The two primary recruitment techniques for product organization structure are traditional and headhunting (part of modern recruitment). Over time, the first strategy gave businesses fantastic candidates, but it has drawbacks. Current hiring practices have emerged due to the development of technology, offering new channels and hiring methods.
An executive search, commonly referred to as headhunting, identifies the best applicant for a post. Employers utilize this tactic to fill administrative jobs, the chief executive officer, and other leadership positions inside the organization. Headhunters are a recruiting agency that assists firms in locating highly skilled people to fill open positions possibly. They typically work for agencies, but businesses may employ them if they need to fill executive roles. The fact that this approach is intended for experts who work for other companies or are not looking for work right now makes it unique. These candidates are passive. Even though it can be difficult, this is a terrific way to identify people with the proper skills and certifications. Companies frequently offer benefits and attractive salaries to get candidates to join their teams. Modern hiring practices have emerged due to the development of technology, offering new channels and hiring methods.
Let’s first examine these traditional hiring practices:
- Newspapers: A large portion of the population reads the newspaper, which has long been one of the most traditional ways to post a job opening.
- Internal hiring: It’s simple, tried, and true to rely on the potential of current employees. So it makes sense to choose one of their own to assume a higher position.
- Local employment office: Posting a position at a local office can attract a large audience and encourage them to apply.
- Temp companies: This is one of the most popular approaches. You hire a temporary job service to narrow down and identify qualified candidates for your business.
Here are a few modern approaches to hiring:
- Smartphones: Smartphones are currently the simplest means of global connectivity. Any page is accessible; recruiters use this to engage with prospects and inform them about their business.
- Social Media: The era of Facebook, LinkedIn, and Twitter is the era of social media. These platforms may be used efficiently to interact with potential candidates because most people use them daily. This low-cost approach also provides you with a sizable applicant pool.
- Headhunting: Headhunters assist in locating the most appropriate candidate for the post of product manager and other higher levels.
- Event recruiting: Businesses support events consistent with their morals and beliefs. This demonstrates their adherence to these principles and boosts their popularity. Such events attract many like-minded individuals and are an excellent way to reach a broad audience.
Since we now know the two approaches, it is time to determine which is applicable in which situation:
- Time: The typical method of publishing job openings in newspapers and other media and getting applications takes a long time. The next step is sorting the applications, which also takes time.
Headhunting, on the other hand, moves more quickly. Applications are received in real-time, and jobs can be posted immediately. By using the program to filter them, sorting by headhunter may be done more quickly.
- Money: With set low-cost recruiting, the newest craze in contemporary recruitment techniques for product-based organizational structure, the hiring procedure has become incredibly affordable. In this scenario, the recruitment consultant works for a very reasonable fixed price based on the package and performs all the duties of an internal recruitment team. The traditional techniques often charge a fixed rate of commission based on the recruited person’s salary from the organization and the job seeker. Compared to the contemporary approach, this is far more expensive.
- The duration of the job posting: Traditionally, print media or employment offices only provide the job posting a brief period of visibility, perhaps a week or two. Headhunting helps filter the best out of the rest and creates A graders for the final round.
Indeed, there are many advantages to headhunting over traditional hiring methods:
- You also aim for unresponsive applicants: Only professionals actively looking for work are the only ones targeted by traditional recruiting. However, headhunters also contact folks who weren’t necessarily looking for a new job. It takes a long time to recruit, and the offer must be made public and advertised for at least a month before you assess all the applications. Few. Headhunters give you fewer applications but are far more pertinent and quickly processed.
- Time and money are saved: You can also save money by using headhunting instead of advertising job opportunities. Although headhunting has its costs, it can be less expensive than those associated with traditional recruiting. You’re looking for the ideal fit, not just a good fit. Finding the individual that ideally matches the job opening and your corporate culture is the goal of headhunting.
- Candidates with unique capabilities are available: The ideal hiring strategy is headhunting when you need to find a professional with a particular set of talents. Indeed, headhunters are equipped with everything necessary to carry out this search effectively.
- Confidentiality is maintained: When a critical position, like an executive leader, comes open, you may turn to headhunt because there is no advertising involved. Because maintaining secrecy in this situation is crucial.
Headhunters get the product managers to prepare for Product Management Interview Questions and Answers and refer them according to their abilities to relevant organizations. This filtration saves much time, as eliminating unwanted profiles from ample applicants is tedious. It would be best if you didn’t fill every opening with a headhunter. However, there are situations when it is your best choice, especially when hiring executives and above.