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Vertical Markets

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by

Sandra Escobar

on 21 April 2014

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Transcript of Vertical Markets

TRENDS
TARGET INDUSTRIES
FINAL RECOMMENDATION
WORK PROCESS
MARKETING PLAN
Tasks
Define an attractive industry ~ Identify interested industries ~ Offer strategic marketing ideas
Marketing Strategy
Develop a step by step marketing plan that:

1. Easy to implement
2. Use available resources
3. Offer specific contacts to build network
4. Offer competitive intelligence

Nicole Chatigny, Sandra Escobar, Ryan Kellogg, Aaron Lau, Matthew McCarthy
Work Process
Attractive Qualities
Efficiency
Superior talent & ideal candidates
Innovative prevention of turnover costs

Recruiting budget
Boston - D.C
Room for growth
High turnover

VERTICAL INDUSTRIES
Comprehensive list
Attractive
10
Interested
3
Banking
Hospitality
Retail
Untapped Industries
High Turnover
High Under-employment
Low Retention
Over Qualified
Thank you!
Require 2 years of experience
Small, regional, local
Experienced work force retiring
Rely on larger banks
Expensive recruiting


Turnover is 67%
Other retailers are turning to: Spark Hire
" There's not much hotels can do about taxes, utilities, and other fixed costs, but labor costs are potentially one of the most significant controllable costs of a hotel."
- Jim Butler, Chairman, Global Hospitality Group
Job growth 1.6 million since 2010
Added 406,000 jobs in past year
Turnover is 31%
Final Recommendation
Advertising
Health Care: Managed Care 
Movies and Home Entertainment
Restaurants
Insurance : Life and Health
Retail General
Retail Specialty
Apparel and Footwear: Retailers and Brands
Health Care Pharmaceuticals
Office administrative services
Construction
Agriculture
Chemicals
Banking
Airlines
Hospitality - Hotels
Information Technology
Education
Supermarkets & Drug Stores
Computer systems design and related services
Children's Services
Hospitality
Finance
Mining
Defense
Pangea Connect isn't just in the job recruitment business...it's a career advancement tool for all levels
Cost Per Hire
Taxes
Social security tax
Unemployment insurance
Medicare tax
Worker Compensation insurance
Certain state and local income taxes
Training & Other Costs
One job posting = $37.50 - $456.50
Reviewing applications = $587.50
Pre-Screening candidates = $100
Interview methods & prep = $75
Wrapping up = $187.50
Costs-External Hiring
Cost of recruiting is $240,000 per employee

Cost of recruiting the wrong employee (mid-level mgt) is $840,000
Costs- Internal Hiring
Paid 20% less than external hires
15% - 35% more successful than external hires
Lower exit rates
Over $100,000 saved per employee

Innovative
Early adopters
Willingness to invest
Values human capital
Interesting Factors
Wages & Benefits
"Always promote internally. You want to keep people who already know how the company works. It improves morale and you get someone who knows how to do at least two jobs at the company. It creates an internal career ladder and helps retain trained staff. "
Trends
- Irene Carpenter
CEO; 35 years hiring experience
Less resources allocated for entry level
College students are easier to hire
Feedback is not provided at this level
Build talent
Retain Staff
Avoid high turnover
Save time
Save money
High underemployment
Low retention
High turnover
Overqualified
Time Magazine
Intuit.com

Huffington Post
Inc.com
Attractive meets Interesting
Fill the gap
Differentiators
"I know there are banks that feel there's a world of opportunity, but they don't have the people to get the job done."
- Dennis Burnett, Executive Recruiter, Sanford Rose Associates
American Banker Magazine
U.S Department of Labor
Haygroup.com
Gross cost per hour $30.80
Wages & benefits @ 70/30
Benefits: health, retirement, pay leave
The external recruitment market is saturated with competition
Companies are struggling to find the right talent
Currently, 40% of the workforce is underemployed
Every five minutes someone accepts a job they are overqualified for
Huffington Post
“The typical recruiting process is outdated and insufficient”
Key Ideas
Full transcript