Building ($65/hour) or $1, 500 for First Level Interaction ($75/hour) depending on your needs. For a 100 k position with a fee of $25, 000 the research cost would be as little as 5% of the placement fee. Remember the data is yours and you’ll have it for future searches with no additional cost.
Proprietary Research Process Building a great list is essential to the successful start of an executive search. At IIPE, we: ~ ~ ~ Target both passive and poised candidates Develop industry-specific strategies Work with clients to define the most effective process Proactively gather contact data and valuable notes Utilize state-of-the-art tools and IIPE’s proprietary database
Proprietary Research Process Cold Calling (First Level Interaction) IIPE’s recruiters: ~ Specialize in targeting executives ~ Possess cold calling experience across a broad range of industries ~ Skillfully position job opportunities and identify interest levels ~ Discreetly brand the hiring company Phone Screening (First Level Interaction) When time and manpower are critical, IIPE can take the recruitment process to the next level. Our professional phone screening drives prequalified candidates to your executive search firm. The IIPE team will: ~ Investigate skill and behavioral competencies relevant to the search ~ Qualify appropriate matches ~ Assess the potential for continuing with the prospect ~ Assist you in branding your client’s search process
Collaboration and Control • Strategic collaborations • 100% validated is GOLD to a recruiter with a HOT job. • Internal Process: ~ Daily monitoring of phone activity ~ Tools checklist ~ In-house recruiting office training • Weekly Expectations: ~ Daily Summary Reports ~ Curiosity and Creativity ~ Detailed summary reports ~ Extensive education on client projects ~ Expert tool utilization ~ Tracking of Leads Per Hour
What Are The Financial Benefits of External Research – Economies of Scale: In-House vs. Outsourced Corporate In-House Research Annual costs Outsourced Research Supplier Annual costs • $40 K+ for tools • $80 K - 110 K salary plus bonus (metro areas) • Health insurance & other employee costs • Total est: $120 -150 K (cost for a FTE) • Utilizing 40+ hrs/wk every week? IIPE - $65/hr (15 hr/wk) annual spend is $51 K • US Research Co. - $100 -110/hr for 15 hr/wk = $78 K minimum • Owns and maintains all tools • Expert in all tools • Database to organize & track client projects • Pay for only what you need
How Does One Prepare To Use An External Researcher? Here Are Some Helpful Tips
5 Key Questions: • What percent of the fee do you want to allocate to research? • Can I use the data in the list for future searches and for marketing purposes? • Research management who will collaborate with IIPE? • What are the goals and expectations from your team and client? • Performance metrics – reduction of time and opportunity for selling MVP’s?
IIPE Metrics List Building, Candidate Name Generation and First Level Interaction 98% of IIPE clients have generated candidates from our lists 80% of IIPE clients have had a candidate from our list receive job offers
Handouts • • • Mutual Non-Disclosure Agreement Project Agreement Client Report Summary Report Completed Projects by Industry/Discipline Frequently Asked Questions
Thank you for joining us. For more information Contact: Karen Russo, President IIPE Executive Research krusso@iipe. net or 203 -653 -2211
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