How to Choose a Talent Solution Provider
Many organizations now rely on talent solution providers (TSP) rather than employing people for the job. But of course, not all TSP’s are the same, and you have to know how to choose the right one for your needs.
Cost is always important when hiring a TSP. After all, you can only work with a company you can pay. However, it’s even more important not to obsess on the price when picking that company. We all need to control our spending, but that doesn’t mean that the lowest-priced – or even the priciest – TSP is your best option, and neither is the priciest. According to the US Department of Labor, companies that hire the wrong talent pay almost 30% of that employee’s first year salary. With TSP’s being composed of experts, you can expect your talent search efforts to be safer and more accurate.
Industry Reputation and Reach
If a TSP says they’re the best, they need to be able to back it up. Before hiring anyone, make sure they have been operating long enough to have established ties in the industry and attract high-calibre talents. The reach of the TSP is naturally as crucial. If you are unable to find the right talent locally, TSPs will have access to a bigger talent base.
If the candidate you’re looking for must possess highly specialized skills, such as data analytics or life sciences, choose a specialist TSP. The fee will likely be higher, but it will be worth the time you save.
Among the things to be considered when selecting a TSP is its size. Certainly, you have to choose one that is suited to your needs. You will find lots of TSP’s with different sizes. While larger ones are often more established, smaller ones can usually provide more customized industry-specific services, depending on your industry.
When considering a TSP, check if they have a pilot program that allows you to “try” them with a couple of current positions, before moving into a long-term contract. Most probably, they’re going to look at you as a new client and will be more than willing to give your indirect proposal a try. If they insist on starting with a long-term contract right away, you might want to reconsider.
As we all know, human talent is any organization’s most important resource. By choosing the right TSP, you automatically have a more efficient way of finding the cream of the crop in your industry.