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The difference between Product & Service companies

There’s a fundamental difference in how a service-based company and a product-based company work. And when two companies work differently, their hiring approach should be unique too, right?

In this article, we will discuss the differences between service-led and product-led companies in terms of their work culture, scope of work, client deadlines, skill and talent requirements, and income. We will also explore why different working styles require different recruitment approaches.

Service-led companies are more flexible in their working style and often change their scope of work according to client demands. They have tighter deadlines and may charge projectwise, leading to less stable income. As a result, service led companies should adapt their recruitment approach to fit the specific needs and working patterns of their organization.

Why Should Service-led Companies Rethink Their Hiring Approach?

The points above clearly show how service-led companies operate dissimilarly to product-based companies. 

Now, since service-led companies work with more flexibility and uncertainty, their hiring approach should also be in sync with their working scenario. They can consider hiring more contractual employees than permanent ones. 

Hiring on a case-to-case basis can help a service-led company get more work done in less time and stay ahead of deadlines. Hiring the experts for specific skills will also save you the time and money you would spend on training your full-time employees. 

But case-to-case hiring also means you have to look for new candidates constantly throughout the year. With small hiring teams, that becomes a huge challenge for companies. Let’s find out how you can set up effective recruitment planning to get the maximum results.

How to Ensure Effective Hiring in Your Service-Led Firm

Hiring gets tricky when you have to deal with a large pool of candidates too frequently. Pace up your hiring and meet hiring targets with more ease & certainty. Save time & costs spent on random decision-making and realizing it in the hindsight. 

  1. Breakdown your hiring plan into small tasks

Avoid getting overwhelmed by the mountain of tasks in your hand. Break down your tasks into small parts and create a well-sequenced To-Do list. Tick off the tasks right when you complete them and revisit the ones that slipped off your mind.

  1. Carefully observe Actions Vs Outcomes

Track down each step of your hiring process. Define your tasks beforehand and stay posted about the progress. Know which action led to what outcome & which outcome worked for you the best. Hold on to those positive-resulting actions and use them to make your hiring more yielding.

  1. Continuously optimize your hiring process

Don’t just track the applicants but track the entire recruitment cycle too. Visualize, optimize, and analyze your hiring process by tracking it thoroughly. Tick off the tasks you’ve completed, know which activities are still pending, which candidates are late in the process, and so on. Also, just like discussed in the last pointer, observe your actions and results to make well-informed decisions the next time. 

  1. Avoid any repetitive and double work

Try to avoid repetitive and time-stealing tasks like going through the stack of emails to find out a candidate’s progress in the process. Make the list of tasks and candidates on spreadsheets and ensure that everyone is on the same page. Also, reduce the chances of you and your recruiter colleagues approaching the same candidate in the same hiring spree. 

  1. Make use of past recruitment data & metrics 

Save your hiring experiences securely and note down the data and metrics you acknowledged in the process. Such as which hiring platform gave you the best talent pool for a particular skill set or what was the success rate of your last hiring process, etc. 

What Hiringmaster do?

HiringMaster is a hiring management tool that helps you operate your hiring as project management by simplifying the process into actionable tasks. You can track, collaborate, and visualise your hiring in real time, keeping away from messy spreadsheets.

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Changing your hiring strategy can prove to be a game-changer for your service-led company. Hiring contractual expert employees and organising your recruitment process can save your company costs and time, improve your recruiter image, better competitive edge, and win clients’ trust for life.

Tracking your recruitment process on spreadsheets can get overwhelming with time. Make your hiring fun, simpler, and high-yielding with HiringMaster. HiringMaster is a Hiring Management System that helps you projectify your hiring process and track each moving part carefully without fail.

Projectify your hiring in minutes!

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