I’ve just finished reading Deloitte’s Positioning for prosperity? Catching
the next wave report, the third paper in their Building the Lucky Country
series. This report includes the actions
that businesses and governments can take to position their organisations, – and
ultimately, Australia – for prosperity.
25”. These are the themes of future prosperity – sectors that will see
significant growth and opportunity. In addition to Mining and the
“Fantastic Five” (Agribusiness, Gas, Tourism, International Education
and Wealth Management), it gives an overview of an additional 19 “pockets
of growth” across the economy.
least, was the section Creating opportunities for growth in which
Deloitte identified the five major areas that Australian businesses need to
take action on to ensure they are able to take advantage of the potential
growth opportunities that come their way. Deloitte calls these the ‘prosperity
what the report said in explaining ‘competency advantage’:
talent and/or business practices:
high-quality talent (my bold)
detailed comments about each of the identified prosperity drivers. Under
competencies. A rapid way of increasing a company’s competitive advantage is
to develop superior talent. The focus here is on enhancing recruitment,
motivation, day-to-day management and training practices to find, retain and
develop the best people .
embedded and institutionalised within the organisation . They should also be
complemented by innovative and incremental improvements to business processes
that support greater productivity.
can partner with third parties to expand their areas of competency and
create unique capabilities. This might include forming alliances with
technical specialists , and outsourcing commoditised work that doesn’t
deliver an opportunity to differentiate.
from outside of the recruitment industry has made these, very considered,
observations and recommendations. I firmly agree with what Deloitte has said.
These comments are very pertinent to the long term and profitable future of the
that the recruitment industry needs to make if we are to continue as a valuable
and profitable sector in the long term; we have to become genuine recruitment consultants.
consultants for many years but the reality is that very little genuine
consulting has been delivered as evidenced by the fact that only a tiny minority
of recruitment agencies have been charging for their time or technical
expertise. Invoices for ‘services rendered’ have been issued on a success-only
basis ie if you deliver the successful candidate for the vacancy you can send
an invoice for a fee, regardless of how much ‘technical expertise’ you
delivered, how much genuine ‘consulting’ you provided or how much time you
business model, and the concurrent idea of developing genuine recruitment
consulting services, are not new topics for me, or other prominent recruitment
bloggers. I have written about this topic in 2013, 2012, 2011 and as far back as 2009.
month which generated a long stream of comments.
I don’t think I can articulate the opportunity for recruitment agencies
any better than I did almost exactly two years ago (04/04/12) when I published RPOs: agency threat or opportunity?
Hub conference in Sydney.
down to honestly answering a critical question: ‘Do I want to be a
transactional recruitment partner or a strategic recruitment partner to my
future profit because you will have to be very clear about, and take the necessary
offerings and pricing
recruitment and development of talent
remuneration and reward structures
made – now.
recruitment industry’s profitable