Recruitment in Motor Finance
THC Recruitment are industry experts within asset and motor finance recruitment we work with clients and candidates in their search for that right opportunity or the right talent.
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We offer ancillary recruitment tools as part of our bespoke client solutions and candidate services. These services include: salary surveys, market research, portfolio acquisitions, team moves, interim management solutions, psychometric testing, and competency based interviewing.
The Motor Finance market saw many changes in 2019 especially from the FCA who proposed a ban on discretionary commission. The Financial Conduct Authority (FCA) has singled out commission models as a concern that could lead to market intervention, as part of its long awaited report into the motor finance sector.
The FCA is assessing the options for intervening in the market which would address the supposed harm it has identified. This could include strengthening existing FCA rules or other steps such as banning certain types of commission model or limiting broker discretion.
Julie Ramsay, Managing Director of THC Recruitment
Changes such as this do have an impact on talent and retention of key staff. In this fast and changing market, developing a relationship with a specialist recruitment partner who can give competitor insight and market analysis, as well as quality service and top candidates is key.
For some, investing trust and money in a recruiter may seem an antiquated and unnecessary method of finding candidates. It is 2020 after all. Surely utilising social media and posting on job boards is enough to reach the people you want and watch the applications roll in? You might fill a few positions but we believe a relationship with an industry specialist recruitment partner adds value in ways you may not have considered. Here are five of them:
1. Recruiters speed up the process & save you money
Keeping a vacancy open is costly, not only because of the ongoing costs associated with advertising on job boards, but in lost earnings too. Studies show that good employees generate 3-5 times their annual salary in value. So, let’s do some basic maths: If you leave a £50k role vacant for just one month, a business could lose upwards of £12,000. Recruiters are focused on nothing else but filling those types of roles, they are familiar with the process, and quick to filter out unsuitable candidates. As a result, your vacancy gets filled sooner and lost earnings are reduced.
2. They offer role focus and definition
By using a professional recruiter, you get access to their market knowledge. They will know your sector well, and will therefore know what your competitors do, hire, and pay. Not only that, but they know which candidates are out there and what they are looking for. This information can be invaluable when it comes to attracting the right talent for your business. A simple change of job title, or a rethink on the salary could make all the difference in filling your vacancy with the best talent.
3. A recruiter frees you up to do your job
There is no doubt that social media (LinkedIn particularly) has made searching for candidates easier, but this still takes time. Would you rather your hiring manager spends their time looking for candidates in this way, or doing their actual job? Just because LinkedIn makes it possible, doesn’t mean it’s the best use of your time, or a great business decision.
4. They know where to look and how to generate interest
We are in a candidate-driven market where often the best talent isn’t openly applying for jobs or posting their CV online. Targeted Search enables our clients to meet the “Passive Candidate”. This individual is usually happy in their current role, highly valued by their current employer, and not necessarily looking for a new job. This is where search based recruitment comes in –identifying candidates who may move if right opportunity is presented to them. As a business, your access to this passive talent is limited, but an experienced recruiter knows how to find them and confidentially approach.
5. Guaranteed Results
Working on an exclusive or retained basis and building trust guarantees results
To sum up: a recruiter is “out there”, talking to candidates daily, evangelising about your company without you having to move a muscle. Whatever your personal feelings were at the start of this article, we hope you can see it makes good business sense to use a recruiter, especially when you find one you like and trust.
For any further tips or assistance with recruiting your next team member call our team on the number below or for all the latest updates, news, and vacancies.
Marketing Manager – Europe
Phone: +44 (0) 1279 713 900
Thought Leadership Sponsored by THC Recruitment