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However, the available candidate pool for this role is in fact very small. Let's call it a.
To begin with, there will be a strictly finite number of firms of sufficient size, scope and client quality to produce the right quality of corporate partner. Let's call the number of corporate partners in these firms x.
x = all corporate partners in good quality firms possessing a UK qualification.
The firm then needs to subtract an indefinable percentage of those partners who are either perfectly happy doing what they are doing and don't want to move or simply don't want to, or can't, move for personal or other reasons. Let's call that y.
y = happy and/or immovable corporate partners
So, the available pool immediately becomes x-y, before we've even really started.
Naturally, the firm decides that it wants a client following to go with its partner. It is important to build a business that a candidate can bring either portable business or very strong contacts. It is rare that a firm will not need following Æ perhaps in a succession situation or where a specialist skillset is on offer Æ but even then, it stands to reason that if someone is that good, they're going to have something to bring to the party. Partners who don't have that aren't any good to us. Let's call that z.
Now, our available pool, a = x-y-z
When we actually get going in the recruitment process, that number will reduce again and again as other negative factors come into play. These might be poor practice fit, client conflicts, not being on the correct panels, not having sufficient credibility or conversely being too big and too expensive for a candidate's existing clients. That's even before the most vital fit question: chemistry. In fact there are any number of other reasons why a partner would not want to come to us. Let's call those reasons n.
The equation can end up looking more like this: a = x-y-z-n
If that seems too abstract, try this:
Available candidate pool = all corporate partners in good quality firms possessing a UK qualification who are not completely happy, immovable for personal reasons or who have no clients, oh, and don't forget (and you'll only find this out after interview) NOT including those whose practice doesn't fit, who have clients you can't service because you're not on the panel, who don't have sufficient credibility for your clients, who are too expensive, who have an appalling reputation for staff management and would cause all your assistants to leave, who your existing partners won't work with because they've worked with them before, who you have had a 'run-in' with when they were on the other side, who are 'damaged goods' because they've moved around so much...(the list goes on, and on, and on...)
Not exactly a very encouraging place to start. Which is why it is all the more important that firms have a speedy, effective and proactive recruitment process in order to ensure that they attract the best candidates.
See The Recruitment Process for tips on how to attract the candidate you need.
Attracting the best candidate
The candidate pool
It is vital that everyone involved in a recruitment project realises that the candidate pool for your requirement is NOT infinite. In fact, it is distressingly finite. Let's take the example of a medium-sized City firm looking to recruit a UK-qualified corporate partner. This is a common instruction and a large area of business.However, the available candidate pool for this role is in fact very small. Let's call it a.
To begin with, there will be a strictly finite number of firms of sufficient size, scope and client quality to produce the right quality of corporate partner. Let's call the number of corporate partners in these firms x.
x = all corporate partners in good quality firms possessing a UK qualification.
The firm then needs to subtract an indefinable percentage of those partners who are either perfectly happy doing what they are doing and don't want to move or simply don't want to, or can't, move for personal or other reasons. Let's call that y.
y = happy and/or immovable corporate partners
So, the available pool immediately becomes x-y, before we've even really started.
Naturally, the firm decides that it wants a client following to go with its partner. It is important to build a business that a candidate can bring either portable business or very strong contacts. It is rare that a firm will not need following Æ perhaps in a succession situation or where a specialist skillset is on offer Æ but even then, it stands to reason that if someone is that good, they're going to have something to bring to the party. Partners who don't have that aren't any good to us. Let's call that z.
Now, our available pool, a = x-y-z
When we actually get going in the recruitment process, that number will reduce again and again as other negative factors come into play. These might be poor practice fit, client conflicts, not being on the correct panels, not having sufficient credibility or conversely being too big and too expensive for a candidate's existing clients. That's even before the most vital fit question: chemistry. In fact there are any number of other reasons why a partner would not want to come to us. Let's call those reasons n.
The equation can end up looking more like this: a = x-y-z-n
If that seems too abstract, try this:
Available candidate pool = all corporate partners in good quality firms possessing a UK qualification who are not completely happy, immovable for personal reasons or who have no clients, oh, and don't forget (and you'll only find this out after interview) NOT including those whose practice doesn't fit, who have clients you can't service because you're not on the panel, who don't have sufficient credibility for your clients, who are too expensive, who have an appalling reputation for staff management and would cause all your assistants to leave, who your existing partners won't work with because they've worked with them before, who you have had a 'run-in' with when they were on the other side, who are 'damaged goods' because they've moved around so much...(the list goes on, and on, and on...)
Not exactly a very encouraging place to start. Which is why it is all the more important that firms have a speedy, effective and proactive recruitment process in order to ensure that they attract the best candidates.
See The Recruitment Process for tips on how to attract the candidate you need.