What to Consider When Choosing a Talent Solution Provider
The demand for talent solution providers (TSP) has increased in recent years, with organizations realizing the efficiency of outsourcing the task compared to hiring their own people. But because not all TSP’s are the same, you have to know how to tell a good choice for your specific needs.
Cost is a big concern for anyone hiring a TSP. After all, you should first ensure that you can afford the company before you hire them. It is even more important, however, not to make cost your sole basis for choosing 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. Based on a US Department of Labor estimate, hiring the wrong talent costs almost 30% of their first year salary. Because TSP’s are composed of experts, you can be assured of a more accurate talent-hunting process.
Reputation and Reach
If a TSP claims to be the best, they should prove that they’re telling the truth. Before you hire anybody, check how long they have been around – the more experienced they are, the more ties they have in the business, and the better the talents they will attract. Of course, the TSP’s’ reach is just as important. 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.
One of the things you should consider when choosing a TSP is its size. Certainly, you have to choose one that is suited to your needs. There are several TSPs nowadays, and they come in different sizes. While larger ones are often more established, smaller ones can usually provide more customized industry-specific services, depending on your industry.
When you find a TSP you’re interested in, see if they have a pilot program or can provide for a few current positions just so you can “test” them out before proceeding to a long-term contract. Most probably, they will view this as a chance to get a new client and be more likely to accept your indirect proposal than reject it. 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. With the right TSP, you can be sure of finding the most brilliant candidates, regardless of your industry.