Assessing Your Competitors' Recruiting Efforts

As a recruiter, you probably want to attract and hire the best people available to fill positions in your company. But in your quest for the best, you're in direct competition with other companies. Therefore, you should take the time to learn about your competitors' recruiting efforts.
Having a thorough understanding of the "enemy" takes time and effort, but it has its rewards. You will know where you stand in comparison to your competitors, you'll know your strengths and weaknesses as well as their strengths and weaknesses, you'll know what recruitment techniques work for your competitors, and you'll know what you're up against in order to develop an effective recruitment plan. You can use the following strategies to learn about your competitors' recruiting efforts.

1. Find out what compensation they can offer.
First, you should find out what compensation your competitors offer. By learning this information, you can determine how you measure up in comparison. Questions you should ask are:
What salaries do they offer?
What type of benefits package do they offer?
What kind of training and career development do they offer? By asking questions about compensation, you can determine what you can offer that your competitors can't or won't offer. It can also help you determine which areas of your compensation package need to be improved.

2. Find out about their recruitment approach.
Your competitors' recruitment approach is the second thing you should learn about. Do they recruit college students from big schools? Do they go after your employees or those of other competitors? What newspapers and job boards do they advertise in? How do they use their Web sites to recruit?
Learn what's working for them, and decide whether those methods can work for you. If you can't recruit the way they do, rethink your approach. Go to smaller colleges, advertise in different papers, and spiff up your Web site.

3. Find out about the differences between you and them.
The third strategy involves learning about your competition to find out what makes your companies different. What are the differentiating factors that would make a candidate choose to work for you over your competition?
For most workers, the work environment is most important, followed by fair compensation and recognition. Other issues, such as telecommuting, the dress code, the corporate culture, management styles, recognition programs, and how fast a new recruit can be brought on board are differentiating factors.
So how can you find out about your competitors' compensation packages and recruitment approaches, and the differences between your companies? You can learn this information by talking to your counterparts at other companies when you attend conferences and seminars. Ask these people what they offer and what they do to attract workers. And keep track of whom your employees are leaving you for by using exit interviews.
Remember, you're in competition with many other companies for the best job recruits. By taking the time to learn about your competitors' recruiting efforts, you'll be better able to focus on your own advantages, address your disadvantages, and ultimately create a program that helps you attract the best candidates.