As you make your talent plans for the coming year, it’s likely you’re considering adding new positions or hiring to fill vacant roles. Depending on your organization’s needs, time constraints, budget and the urgency to fill, you may be considering whether a recruiting firm is right for you. Our team works with numerous hiring managers and internal recruiters throughout the insurance industry to help them find the right talent year-round. In this edition of Recruiter Report, we’re sharing our insights to help answer the question, “What should you look for in a professional recruiting firm?”
Recognize when external support is necessary.
Even with a strong internal recruiting team, there are situations where it is advantageous to seek an external recruiting partner. The right recruiting firm can save you time, expand your network and provide you with valuable market insight. This is especially true in the current insurance labor market, where unemployment remains low and it’s often necessary to engage passive candidates. Here are a few initial questions to help determine if using a recruiting firm is right for you:
- Has the role been open for an extended time period?
- How critical is the role to the success of your organization or team?
- Does the position require highly-specialized expertise?
- What have you already done to identify talent?
- Is it a confidential search?
- Do you have the internal resources and bandwidth to effectively recruit for the position?
Identify the right partner.
When using a recruiting firm, it’s essential to partner with one that can most effectively meet your needs. Consider the following areas:
Industry expertise: Many insurance roles require specific skillsets and technical knowledge. Unlike most generalist firms, insurance-specific staffing firms offer recruiters who understand the nuances and technical expertise needed for specific roles. Additionally, they can provide realistic expectations on your search based on the state of the insurance labor market and help you remain competitive.
Access to a broad network of talent: The right insurance-specific firm will also have a broad network of insurance talent. This provides a more targeted search, as well as access to a wealth of individuals who are otherwise not looking for a new position.
Relationship-focused approach: Using a staffing firm should feel like a true partnership, where everyone has your organization’s best interest in mind. Look for a firm that is available for questions, straightforward with you about potential challenges within your search, and proactive in adjusting and adapting as needed.
Thorough process: A firm that prioritizes quality over quantity will ultimately save you time and energy. This means asking the right questions upfront to thoroughly understand the requirements for your open role, and performing in-depth screenings to ensure you’re only presented with strong candidates.
As you talk with potential recruiting partners, these questions can help gauge whether they have the industry knowledge, network and process required for success.
- What similar roles have they filled or are they currently working on?
- How confident are they about their ability to successfully fill your role? What do they foresee as potential challenges?
- Are their expectations realistic for the current market? Can they provide insights into the competitive landscape?
- How do they ensure they are aligned with your expectations, from culture fit to the role's technical requirements?
- What is their estimated timeline for presenting candidates, and how do they ensure quality?
- How do they incorporate your feedback to stay on track?
If a firm seems too good to be true, or you start working with a firm and are not seeing your desired results, look for these few common red flags:
Unrealistic cost: As with most services, if you make a decision based on cost, it is likely you will get what you pay for.
Limited reach: Especially if you are recruiting for a specific skillset, hiring on a national level or offering remote work, having a broad reach is essential. Local and smaller recruiting firms often have contacts in your specific market, but will not have the network of talent that a national firm does.
Unrealistic deadlines: If a firm says they can provide candidates in just a day or two, it’s not likely they have a thorough screening process, which ultimately can waste your time interviewing individuals who are not right for the role.
Inability to find qualified candidates: We often hear this from insurers who have worked with generalist firms, as a result of the firm lacking in-depth market expertise and insurance-focused networks.
Commit to a collaborative partnership.
Once you’ve identified the right firm, do your part to make the partnership as successful as possible. Be open with information about your company’s culture, team dynamics and workstyles.
Consider sharing the employees that you’ve found to be most successful in similar roles and the qualities that set them apart. Be realistic with the state of the marketplace and open to feedback around how competitive your approach to workplace flexibility, compensation and titles/level may be. At the same time, ensure you’re providing thorough feedback on candidates to help guide the process.
Working with the right recruiting firm is often key to successfully filling an open position. By assessing your needs, finding the right partner and remaining collaborative, you’ll be able to find the best individual for your open role. For more insights on recruiting in the current environment, view our past editions of Recruiter Report.
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