How Market Mapping Can Help You Identify and Attract Outstanding Talent

Market mapping is a key tool used to identify, assess, and approach potential candidates for leadership roles. It is a process that involves researching and analysing the competitive landscape in a particular industry or functional area, and using this information to identify the top candidates for a given role.

There are several reasons why market mapping could help your organisation:

1. It helps to identify a diverse pool of candidates: Market mapping is used to identify a wide range of potential candidates, including those who may not be actively seeking a new opportunity. This can help to ensure that the final candidate pool is diverse and representative of the broader market, rather than just comprising a small group of individuals who are already known.
2. It helps to assess candidate fit: By understanding the competitive landscape and the key players within it. This helps assess whether a particular candidate is a good fit for a given role. This includes evaluating their skills, experience, and career track record, as well as their fit with the company's culture and values.
3. It helps to build relationships: Market mapping allows the opportunity to build relationships with key players and potential candidates in a particular industry or functional area. This can be especially important for identifying top talent who may not be actively seeking a new opportunity, as it allows us to approach them and present them with a compelling case for considering a change.
4. It helps to identify emerging trends: By analysing the competitive landscape, it can identify emerging trends and shifts in the market that may impact the availability or attractiveness of certain types of candidates. For example, if a particular skill set or industry sector is becoming increasingly in demand, this may present an opportunity for us to identify and approach candidates with relevant expertise.
5. It helps to optimise the search process: By thoroughly researching and analysing the market, we can optimise the search process and increase the chances of finding the best candidates for a given role. This can help to reduce the time and cost of the search process, and improve the chances of a successful hire.

Overall, market mapping is a crucial tool as it helps to identify and assess a diverse pool of qualified candidates, build relationships with key players in the industry, and optimise the search process. By conducting thorough market mapping, it can increase the chances of finding the best candidates for leadership roles, and help organisations make better informed hiring decisions.

Over the last 12 months, i’ve found an increasing number of clients approaching me to discuss a market mapping project for a key role. Particularly with newly created roles or in growth areas to help them ensure they are pitching the role at the right level to attract the right calibre of candidates.

If you’d like some ideas on how to attract top leaders to help you deliver on your organisation’s goals over the next 3-6 months, then drop me a private message or email at [email protected]

Check out our Talent Acquisition Scorecard. It's designed to give organisations an insight into what's working in their talent acquisition and areas for improvement. Check it out via the link below.

https://talentscorecard.scoreapp.com

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