How do you map a recruitment market?

How do you map a recruitment market?

What Is Market Mapping and How Do You Do It?

  1. Figure out who to hire next.
  2. Identify and attract high quality passive candidates.
  3. Keep tabs on people you meet.
  4. Identify your competitors.
  5. Decide what information you need to know.
  6. Research the roles and folks who have them.
  7. Get Additional Information.

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.

What is meant by market mapping in business?

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 is talent mapping done?

Talent mapping involves finding the right talent, putting talent in the right roles, and retaining top talent through career pathing. It’s a continuous activity that grows and iterates with the business as needs change.

What are the benefits of market mapping?

What are the benefits of Market Mapping?

  • Accurately distinguish size and layout of the market or industry.
  • Map recruitment movements within the industry.
  • Create competitor profiles including incentives, company size and recruitment activities.
  • Map the market movements and trends that can be exploited.

What should a market map include?

Market mapping process in three, comprehensive steps….In broad terms, your value proposition and product features should be continuously confronted with the following market players and their offerings:

  1. Competitors (direct and indirect)
  2. Vendors.
  3. Academia and Research Centers.
  4. Venture Capitals and Accelerators.

What is an example of market mapping?

The market map illustrates the range of “positions” that a product can take in a market based on two dimensions that are important to customers. Examples of those dimensions might be: High price v low price. Basic quality v High quality.

What is the 9 box grid?

The 9 box grid is an employee assessment tool that divides and plots employees across 9 key data points. It is a grid-based system used to evaluate employees’ performance levels and potential for growth to fit them into each of these 9 segments.

What are the disadvantages of market mapping?

Disadvantages of positioning maps

  • Just because there is a “gap” doesn’t mean there is demand for the product.
  • Not a guarantee of success.
  • How reliable is the market research that maps the position of existing products based on the chosen dimensions?