TalentReachô ó todayís take on headhunting

Launching a new recruitment service in todayís economic climate might seem like business suicide; that a redundancy service would be more feasible. ìNot soî, according to Kelly Magowan, CEO of Six Figures, a successful Melbourne-based online job listing service for people earning more than $100,000 a year. ìWe are launching our TalentReachô service in response to requests from clients who need a new model for finding high-level talent in these difficult timesî.

Apparently even while companies are pruning their workforces, many still need to take on people, especially at the higher levels. And they need to do this quickly, discreetly and, because of tightened budgets, cost-effectively. Traditionally, headhunting through a recruitment agency was the way to find professional and executive staff. But itís an expensive way to goóand even more so, if the right person isnít put up for the position.

TalentReachô is a pay-for-performance service. Ms Magowan says that, ìShould Six Figures not be able to provide a client with at least two suitable applicants within a month, there is no feeî. And when they do deliver, which they expect to do 99% of the time, the fee is still less than, would be payable to a recruitment agency.

Six Figures already has a huge base of vetted members registered with them for their job listing service. Many of these members are known as ëpassiveí job seekersócurrently employed but keeping an eye on the job market. Clients register to advertise, are vetted, and then members can apply for jobs they are interested in.

TalentReachô goes one step further. Clients who are interested in this service lodge their job details and advise the level of confidentiality they require. Six Figures then uses its proprietary search software to match job requirements with member qualifications and attributes. Next one of their Human Resources specialists reviews the matches to come up with a short-list. Short-listed members are contacted and, if interested, their details are passed onto the client. So itís a service that offers confidentiality and discretion to both sides of the employment market.

Ms Magowen is confident that TalentReachô will soon be booming. ìItís a market where businesses are still hiring and need an ëA-teamí to stay competitive. However, many cannot afford to be paying placement fees that can equal more than 20% of first year salary. And 80% of our members are currently employedóa large ëpassiveí group of talent from which employers want to headhunt.î

A number of top organisations have already expressed a strong interest in using the service when it launches in mid-April. Ms Magowan says, ìEven recruitment agencies are keen because of the value that TalentReachô offers. You canít hire executives and senior professionals in the same way that you would hire other personnel, because of the intangible nature of the skills and experience they bring. Whilst rsum-mining and key word matching is valid for some jobs, such as graduate recruitment, call centre staff, itís not very effective for key senior staff. So TalentReachô can offer employers a pool of vetted high salary earning candidates to supplement their own searchesî.