How to Choose a Talent Solution Provider
To increase cost-efficiency, many organizations are turning to talent solution providers (TSP) instead of employing people to do 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 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 are all tied to a budget, but that doesn’t mean the least expensive TSP is your best choice, 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 a TSP, finding the right talent will be a more accurate process, considering that these providers are experts in the job.
Industry Reputation and Reach
If a TSP claims to be the best, they should prove that they’re telling the truth. Before committing to anyone, check how much experience they have – more means stronger industry ties and a greater ability to attract quality talents. 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. You will likely pay more, but this can be easily offset by the precious time you save.
One of the things you should consider when choosing a TSP is its size. You should obviously choose one that fits your needs. You will find lots of TSP’s with different sizes. Larger ones are generally more established, but with a smaller one, you may get more focused and well-tailored services specific to 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 want a long-term contract off the bat, you may want to take your business elsewhere.
We all know that human talent is what really makes an organization work. The right TSP can instantly boost your chances of finding your industry’s cream of the crop, faster than you ever could.