How to Choose 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. However, TSP’s are not all created equal, and you need to know what makes a good one for your 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. However, what’s even more important – ironically – is to avoid focusing too much on the price when selecting 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. Because TSP’s are composed of experts, you can be assured of a more accurate talent-hunting process.
Reputation and Reach
If a TSP says they’re the best, they need to be able to back it up. 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. Definitely, the TSP’s’ reach is just as crucial. If you can’t find the right candidate, you can rely on TSPs, which will have access to a much wider talent base.
If you’re searching for a highly specific type of talent – for instance, a diagnostics or laboratory services expert – then the services of a specialist TSP’s will be of great value. The fee will surely be higher, but that should be negligible if it means the process becomes much more efficient.
A TSP’s’ size is something you should also look into before choosing it over the rest. Certainly, you have to choose one that is suited to your needs. There are many TSP’s of varying sizes out there. Larger ones are generally more established, but with a smaller one, you may get more focused and well-tailored services specific to your industry.
If you’re considering a certain TSP, ask if they offer a pilot program where you will be able to “test” them for a few current positions before signing a formal, 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.
We all know that human talent is what really makes an organization work. By choosing the right TSP, you automatically have a more efficient way of finding the cream of the crop in your industry.