The Secret to Successful Recruiting: Market Mapping

The Secret to Successful Recruiting: Market Mapping

I think recruitment without market mapping is like shooting in the dark.

Recruiting can be sometimes challenging as it requires a lot of research, planning, and strategy. Finding a candidate who not only have the right skills and experience, but can also fit into your company culture and vision.

But how do you know where to look for them, and how to attract them?

My answer to that – Market Mapping.

To put it in simple words, It helps you understand your market better, find the best talent faster, and stay ahead of your competitors. Not only you gain valuable insights into the job market & identify potential candidates, but is able to develop a comprehensive recruitment plan.

Get ready with your Excel, as here we begin:

Clarify your purpose: Before you start your analysis, you need to establish your objectives like What are the positions you are looking to fill? What are the skills and qualifications you are looking for? What are the challenges and opportunities in your market?

Identify your competitors and target audience: Once you have clarified your purpose, you need to collect data on the companies and candidates that operate in your market. You can use online sources, such as LinkedIn, social media, or industry publications, to find information on company profiles, employee profiles, salary trends, job titles, and skills in demand. You can also use networking events or referrals to get more insights.

Plot those chosen competitors and candidates: After collecting the data, you need to organize it in a way that makes sense for you. You can frame a chart to illustrate your competitors and candidates on axes such as price, quality, reputation. This will help you see your spot in the market, and what are the flaws or opportunities that you can utilize.

Analyze the results: Based on the data visualization, you can analyze the results and draw conclusions. You can identify the strengths and weaknesses of your competitors, as well as their hiring practices and strategies. You can also identify the potential candidates that match your criteria, and their level of interest and availability.

Build relationships: Once you have identified potential candidates, you need to build relationships with them. You can use any methods, like emails, phone calls, or social media messages, to introduce yourself and your company. You can also use tools like Podium1. You should aim to create a positive impression and establish trust and rapport with them.

Next time you recruit, better make informed and strategic decisions.

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