Doing what you have always done is a recipe for recruitment disaster
Once upon a time there was a company that everyone used. Everyone knew them and they were very very successful indeed! People used them every day, new companies built their business around them and they made lots of money as well. They were synonymous with the industry they represented, and still have a wealth of patents and innovations that the likes of Google, Apple and Facebook are trying to get their hands on.
They had it all. A great brand, products and a large market share.
Then things changed.
The mobile phone arrived, and with it so did the rise of the social networks. No problem they said, 'we have a great product, great brand, market share and people love us'. So they carried on doing what they always did. Sure they thought about changes, but why change what already works well - from their own perspective anyway.
All around them innovation was happening, technological advances seemingly every week. New products and services were eroding market share week in week out, as new generations of people were now bypassing these 'great products' completely.
New methods, tools, networks and delivery mechanisms were everywhere. Change was here, with no turning back.
The death was quick - too quick for such a great brand. Kodak were bankrupt.
Failure to recognise change, market demand, users changing methods of use, lower pricing models, widely adopted technological advances and peoples attitudes to the old ways of doing things brought the demise if such a great company.
Now just think a minute……
Recruitment agencies, ATS providers, recruiters, job boards, advertising agencies, recruitment software providers, interim consultants and other suppliers to the recruitment industry.
Many big brands. Many long established brands. Many good products.
Isn't that what Kodak had?
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Comments 4
Jacob Sten Madsen
Well said and in some of the best companies in the world they actually have teams or structures so that for every client case they ask, so what did we learn, what can we do better? Good friend of mine runs a finance company. Every year he takes out 2 days, turns every single aspect of the company inside out asking is it optimal, could we improve/change/re-new. To date he has beaten all odds and managed to survive in markets against all odds and in relation to his competitors. All in the mind-set, that is all it takes.
StephenTurnock
Kodak is an analogy I use a lot. The 130 year old company lost 90% of its value in 2011 alone.
Remarkably, Kodak invented the first digital camera in 1975 but put it on hold as the execs were AFRAID it would hinder their mainstream paper & film sales. That sounds familiar!
Recruiters as with any business, can find ways to build new innovative offerings alongside existing revenue streams.
As per @Jabob comment, Mindset is inhibitor or mobiliser!
Fear is a chocolate teapot!
Andy Headworth
That sounds like a good exercise to me - maybe we should all do that more often?
Andy Headworth
I reckon Chocolate teapots are all too common in recruitment!