Market Research plays a vital role in the success of many companies. These analysts provide insights on important data that tells an organization about its target audience and competitors. They can determine whether a product or service will be successful in the market by studying consumer behavior, business conditions, and other contributing factors.
Over our years of specializing in Market Research recruiting, we have noticed a consistent pattern in difficulty hiring for this role at the mid-to-senior level. Companies often struggle to find strong talent with more experience, and we wanted to know why this happens and how we can find solutions to this gap in the market.
We are eager to solve this problem for organizations hiring Market Research talent. Get ready to discover these solutions as we identify key problems that contribute to the hiring struggle, what talent is looking for, and how to simplify and strengthen your talent search process.
Why are companies struggling?
For those who have experienced unsuccessful talent searches when looking to fill mid to senior level Market Research positions, you aren’t alone! There are reasons why this talent pool isn’t as easy to find as others.
The pandemic was a major game changer in this industry. Information technology like SurveyMonkey was able to replace the roles of many junior-level market researchers, creating a lack of growth opportunities for entry-level talent. These past few years of collating and automating research on the market have nearly eliminated the need for the mid-level, and companies are now realizing that human touch in Market Research has major benefits.
In addition to the tech shift during the pandemic, Market Research has always had a reputation for little work/life balance. This also became a major priority for many of the best employees out there, so roles with this reputation are struggling to hire across several industries. This also leads to talent with mid and senior-level experience shifting to contract and freelance positions over full-time roles so that they can control their workload.
Many organizations that hire Market Research analysts also tend to hire entry-level talent and train them up, providing growth opportunities up to the senior level. This means fewer high-level talent are looking for work since companies maintain strong retention rates.
What is talent looking for?
Despite the struggle, there is a talent pool of mid to senior level Market Researchers for those who are determined to attract them.
One of the best things leaders can do is prioritize a culture of work/life balance. This is widely becoming the norm for many industries and is expected by the best talent. Take time to look at PTO, work-from-home flexibility, summer Fridays, and other opportunities that will let talent know that they are more than just an employee.
Second on your list should be salary research. It is important to understand expectations for this role, especially for those at the senior level. Offering a salary that is not up to par with the market standard will leave you with few options. Take time to understand what you should be offering and, if in the budget, go a little higher than the industry average and use this to your recruiting advantage. Check out our guide to see if you're in the right ballpark.
Many job hunters are looking for stability and growth opportunities as they search for their next role. Is your company ready to hire a mid to senior level Market Researcher with retention in mind?
Make sure you consider the trajectory for this position’s growth. Create opportunities for raises and promotions so that your next hire knows they have a strong career within your organization for years to come.
How to attract mid to senior-level talent
Now that you have considered what talent is looking for, you can focus on presenting your company as the best choice. We always emphasize taking time to detail why top talent should choose to work with you and what you have to offer that stands out among the crowd. See some tips and tricks to help you attract the mid to senior level Market Research talent you need.
Create the right recruiting assets
Most companies rely on just a job description and job ads to attract strong candidates. This simply isn’t enough to truly stand out. Companies that make the most noise in the job market take time to develop several assets that can be used as recruitment tools. Consider implementing strategies around:
- Video - interview leaders and your staff to share about the work you do and company culture
- Decks - tap your design team to create visual assets that tell your company story and share info about the role
- Blogs - provide insights into your perspectives on work, your company, and the market as a whole to position yourself as a thought leader and passionate contributor to your industry
Think about your marketing strategy
Companies that are attracting the best talent have a digital presence that goes beyond just selling their product or service. Leaders are interviewing on podcasts, sharing their opinions and articles on LinkedIn, and appearing at networking events. Employ an "Always Be Hiring" approach and you'll soon find yourself speaking to fantastic candidates.
Build out a Talent Pool
Mid to senior-level talent typically transitions to new roles every two years, so it’s crucial to catch the right candidates at the right moment. Consider investing in tools that allow you to manage relationships and engagement with talent that can lead to them entering your pipeline when they’re ready. When someone is thinking about a new opportunity, something as simple as a well-timed email can place you at the front of the line.
Other Things to consider:
On average, companies spend 120-150 hours trying to fill a mid to senior role in their company. This includes investing time in recruiting, sourcing, managing job responses, interviewing, and vetting qualifying candidates. We are here as your partner to help you save time with customized recruiting processes, field knowledge, and talent pool connections. If you’re ready to talk about your hiring needs, be sure to reach out!