Executive Search: The importance of market mapping
In executive search, especially within the IT recruitment space, it takes more than a job advert to attract the right people. At TechNET CxO, we recognise the importance of dedicated research services that go beyond the normal recruitment process.
Today, we thought we would talk you through one of our essential services…market mapping! So many companies are searching for top C-Suite talent, though securing them can prove challenging. So, a thorough understanding of the market and planning the process is crucial.
What is market mapping in executive search?
When you begin working with an executive search company, transparency is the key to success. Without the exact requirements you need from the candidates and full visibility of your company, the recruiter cannot help you find the senior talent you need.
The process of market mapping involves evaluating the current market to determine not only the quality of talent but also their availability. Which companies employ the kind of people you want to hire? Is there a specific skills shortage? Are potential senior candidates active in the job search right now? So many questions! However, market mapping will aim to answer as many of these as possible.
The deep research involved needs analytical minds to really understand the industry trends. That’s why an executive search company will do all the heavy lifting for you!
Why market mapping benefits your company
There are so many benefits to a successful market mapping project. Remember, these research services are not only designed to help you in the here and now. Your future recruitment hurdles will be a lot easier to overcome with the analysis from market mapping.
Speeding up the recruitment process without affecting the quality
In executive search, it is well known that recruitment processes can take longer than most. A C-Suite hire should not be rushed. However, market mapping means you will have a great database of pre-screened candidates, making the initial search more streamlined.
Understanding your competitors
The person who is right for your role might be happily employed by one of your biggest competitors. So, the recruiters can provide you with unmatched insights into the corporate structures of your competitors. Furthermore, they will analyse how they attract talent and help you do the same.
Aligning the recruitment process to current industry trends
Many industries, including IT and technology, are so fast-paced. Furthermore, other trends like the cost of living or salary benchmarks can come into play. So, a market mapping project will help you identify these trends and ensure the job description is aligned with these.
Your future recruitment needs
As mentioned, these research services aren’t just for a current search. The market map will identify plenty of ideal candidates, who you can track for future senior hires. Furthermore, it will help you consider what senior hires might be needed as you expand.
Your executive search partner
TechNET CxO is here to help you! Explore our full range of research services to discover what we do. If you’re looking for senior talent, submit your vacancy today and we will be in touch!