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Why partnerships are vital?

about 2 years ago by Neil Pickstone

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We here at Volcanic have learnt that having partnerships are vitally important for the business. Having an alliance that helps you share experiences, broaden your expertise and offer a wider range of understanding is to the benefit of every business but when operating in a specialist sector such as recruitment it's vitally important.

Successful partnerships and alliances are built on trust, and can demonstrate that the benefits from the alliance are equally spread, rather than one partner carrying the load whilst the other reaps the benefits. For example Volcanic partners with a number of different types of businesses, as we specialise in the employment sector and offer our services to both recruiment agencies and job boards we have a range of different partners that can help improve our understanding of our own offering and our technology but also we can provide our customers with insight and knowledge that would help improve their own service offering too.

We have three types of partners: -

  • Technical Partnerships - Where we integrate our platform with other platforms to make it easier for our customers to exchange data between their own systems
  • Service Provider Partnerships - Partners who can provide their services to our customers, that we ourselves do not provide. 
  • Trade Associations - Partners who see the value of providing our service to their own members and to whom we can provide specialist insight to share with their members.

When entering into a strategic partnership or alliance, there is a lot we need to consider before rushing into a relationship: -

  • Communication - How are we going to explain the partnership, what are we allowed to say and do we understand what the benefits and what are the costs of our partnership?
  • Commitments - Are we aware of our mutual commitments, can we make sure we manage these and deliver on these expectations. Do we know what success and failure looks like.
  • Collaboration - Do we know to what extent we are share resources with our partners but remember we are not merging but merely sharing the benefits of this alliance and so total sharing of resources is unnecessary.

Finally to make any partnership work we have to focuss on success and the results we achieve as a group, without successful results then a partnership is doomed.

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