CORE-Asset Consulting, a financial recruitment specialist, has been appointed by Kiltearn Partners, a leading global equity asset manager, as its sole recruitment partner.
Kiltearn Partners becomes the second of Core-Asset’s clients to adopt its Principal Recruitment Partner (PRP) model(1).
In 2014, the recruiter signed a similar agreement with Alliance Trust.
Begins a spokesperson: “Unique within the Scottish financial sector, the PRP model allows Kiltearn to dispense with the need for a multiple agency, preferred supplier list(2) (PSL) arrangement.
“It also provides the asset manager with the best aspects of contingency sourcing(3), executive search techniques(4) and temporary recruitment services.
“In addition, this partnership model gives Kiltearn Partners access to Core-Asset’s existing recruitment infrastructure, as well as additional specialist support including HR advisory services, candidate testing, employee training and salary benchmarking.”
Betsy Williamson, managing director of Core-Asset Consulting, said: “Kiltearn Partners have recognised that dealing with a raft of different recruitment agencies isn’t always the most effective, efficient and cost-effective approach.
“Traditional multi-agency structures are often characterised by low engagement between client and agency, can be difficult to manage and suffer from high candidate attrition rates.
“Our PRP model creates a much closer relationship with Kiltearn, allowing us to develop a more detailed understanding of their business objectives and better anticipate their future resourcing requirements. By supporting Kiltearn on an exclusive basis, we are able to better match candidates to the roles.
”It’s a win-win-win situation for the client: high expertise, high engagement and an annual management fee structure. This is much more in line with how other professional services firms support their clients.”
Stuart Gunderson, chief operating officer, Kiltearn Partners, said: “Kiltearn Partners is a boutique equity investor focused solely on global value. Our size makes the attraction, retention and development of talent more critical to us than larger, more established players.
“We were greatly impressed by the level of knowledge that Core-Asset Consulting has about the asset management industry and by its enlightened approach to recruitment.
“This partnership should ensure that we not only hire the best people in the market but also – through Core-Asset’s HR and training support – retain and develop them as well.”
1. Principal Recruitment Partner model
RECRUITMENT APPROACH (combined benefits)
• Lead and second consultant model
• Project management philosophy
• Access to both active and passive candidate pools
• Experts in working in restricted markets
• Leaders in innovative candidate attraction strategies
• Invoiced on completion of assignment
• Access to local and global market trends
• Experience in servicing extensive client list
• Supports in-house HR function
• Efficient recruitment
Temporary and Contract
• Access to immediate temporary, interim and contract resources
• Management of workload spikes, e.g. maternity, paternity and long-term leave
• Responsive to changes in headcount, technology and regulations
Preferred Supplier List
• No sales calls or unsolicited CVs
• No unsolicited approaches to client company employees
• Long-term relationships
• Employer brand advocacy
• Well-structured and monitored service-level agreements
• Integrated vetting and onboarding
• One dedicated point of contact
• Direct relationship with hiring managers
• Client retains control of recruitment process
• Outsourced administration, management information and reporting
HR Advisory Services
• Workforce and succession planning support
• Restructuring and reorganisation
• Interview training
• Talent management
• Reward and recognition management
2. Preferred supplier list – where a client is served by multiple recruitment agencies across designated disciplines of the client’s business, e.g. IT, legal, sales, marketing, etc. Although a recruiter may service more than one discipline, it is rare that an agency will recruit across all disciplines.
3. Contingency search – sometimes described as ‘no win, no fee’, the recruiter earns a fee only if the represented candidate takes a position with the client. Commonly, recruiters compete with other agencies as part of a preferred supplier list (PSL) arrangement.
4. Executive search – often working on a retained basis, the recruiter charges an upfront fee to the client. The search is conducted on an exclusive basis and the job is only filled by this recruiter.
About Kiltearn Partners
Kiltearn Partners LLP was incorporated in 2011 by Murdo Murchison and his founding partners and offers a single global equity program, managed with a disciplined value investment philosophy. Kiltearn Partners LLP is based in Edinburgh, Scotland, with a client service/marketing office in Pittsburgh, U.S.A. www.kiltearnpartners.com
About Core-Asset Consulting
Core-Asset Consulting is a leading independent recruitment company dedicated to the asset management, accounting and finance, investment operations and wider financial services sectors in Scotland. A specialist recruiter based in Edinburgh, it offers its clients tailored solutions for both permanent and interim positions. Core-Asset Consulting is an accredited member of the Recruitment & Employment Confederation. www.core-asset.co.uk
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