Last week I went to the shops because there was a toy sale. It was the first day, so there was a toy overflow on the shop floor.. lots of people, parents with strollers filled with screaming kids, and me.The main attraction: the prices and supply were both good.
I went there mainly to lay-by toys for Christmas. Now, don’t get the idea that I am a fab planner and the ultimate smart buyer; the thing is if I don’t put these toys away now, I will never see them for the rest of the year, let alone closer to the Christmas season. The lay-by area of the shop was packed. You have to make an approx. 10% deposit of the total price, and few a couple more payments before picking the goods up.
I thought that maybe the store was leaving money on the table, that the discounts were too good for toys which people were effectively buying for the holidays. But, what is the shop gaining?
For starters the toys had to be picked up in November, until then they were not available. In reality the layby numbers were giving this people great marketing intelligence, which also impacts logistics, floor space utilisation, triggers other campaigns, etc.
How would lay-by work for recruitment?
- Employers would let agencies or their internal recruitment teams know the professionals they need 6-8 months in advance of actually needing the person
- External recruiters would charge 10% of the agreed fees; internal one would get an inter-department journal crediting their expenses.
- I am not sure if it would be necessary to discount fees significantly but if you take the cost of money, the upfront ‘deposit’ could enable an agency to reduce fees in accordance to their average financing costs
- Recruiters would work with significantly larger lead times to fill roles, with better understanding of the clients’ talent demands, and therefore with a more focused approach to talent sourcing
Do you think this would improve the timely supply of talent?
Is it realistic to know people requirements six months in advance, other than sudden departures, etc.?
What are the real-life show-stoppers to recruitment lay-by that you can foresee
* lack of trust that the recruiter will actually find the right person?
* hiring managers changing their minds?