There are many different challenges that investment management firms encounter when trying to recruit talent for their team. GoBuySide states that many chief executive officers believe that they don’t have access to the type of talent that they want their company to have. In fact, only about 1/3 are confident with their current team and their talent for investment management. According to GoBuySide, one of the main problems that exist in investment management recruiting comes down to issues with networking. While social media and the rest if the digital world is supposed to make the process easier, that’s not always the case. Just being connected to someone online doesn’t mean that there is much of an increase in the chance of adding their talent to the team.
GoBuySide thinks a lot of the problem is because entrepreneurs just don’t spend enough time on social media. They don’t quite accept just how important the platforms are when it comes to business and networking. Another problem that is occurring is that while these recruiters may spend a good amount of time on social media, they are not utilizing the platforms properly. Many of the recruiting firms that GoBuySide has found to be successful take an approach that focuses on the customers. Instead of doing most of the work through networking, they focus on communicating with the customer and gathering leads that way.
Times are changing and that includes the way that businesses communicate. Privacy is another problem that GoBuySide understands need to be addressed. Potential talent is hesitant to put too much information out there after experiencing problems on platforms such as Facebook and others. Many leaders in different industries are turning away from social media networking and recruiting due to these problems. There has been a considerable amount of backlash concerning companies accessing the social media of employees and potential talent that many recruiters would choose to just avoid entirely.