January 2, 2018
The 5 Reasons You Should be Using a Recruiting Firm
No matter your business, niche or needs, the biggest challenge to hiring the right candidates is still the same: before you can hire them, you have to find them. But that’s harder than it sounds. Ninety-six percent of hiring pros say identifying quality candidates is the toughest part of the process, attributing lack of top talent access to everything from smaller candidate pools to unique skill sets needed.
The solution? Increasingly, companies are turning to recruiting firms to help connect the dots and find qualified, quality candidates. But that’s just the tip of the iceberg. From saving time and talent to broadening your candidate pool to driving increased ROI and dodging some common hiring missteps, there are countless reasons to enlist a recruiting firm for your next hire—and one reason to maybe not…
#1. Your HR department/hiring managers are stretched thin
Whether you have a dedicated HR team or rely on individual hiring managers to recruit, vet and hire candidates, there’s likely one universal truth uniting them all: they’re stretched thin. Now more than ever, HR leaders and hiring managers are being asked to do a lot beyond just manage the recruitment process—think handling employee disputes, managing benefits and payroll, training, marketing and interviews, for starters.
Countless studies have shown that productivity and efficiency declines as workloads increase—and hiring teams are no exception. Because they’re busier and being pulled in more directions than ever, it’s harder to drill down on specific hiring needs, then pound the pavement to find those just-right candidates. By outsourcing recruiting, HR departments can focus on other essential tasks, while ensuring access to the best candidates on—and even off—the market.
#2. Because an ACTIVE approach to hiring is always best…
Think about the traditional recruiting process. Company A posts a job on their website and other external job boards and hopes for the best. It’s passive, at best, and ineffective at worst. Job boards have a 2% to 4% effectiveness rate—not only can posts be missed by the right candidates, but if a company receives a glut of applications, it’s hard to weed through all of them to get to the right people. The end result? A handful of resumes are screened, and the rest go untouched—or, worse, the resumes just don’t come.
Recruiting firms have access to extensive, proprietary databases of top-tier candidates from a variety of industries. And, with high-level contacts and connections across various industries, our team can easily go into the field and find the right candidates for any open headcount. Together, this cuts down on lead time, unnecessary vetting and interviewing and, ultimately, enables companies to focus on the right candidates for the right position at the right time.
#3. Ensure a better ROI for every open position
In that vein, recruiting firms know your field and the players, and this ensures you’re getting more of the right candidates more often—even for highly specialized positions. And, at the end of the day, would you rather have a hand-selected pool of vetted professionals or a pool of whoever stumbled on and applied for the position?
Going further, though, recruiting firms have access to passive jobseekers and, even, sought-after professionals who aren’t actively looking—that’s about 70% of the global workforce. This instantly increases the pool while raising the bar on every candidate search. In other words, you see the best possible pros, including people you wouldn’t find through a traditional search.
What’s more, because these candidates are satisfied in their current roles, there’s a good chance they’re loyal, highly valued and well-regarded at work—exactly who you want in your company. And, because they aren’t actively looking, they’re less likely to be interviewing elsewhere—translation: less competition to convert them to your organization.
Overall, this recruiter-led process ensures greater ROI from day one. New hires are the best possible picks, and can hit the ground running—and can get slotted into roles in less time. This decrease in lag is, alone, enough to boost your ROI—layer in the due diligence that comes from working with a recruiter, and your return skyrockets.
#4. Save money by NOT hiring the wrong person…
You’ve likely heard the facts and figures surrounding turnover—specifically, that the cost of losing one highly-trained employee can be upwards of 213% of that person’s annual salary. For a $100,000 worker, that’s a jaw-dropping $213,000 lost.
While turnover is a corporate inevitability, think about what happens when a new hire leaves. Not only is your company left to deal with the productivity lag, but there’s the morale issues and the high cost tied to this now-repeat turnover. By enlisting a recruiting expert, you can dodge many mis-hires, while safeguarding your business from unexpected turnover thanks to extended guarantee periods—if a new hire leaves, many reputable recruiting firms will replace them for three to 12 months at no cost to you. Between ensuring solid hires every time and standing behind those hires, your business can save tens or even hundreds of thousands of dollars per year.
#5. Gain access to key strategic and niche skills
Nearly nine in ten hiring professionals say finding candidates with the right skill sets is the biggest hurdle to filling open spots. In fields like healthcare and technology, these numbers can be even higher.
Not surprisingly, then, the number one reason companies tap a recruiting firm is to gain direct access to niche skill sets, often with short notice. This ensures consistent productivity and curbs time spent weeding through job boards, resume piles and referrals—recruiters can cut through the clutter and deliver exactly who you’re looking for, in a fraction of the time. Given the increasing talent shortage, that’s more valuable than ever.
The reality? Recruiting firms cut down on hiring time, deliver increased candidate ROI and, as a result, boost a company’s bottom line well beyond the fees associated. The longer positions are open, the greater the loss in productivity and revenue, with more and more resources being shifted to accommodate the hole. Recruiters can curb that loss, while delivering better, more qualified candidates right out of the gate—candidates who can move the needle for your business in a big way. And, again, the value derived often far outweighs the recruitment fees.
SRM Staffing Group is a boutique staffing firm specialized in providing Direct Hire and RPO staffing solutions.
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