In our 2017 Salary Survey, we discovered that astonishingly 67% of organisations surveyed admitted they had lost talent in the interview to hire process as it was taking too long. Furthermore, 51% of professionals surveyed stated they had lost interest in a role due to lengthy hiring processes. With candidates being more selective with the jobs they apply for, employers cannot afford inefficiency. As a result, connecting with a recruiter is paramount to improving a hiring process. Recruitment is more than CV management, recruiters are industry specialists and can supply companies with select top candidates and not a pool of applicants. Initially, business owners may perceive outsourcing as an extra cost but as statistics have shown, choosing not to work with a recruitment partner could cost a lot more.
Here are reasons why all organisations should strongly consider partnering with a recruitment firm:
Market Knowledge
Recruiters specialise in particular industries giving them the ability to create tailored solutions for an organisations’ requirements. Working with someone with insight to market trends, salary benefits and the latest skill set required can make sure the most suitable candidates are hired. At Lincoln recruitment, our consultants have extensive backgrounds and specific expertise in the following industries, sectors, and functional areas – Accounting & Finance, Banking & Financial Services, Legal & Compliance, IT & Technology, Insurance, Funds & Asset Management, Human Resources Construction & Engineering and Sales & Marketing. Having their own personal background working in these specialised areas, our consultants can thoroughly understand how your organisation works.
Extended Reach
When it comes to hiring, if a business owner is not used to the process, it can become difficult to find a high calibre of candidates with the relevant skills and experience required. The expected response rate to job advertisements may be poor or potential candidates may not see themselves as suitable for the role. A recruitment partner has a large network of contacts to help connect their client to people who are ready to make the next move in their career. By working with a recruiter, an employer can gain access to a wealth of candidates, who would be off the radar of an in-house talent team.
Time
Hiring can be a long, ongoing process especially for small organisations who may not have an in-house talent team. It most likely will lead to more work, be a burden to HR, and as statistics have shown a prolonged hiring process will hinder attracting the best talent. Connecting with a recruiter can increase the speed of hiring new staff, as they know how to find quality candidates in a timely manner, leaving their clients with only having to interview them. Recruiters take care of all administrative issues which can be time-consuming such as; reviewing applications, communications with applicants, including notifying unsuccessful candidates, providing feedback and verifying candidate information. An organisation can only be as good as its people and if an employer wants an organisation to perform at it’s best they cannot afford to waste time and lose out on hiring the best.
Cost
An employer can experience both short-term and long-term costs by not using a recruitment partner. One of the most important short-term costs, a recruitment partner can help minimise is the cost of a bad hire. Hiring a new employee who is not a perfect fit for the role can result in lost productivity, reduced sales and reduced employee morale. A consultant can put together the best hiring process for their client to obtain the best possible outcome. Another short-term cost recruiters can hep reduce is overtime costs. Employers may find they need employees to work overtime to cover annual leave or complete large projects, this will often cost more than hiring temporary workers. Consultants have access to a network of temporary employees they can recommend to employers so they do not have to incur overtime costs during busy periods. In the long-term, an employer can reduce hiring costs by working with the same recruitment partner. By using the same consultant, they will have gained great insight and understanding of their client’s needs and as result will be able to speed up the hiring process.
Employer Brand
In 2016, Linkedin Global Recruiting Tends statistics conveyed employer brand was a top priority for companies with a significant increase in spending to be seen as an employer of choice. A recruiting consultant can help build employer brand by meeting one on one with potential candidates and giving real insight into their clients’ business. Consultants can share about benefits, career progression and the culture so the best candidates are attracted to work there. It is essential that employers take the and work closely with their consultant so they can gain this understanding and be represented as the employer of choice.
While a recruitment firm’s main role is to source the best talent for your business, it is clear their service offers a lot more advantages to an organisation. Recruitment consultants can be an employers’ trusted advisors and will add value to their client’s business. Partnering with a recruiter is an excellent strategic move for a business to meet greater success.
At Lincoln, we understand need to hire the best talent to succeed and grow in an increasingly competitive world. If you would like to discuss your talent requirements you can learn more here or call +353 1 661 0444.
