Author: Jerry Brennan
Market mapping allows you to identify potential pools of talent for your corporate security program. The process gives you an edge in finding and securing the best people for your team.
Gone are the days of advertising for a position and waiting for the perfect person to apply. Competition for top security talent can be fierce, especially at upper management levels.
Market mapping can help you to anticipate future requirements and allows you to preemptively identify candidates who are now – or could be in the future – the perfect hires for upcoming key positions. In addition to sourcing possible candidates, market mapping offers a window onto what competitors for similar talent are doing, allowing you to make informed decisions and be ahead of the game in your security recruitment goals.
What is Market Mapping?
Market mapping is a methodology used to identify a large pool of candidates for a specific security job. The exercise targets all possible hires who should have the skills required for the position within any given number of competitors, geographic regions, demographics and like departments. This proactive approach improves the speed with which you can identify the top security talent you need, the quality of the individual(s) you hire and the amount it costs per hire.
Passive candidates don’t necessarily apply in response to an advertisement or job listing, so in-house talent acquisition teams very often rely on social media to surf for possible candidates. While the evolution of social media has made information about some candidates more easily accessible, it is not without its flaws.
Generally, many security practitioners remain reluctant to share information in public forums, and SMR frequently sees significant discrepancies between the resumes candidates send us and their LinkedIn profiles. Relying solely on social media to develop a list of potential hires means you will miss some of your target demographic.
What Should You Consider?
When you start the mapping process, consider the roles you need to hire, what potential candidates for these positions look like and what competitors for the same talent are doing. This lets you identify the skills and competencies you most need so you can target them. Rather than a job description, you should be thinking about what the resume of your targeted candidate looks like.
The goal of market mapping is to have a clear idea of what security talent is available, where they can be found and what it will cost to acquire them. You should additionally seek to identify those people who will be ready for hire longer-term and add them to your network for future reference. This allows you to develop a connection with potential candidates, ensuring they have an accurate view of your company and your goals.
SMR has seen an increase in localization of roles, and market mapping is also extremely useful to staff in unfamiliar locations. Acquiring the right people for new or expanded operations can be challenging, and SMR regularly runs market mapping exercises for our clients in these circumstances based on our long-term involvement in security recruitment.
Once you have identified a pool of potential applicants using this process, you an edge in recruitment. You will have assessed prospective candidates without having the expense of conducting a full search. You’re able to quickly hire right-fit, diverse talent that may be hard to find otherwise and you will be able to approach passive candidates with the confidence you have a hiring package that interests them.
Done correctly, a market mapping exercise should yield you a long-term security talent pipeline.
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Questions? Contact us directly to learn more about identifying future security talent for your team to accelerate your hiring process.