Ben Fletcher Advisory Helping Startups

Does TalentPuzzle stop employers from forming relationships with agencies?

It's a question I get asked a lot, so I thought I should try and answer it.  The difficulty is that TalentPuzzle* is a tool and like many tools can be used in a lot of different ways. There are definitely employers that post jobs onto TalentPuzzle that engage agencies through the site, do not talk to them and just invite relevant candidates to interview.  On the other hand there are employers that use TP as a way of finding new agencies, and from that point integrate them into their recruitment process in the usual way.

The first category of people often engage very different agencies each time they use the system, the second type often engage the same agencies.

As a generalisation, it seems to depend on the fee the employer is willing to post: those that are posting very low fees are in effect getting a similar service to a flat-fee recruitment site. They are not paying much in fees, and they will not be getting a great service from the agents: but they will be getting the obvious matches from the CV databases and job boards.

Those employers that pay higher fees tend to engage more with the agencies, speaking to them on the phone and meeting them.  We suggest they do not engage many agencies so those that are engaged are much more motivated to work on the role as the chance of filling it is higher.

Because there is a particular sweet spot for TalentPuzzle in helping companies find agencies for roles that they do not recruit for often, no matter how they went about it they would find it hard to build a meaningful long-term relationship.

*TalentPuzzle is a online recruitment marketplace that allows employers to find the best agencies that are prepared to work at the fees they set.

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Why should you be open about your start-up business model?

Over the years, I've noticed an odd rule: when I met entrepreneurs who will not tell me anything about their business idea, I generally do not see that business becoming successful. On the other hand, many successful businesses have been very open about their strategies and plans.

I can't remember the number of times I've met people who say words to the effect of "I'm launching something in the 'x' space, I can't tell you anything more about it, but you'll know all about it next year", and then I never hear from them again.

I think that this is primarily because if you do not tell anyone what you are planning, you don't open yourself up for constructive critisism.  Particularly if you think you have a great idea that no one else has thought of.  There are very few of these ideas around, so it is much more likely that someone (or several people) have tried it and failed, or just dismissed the idea after some research - you won't see anyone else doing your idea, but not for the reason you think.  You also miss out on advice and suggestions that could improve your business.

Generally successful startups are in growth markets and a number of similar companies will be launching at the same time: if not, I'd be sceptical of the quality of the idea, and it's also worth bearing in mind that launching a brand new concept is very hard and you'll need to be very well funded.  Why is that? Basically because competitors grow the market by informing more people that your type of product/service exists and create a demand for it.  It is much easier to sell to someone who is already saying that they need, say, shared online workspaces than it is to explain what one is to someone who has never heard of them and then sell it to them.

Obviously there is always commercially sensitive information, and you have to know where to draw the line, but you don't have to be totally secretive.

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Talent Puzzle, the future for recruitment agencies?

The Talent Puzzle model could change the way that recruiters use agencies for good.  The idea is simple: recruiters specify the fee they are prepared to pay to fill a position and then post their jobs onto the site.  Agencies then submit candidates for consideration, and by doing so agree to a standard set of terms (including an eight week full money back guarantee if the candidate isn't suitable).
From the recruiters' perspective they get access to a huge range of candidates without having to agree terms seperately with scores of agencies. From the agencies' point of view they do not have to dedicate so much resource to generate business from recruiters - enabling them to offer candidates at lower rates and with more generous terms.

This obvious win-win will make Talent Puzzle one to watch in the years to come

www.talentpuzzle.com

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