Recruiting market segmentation is one of the significant course of action while building a quality sourcing engine. A recruiter cannot just fill the positions if they do not have a targeted outreach of strong networking.
The entire recruitment market ecosystem is faced with changing priorities. Finding quality candidates in the market is really difficult and HR Managers have to try spic-and-span methods of recruitment in order to find best candidates.
A corporate market recruiter has to face so many difficulties while filling an open position. So, recruiters rely on talent market segmentation which eases their workload by allowing them to focus on their effective recruiting efforts.
In this article, we will look at the entire recruitment market ecosystem segmentation that is widely used to find best possible candidates.
Segmentation based on competitors
Recruiting any candidate directly from a competitor can always be a double benefit. Because while you hire their top candidates, you are actually creating a gap for them with their job positions. Also when you hire such candidates you get more effective results because these types of candidates are those who are actually looking for a relocation. But still, recruiting from competitors is a traditional way of recruiting that can be very effective and should not be overlooked.
Segmentation based on industry
In the recruiting area or context, these types of the segment are often referred as feeder organization. These are those organizations from which a recruiter can systematically pull talented talent. This particular market segment does not include direct competitors.
Segmentation based on function
Being a recruiter you know very well that the same type of skills does not work for every profile. For example, a graphic designer might not have the same skills as any financial analysts. This requirement opens up new off industry targets within the local geography. It also saves money in the recruiting process because a candidate from other industry can be available at a lower salary.
Geographic based segmentation
On its own, geographic-based segmentation are not meant to provide 100 percent targeted results. This type of segmentation is based on if the recruitment process is divided on the basis of geography. You can geographically segment a recruitment market by its areas, such as cities, counties, countries and regions.
Psychographic based segmentation
This type of segmentation is sometimes called as ‘hiring for culture’. Basically, sometimes a recruiting firm finds such organization in different industries that have valuable corporate cultures similar to their own. Employees of these organization can shift easily into our organization because they share the same values and attitude.