In a tight talent market, recruiting is tougher than it ever has been before. On a day-to-day basis, companies and HR are rethinking their strategies when it comes to acquiring top talent in the market. There are more unfilled positions than there are high-quality individuals to occupy them due to a low unemployment rate of 3.5% as reported by the U.S. Bureau of Labor Statistics in December 2019.
In an effort to increase the probability of filling these roles, more and more companies are turning to recruiting services for their talent needs.
What Are Recruiting Services?
Recruiting services are services that are administered by recruitment specialists which involves the overall process of attracting, shortlisting, and selecting high-quality candidates for specific roles within an organization. Both small and large businesses seek recruiting services to quickly land top candidates to remain competitive in today’s job market.
Recruiting practices may involve internal and/or external recruitment advertising, utilizing effective methods of recruitment such as social media, business media, window advertisements, job centers, and many other ways via the internet.
Partnering with a recruiting firm can be highly beneficial for organizations in a number of ways. By partnering with a top-rated professional recruiting firm, you can expect to do the following.
By doing the hard work yourself and not consulting with a recruiting agency, you increase your chances of potentially getting a bad hire. A bad hire not only has a negative effect on your organization’s team, morale, and overall work culture, a bad hire also affects your organization financially, and the cost can be significant.
A survey from CareerBuilder showed that 41% of companies that made a single bad hire suffered the price of $25,000 or higher, and 25% of those companies at a cost of $50,000 or higher. The costs of a bad hire average between $7,000 and $10,000 for entry and mid-level roles, rising up to as high as $40,000 when you move into management-level roles.
In hiring a low-cost recruiting firm, you have a great chance of saving a ton of money by avoiding the costs of a bad hire for your firm. Recruiting services at a low cost diminish the chances of obtaining a hefty cost at the hands of a wrongfully hired individual, and focus on selecting the best of the best in the industry with reasonable fees and high levels of service.
Save Time with Rapid Recruiting Solutions
The average time to fill a position in the job market today, as reported by the Society of Human Resource Management, is 36 days. According to LinkedIn, only 30% of companies are able to fill a vacant role within a month, and the other 70% typically take anywhere between 1 to 4 months. This is critical to note, as approximately 57% of job seekers actually lose their interest in a role going through a lengthy hiring process.
Recruiting firms provide an immediate return on investment for organizations as they strategize to shorten the length of the recruitment process by quickly and efficiently identifying top-quality candidates in the market through different recruiting software programs.
Work With A Workforce Recruiter With An Established Network
Recruiting agencies know the job market inside and out. With talent and acquisition being at the core of their business models, recruiting firms are hiring experts and have an established network and talent pool of candidates for your specific role. Recruiting firms can guarantee you a high-quality candidate with their services as they rarely miss. They work to understand your company culture, identify candidate matches, assess their strengths and weaknesses through prescreening processes, and properly vet.
Recruit Passive Candidates Into Your Organization
73% of candidates in the job market are passive job seekers, meaning they are already in a position where they are comfortable and are not actively looking for a role. Also, nearly 10% of the top candidates in each respective industry are all passive candidates, making it tougher for companies to hire them. These top candidates can be tough to recruit, as their resumes don’t exist on job boards as they are not actively applying to roles.
Recruiting firms help solve this issue, as they aggressively seek to find and contact these candidates in a persistent manner in an effort to fill vacant roles for organizations. Recruiters work to open these candidates’ minds up to the possibility of landing a role that will better serve what they are looking for in their careers.
Have Access To Low-Risk Recruiting Solutions
When you choose to work with a low cost, professional recruiting firm, you get the benefit of a decreased amount of risk associated with hiring new talent, such as hiring a bad hire or losing a good hire. Recruiters eat, drink, and sleep recruiting and fully engage themselves in ensuring they find the right fir for the role.
Partner With A Firm With Recruitment Technology, Tools and Management Information
Recruiting firms have the right technology for the job. Utilizing the right recruitment technologies as well as effectively marketing your organization is key in terms of finding the best talent in the market. As technology continues to have breakthroughs, and the talent gap becomes even greater, the art of recruiting is constantly changing, you need the tools and expertise to take your organization to the next level.
Partner with a low-cost recruiter with intrinsic value to your organization and land your next top candidate.
INTRINSIC WORKFORCE RECRUITERS
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