Over half of UK businesses hire unsuitable staff
This is according to a new, independent survey of 200 line managers commissioned by Talent Party, the world’s first recruitment marketplace for talent.
Talent Party, officially launching in the UK today, is set to positively disrupt traditional recruitment with its candidate model by accelerating the recruitment process, generating a profitable and sustainable revenue stream for recruitment agencies, whilst providing a faster and better outcome for employers. Distinct from CV libraries or online networking tools that have been growing in popularity, Talent Party is a marketplacethat aligns the motivations of both recruiters and employers in a sector that has seen steady fee compression over the past six years. Ultimately, it helps reduce the time and cost to hire.
Talent Party aims to help recruiters to work smarter by allowing them to spend less time on trying to place candidates in roles that don’t exist yet and more time on converting live opportunities and building relationships with candidates. The web-based tool hosts hundreds of thousands of candidate profiles, all of which are verified by recruiters, and employers are able to look through CVs and directly contact recruiters once they’ve identified a candidate they would like to be put in touch with.
The research found that nearly three quarters of line managers (74%) think the recruitment industry could make better use of technology to better service recruitment needs. At present, inefficient recruitment processes are pushing businesses to compromise on the quality of candidates that they hire, with 46% of respondents citing that the process simply takes too long. In almost half of cases (48%), it takes more than two months to recruit someone.
Line managers claimed their biggest stresses at work usually stem from recruitment inefficiencies, such as managing staff who are underperforming (56%), finding staff with the relevant skills to match their business needs (41%) and managing a team that is understaffed (40%). Many respondents reported that unfilled vacancies are resulting in employees feeling overworked (66%), more stressed (54%) and having low morale (42%).
Paul Lyons, an experienced CEO for Asia Pacific specialist recruitment companies, comments: “One of the biggest challenges that recruiters face is the fact that we end up working for free most of the time. Talent Party’s online marketplace replaces our speculative business development with qualified job leads, enabling us to be far more productive and profitable.”
Jamie Carlisle, Founder and CEO of Talent Party, adds: “Recruiters play a crucial role in providing trusted consultancy to employers and by letting employers & lsquo;self-serve’, recruiters can focus their time on live opportunities rather than on cold calls. Better use of technology and giving employers more control will help revamp an industry that has been & lsquo;weathered’ by the jobs crisis.”
Talent Party is already changing the recruitment dynamic in Australia following its launch in November, with over 3 million candidate profiles available and 100 employers on board. So far, over 70 employers have signed up to use the service in the UK and almost 4 million unique candidate profiles are already available in the UK.
For further information about Talent Party please visit: www.talentparty.com