Why Hiring a Professional Recruiting Firm Should be Your Top Priority
As a business owner, you often consider hiring a professional recruiting agency to land good candidates quickly when trying to fill vacancies at your company.
Rightly so, without a great recruiting process, you will miss out on the potential talent in your industry to your counterparts. This is true because today, as many as 49% of applicants on an average decline a job opportunity because of a poor recruitment experience.
Many companies don’t realize that job applicants interview their brand as much as they interview them. So, not asking them the right questions or following vague procedures throughout screenings is detrimental to business success.
Seeking help from a professional recruiting firm is the way to successfully get through the hiring process! There is a wide variety of services in the job market. How can you use them to propel business growth at your end? Keep reading to find out.
Why You Need Effective and Professional Recruitment
Companies need to invest significant capital in the entire recruitment process. This is when hiring a professional recruiting firm makes sense. It is especially true if you’re a startup and your employees are stretched thin. In-house recruiting is not a wise investment in these cases.
Also, potential candidates expect good employee experience that can provide them a sense of workplace culture when they apply for a job. According to CareerArc, 89% of candidates assess the brand and workplace culture before applying.
In its latest survey, PWC found that 72% of job applicants prefer understanding the work culture before they accept a job offer.
Culture is a meaningful aspect for many employees. And according to that same PWC survey, 37 percent of C-suite-level applicants admit that they would work for lower pay in a mission-driven company that aligns with their perspectives.
These are a few reasons leading brands and companies employ a recruitment strategy to attract the best talent.
The cost of hiring is another inevitable aspect that leads to hiring professional recruiting agencies. Typically, the hiring cost is $4,425 per employee, according to Zippia.
Some of this expense is incurred in lost productivity and training, but a good amount of money is spent on the recruitment process. It includes everything from hiring HR teams, posting adverts, time spent in screening to interviewing and background checking.
Here is a breakdown of other reasons you need to hire a professional recruitment firm.
It Is Key to Business Growth
A business is as strong as its workers. The success depends on their industry knowledge, skills, professionalism, ability to meet customers’ demands, and resourcefulness. There are plenty of desirable qualities in marketing professionals that are hard to determine by glancing at a CV.
A professional recruiting firm uses data-driven processes. It includes actual stats and facts to help you make hiring decisions. Companies that use data-driven recruiting are likely to be more efficient in making successful hiring decisions.
As recruiting agencies use proven strategies, companies can hire the right talent to take the business to new heights.
The Ability to Attract, Motivate and Recruit Top Talent Leads to Continued Business Growth
Did you know around 40 to 60% of new hires by in-house recruiters fail within the first two years? As a business owner or hiring manager, you might know the qualities you need in an ideal candidate. However, you may not know where to find or how to communicate your preferences and requirements.
Even if you’re skilled in demonstrating your company’s opportunities and strengths to motivated candidates, hiring the best fit is difficult. Not recruiting the right talent or choosing unsuitable candidates leads to poor fit and high turnover. It wastes the valuable time of the hiring manager and reduces your company’s overall efficiency.
An Efficient and Thorough Recruiting Process Leads to Improved Results
The key to efficient hiring is to ensure that you have a pool of qualified candidates to choose from.
Recruiting the right talent is a time-consuming process. That is why efficiency throughout the process is crucial.
Current Job Market Condition Demands Agility in the Recruiting Process
Due to COVID-19, the number of businesses plunged from 15 million to 11.7 million because of drastic demand shifts. It has lowered the unemployment rate significantly while increasing the competition for top talent.
Your company needs a dedicated and streamlined process to ensure you put the best foot forward to present your business or brand to candidates. It is essential to articulate the desired skills and requirements of your hiring position. And a skilled and professional recruiting firm aims to get you the best talent that can add to your business success.
How Hiring a Professional Recruiting Firm Helps You Expand Business
Extended Reach
A professional recruitment firm has access to the talent pool. It also has access to job seekers that seek work actively and those elusive passive candidates. Using a recruiting firm means your company is more likely to approach the best job applicants.
Many candidates actively look for better job positions and are likely to contact recruitment agencies. Most professional recruiting firms post vacancies on various job boards and online portals. They have an in-depth understanding of how marketing jobs work on these boards.
By approaching different mediums and platforms for job postings, recruiting agencies can help companies find the right talent. Not all candidates position themselves as an “active job seeker.” They have a reliable recruiter who looks for job applications relevant to their knowledge and skills. This represents a “huge talent pool” that is unreachable for companies otherwise.
A professional recruiting agency has multiple employment networks and consultants to help businesses connect with the right people and grow business.
Saves Business Time
According to one report, the average recruiting time across various domains is 49 days. Though it is a good average, in-house recruiting or positions with unique skill or experience requirements take more time.
Time is precious, and that is not something new to successful businesses. While each company uses different ways to measure profit and has varied initial costs, the standard time to become profitable is two to three years.
Hiring a professional recruiting firm is one way to save a significant amount of time. It is because a professional recruiter takes care of the primary and initial steps involved in the hiring process. A company doesn’t need to sift through resumes and applications. The agency ensures that the time your managers spend finding the applicants is spent choosing the ones worth hiring.
It doesn’t end here; a professional recruiting firm schedules interviews and prepares the applicants with the information they require. The firm also deals with administration issues, including communication with selected candidates. It verifies the applicant’s information, such as references and qualifications.
Companies that choose to work with a professional recruiting firm can minimize in-house resources and time spent on the hiring process. It not only fills vacant positions faster but also increases the company’s efficiency.
Additional Recruiting Services
Professional recruiting agencies perform essential functions, such as thorough background checks of candidates when considering them. Running in-depth background research is a time-consuming process that involves:
- Following up references
- Conducting first-round of interviews
- Ensuring candidates match what they state on their resumes
Many businesses use recruitment agencies to hire candidates. Hiring via a recruitment agency ensures businesses that the candidates they are interviewing have already cleared the preliminary tests.
However, it is essential to consider the additional services of a recruiting firm when choosing. Find out if it offers executive search, provides contract and permanent recruitments, runs psychometric tests, and offers support and managed service.
If the recruiting agency offers additional services, you can have an ideal talent pool using local market data and knowledge. Most reliable recruiting firms use forums like Indeed and Glassdoor to benchmark expected job applicant rates.
Expertise and Market Knowledge
Often, companies have specific and complex candidate requirements that are challenging to match. This is when a professional recruiting agency’s market knowledge and expertise come into play.
For instance, if you need to hire a manager, you should know recruitment legislation. A credible recruiting agency understands the relevant requirements and applicable legalities and rules.
When a business establishes a relationship with a professional recruitment agency, future hiring processes become more accessible. The agency is aware of the type of talent a business values. It looks for the qualities needed to make a perfect fit within the business.
The best recruitment agency acts as a collaborator and partner. Keep in mind that recruiters are hiring specialists in the industry. They work with competent and experienced hiring teams that have insight into what is in demand in the job markets.
The recruiters know the best ways to reach out to available candidates, career expectations, and skill-sets. They have proven methods to overcome hiring complexities and shortages.
Long-term and Short-term Cost Savings
A professional recruiting firm is present on a variety of popular job boards. That means businesses can rest assured that their job adverts are in the right place. However, according to Glassdoor, posting a job vacancy with an ad agency is a costly affair.
Plus, the cost of checking resumes and conducting preliminary interviews adds up.
However, using a professional recruiting firm can help your company reduce this cost. The firm is responsible for posting positions on your behalf and includes the price in its fees. The recruiter’s ability allows for better salary negotiation (considering fair pay). It may result in improved chances of hiring the top talent.
Short-term costs saved:
- Posting job ads – cost removed
- In-house employees can do their duties
- Reduces overtime cost (temporary overtime/hire period)
- Reduces the cost of recruiting
Long-term costs saved:
- Minimizes training cost (some recruiting agencies offer the chance to improve skills in field-specific regulation when searching for the perfect job)
- Reduces future hiring cost due to credible relationship with the recruiting agent
Portrays Professional Image
If you’re a startup, you may not have experienced in-house recruiters. Hiring a professional recruiting firm can ensure that your organization appears professional throughout the recruiting process.
Takes Advantage of Credible Third-Party Endorsement
A professional recruiting firm also offers third-party guidance and advice to job applicants. Further screening and evaluation are easier when candidates know about the prospective company.
Professional recruiters answer queries from hiring managers and candidates. It allows each party to know what it should expect and what’s expected from them.
What Does a Professional Recruiting Agency Do?
As an employer, you can hire a recruiting agency to find candidates who are the best fit for your positions. A professional recruiting agency has a pool of qualified talent. It works differently from an employment agency that caters to job seekers. A recruitment firm serves the employers by:
- Identifying specific backgrounds ideal for the job requirements
- Targeting candidates/job applicants that are passive and not actively looking for jobs
- Motivating passive candidates to appear for an interview process
- Screening and vetting candidates to allow employers to focus on other business aspects. It saves the hiring managers a lot of time
- Providing the best options for candidates to help businesses improve their growth rate
A professional recruiting firm should be your priority if you’re looking for the best talent to improve your business growth with their skills and competence. To know more about how you can leverage professional recruiting services, contact us at Recruiter.com.
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