Newsletter: January 2004
Most AEC firms are now finalizing their 2004 budget plans, but if you haven't earmarked funds for recruiting yet, you're leaving out a critical component to ensure growth this year. With many signs of an improving economy coming to light recently, there's a good chance that your firm will soon be landing more business. The big question: Will you have the staff to handle it?
In an ideal world, well-qualified workers would peruse your firm's Web site, take note of all the positives about working for your firm, and fill your inbox with impressive resumes. In reality, you know that you'll have to be more proactive to attract the best people. There are several ways to do that, and they cost money, so you'd better have the funds to pay for recruiting available if you plan to grow in 2004.
There are four main channels that companies use to recruit new employees: Print ads, Internet, referrals, and 3rd party recruiters.
Print has lost luster
Print advertising has been the traditional channel for most firms recruiting efforts, but many find that print ads don't generate the number of qualified candidates that they have in the past. "I find that many of the traditional hiring practices don't work anymore," says Nick Martorano, president of Martorano Associates, a Melrose, MA-based business advisory firm. "Newspapers, especially, don't work very well."
That may be because there are many other outlets for help wanted advertising today and newspapers don't command the attention of as much of the adult population as they used to do. And with a single Sunday newspaper ad in a major publication running $2,000 and up, this option isn't cheap.
Internet is time consuming
Internet job boards such as Monster.com can certainly bring a flood of resumes these days. And that's the problem. "I sometimes help clients with job searches and end up looking through 200 resumes," Martorano says. That can be a slow, time-consuming experience. Monster.com, too, isn't a low-cost option either. A basic package from Monster.com includes access to its nationwide resume database and twenty ad postings for twelve months for just over $12,000, a substantial investment.
Networking is effective, but limited
Networking and employee referrals can be the most effective, and inexpensive recruiting method. Many companies offer employees bonuses for recommending a friend or acquaintance who ends up getting hired. These bonuses typically range from $200 up to $5,000 for a high-level position. The advantage with referrals is that the candidates' qualifications and work habits are usually fairly well known to someone in the organization. The problem with this method is that it greatly limits the pool of potential candidates.
Outside recruiters turn up highly qualified candidates
Using an outside recruiting agency is a method that some AEC firms may have been reluctant to choose in the past, but those reservations are diminishing. Though hiring a recruiting agency is a significant investment-the going rate is 25%-30% of the starting salary for the position-a recruiter often finds several highly qualified candidates who wouldn't otherwise hear about the opening.
"When I've worked with recruiters to fill key positions for clients, we've had fewer candidates, maybe three versus 60 who you might get through job boards, but there was an excellent chance that one of the three would be the right one," Martorano says. Although recruiters' fees used to give Martorano pause, he now believes the results justify the expense in most cases. "I'm usually driven more by benefit than by cost," he says. "If I can see the payback, I don't get too upset by the fee."
Structural Engineer with P.E. - Energetic candidate with 20+ years vertical structures design experience. Masters in structural engineering. Extensive commercial, institutional structures design experience. Candidate is in the mid-Atlantic, but is willing to relocate.
Construction Litigation and Claims Consultant - Four years experience with claims analysis, CPM scheduling. Candidate is willing to relocate and has a very stable work history.
Higher Education Architect (Central New Jersey Only) - Registered Architect with 10 years of experience working on college and university design projects. Registered Architect in New Jersey.
Civil Engineer (Land Development P.E., Pittsburgh area only) - His specific areas of expertise include land development (site, earthwork planning/grading, utilities, stormwater management, erosion + sedimentation control, design calculations, and permitting); hydrology + hydraulics; potable water, stormwater, and wastewater planning, modeling, and analysis; local road design; and construction project administration. Candidate's work has been for a variety of clients including various commercial, residential, municipal, public, and private projects.
Marketing Director Willing to Relocate - Twenty-four years of experience in marketing and sales planning, business development, business communications, and staff management. Experienced in all aspects of collateral development, promotion, marketing communications, strategic planning, budgeting and scheduling, sales team preparation, and staff development and evaluation. Work with executives, multidiscipline engineers, planners, architects, and management consultants. Lead large project pursuits and proposals for private sector clients and public agencies. External clients include infrastructure, transportation, industrial facilities, power, water, mining, R+D, and petrochemical markets. Frequent contributor to professional association and marketing publications.
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While most firms this time of year solidify marketing budgets, strategic plans, and other matters geared to boost business, they often neglect an important growth component: recruiting. In our business, our staff is our vital raw material. Without enough skilled people, growth is next to impossible.
| So, take some time to assess how many new hires you'll need this year. Then, factor in the cost of these hires by analyzing how you can best fill those positions with the most qualified workers. The important thing to remember is that no matter which method(s) your firm uses to find the right people for key openings, recruiting is going to require some expense. It's better to anticipate this expense and set aside money for it in advance. |
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