What is a market map in recruitment?

Market Mapping is the analysis of a market, especially competitors, and the employment status of key people who work in it. This helps create an idea of the level of skill and talent competitors have which can help ensure your business is better prepared for recruitment and attracting the best candidates.

How is market mapping done?

To put it simply, market mapping is the art of using competitive intelligence to understand how many candidates are in the market, their average salary, who employs most of them, and what the job-to-candidate ratio is – and then using all of that information to identify the best approach for your sourcing plan.

How do you do talent mapping in recruitment?

How To Map Talent

1. Identify Staffing Objectives for the Future. First, you must align with your leadership team to get a feel for the broader company vision.
2. Assess Current Employee Performance.
3. Use Competitors as a Guide.
4. Identify Key Industry Players and Create a Database of Passive Candidates.

How do you do a marketing recruitment plan?

Tips for creating a recruitment marketing plan

1. Establish your goals.
2. Review your candidate personas.
3. Create a recruitment marketing team and set your budget.
4. Create a plan of attack.
5. Boost your career site.
6. Test, test, test.
7. Review and refine your candidate experience.
8. Use recruitment marketing software.

What would be the benefit of conducting a market mapping?

Market mapping can help many different business functions as well as finding specific information that is seemingly impossible to find. It can also help businesses: Accurately distinguish size and layout of the market or industry. Map recruitment movements within the industry.

How do we gather market intelligence in recruitment?

– During the recruitment process.

1. Developing a sourcing strategy based on targeted companies.
2. Giving feedback on the job description as well as offering alternative or competitor job descriptions.
3. Sharing a realistic snapshot of the market – Projected days to fill. External compensation trends. Employment trends.

What is a market map?

Market mapping is the process of using a graph to plot competitors and their products to understand competitor behaviour and spot a gap in the market . It also allows a business to see who their competition will be and what other products and services are available in the same sector .

How do I create a recruitment marketing plan for my staffing agency?

A Step-By-Step Guide To Create Your Recruitment Marketing Plan

1. Step 1: Define your target market & USP.
2. Step 2: Identify your marketing goals.
3. Step 3: Choose the right tools.
4. Step 4: Set a budget for your recruitment marketing plan.
5. Step 5: Finally, measure and optimize your recruitment marketing plan as you go.

How does recruiting relate to marketing?

Recruitment marketing is a set of tactics or methodologies you can use to market your employer brand to candidates. Done well, recruitment marketing builds awareness and visibility around your company culture to help attract top talent.

What are the five ways to segment a market?

Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.

How does Coca Cola segment their market?

TARGETED MARKETING. Coca-Cola takes every customer as a target, however its segmentation is mainly based on “age, family size and income.” The perfect segmentation was a main factor for Coca-Cola’s success.

How can market mapping help with recruitment?

Market Mapping, can help build up insights, networks and ideas to ensure that, when an organisation needs to recruit they are already ‘ahead of the curve’; able to direct their energy into the right people and the right areas of the market.

What is market mapping?

Market Mapping is outlining the employment setup of the current market – particularly of your competitors. Why Would You Create a Market Map? Free eBook: This guide is filled with essential tips for anyone looking to grow their team and will help you work through every step of the Market Mapping process.

How to develop a recruitment marketing strategy?

Developing a Recruitment Marketing Plan. 1 1. Set Goals. There’s no point developing a recruitment marketing strategy if you don’t have goals to measure your progress and adjust tactics along 2 2. Define Roles. 3 3. Establish Target Candidates. 4 4. Identify Channels. 5 5. Allocate Resources.

What is LinkedIn market mapping and how can it help your business?

LinkedIn has made market mapping significantly easier. Now you can get a rough idea of the roles of your competitors and who is filling the functions in those roles with just a few minutes of searching. Put these into a spreadsheet or a mapping software – somewhere you can save the info and access it later down the track.