Recruitment agencies provide a service to employers, a service that comes at a financial cost.
Because of this, some employers might see partnering with a recruitment agency as an unnecessary expense: Why pay for something that you could handle in-house?
However, the fees paid to a recruitment agency can actually be seen as an investment that provides a return. When the return is greater than the investment, partnering with a recruitment agency actually offers a financial benefit. Below are just three examples of how partnering with the recruitment agency can financially benefit an employer.
1) Lower Internal Recruitment Costs
The best recruitment firms have large networks and hundreds of resumes on file. Upon receiving your specifications for an open position, a recruitment agency can quickly source best-fit candidates. This saves a significant amount of labor costs for staff who would otherwise be posting job ads and sorting through application materials.
These companies are also built to handle the most time-intensive facets of the candidate selection process, including phone screening and skills assessments. Also, recruitment firm personnel specialize in their field; they have a broader knowledge base and are more efficient.
Bottom line: Your HR staff and department managers have more time to focus on other essential job duties.
2) Less Overpaying for Talent
One of the biggest pain points of the typical hiring process occurs at the end when a top candidate and the employer are far apart on compensation expectations. This situation can lead to a company paying more than expected for a candidate, or having an offer rejected and scrambling to find another good candidate.
Personnel at a recruitment company spend all day and all week conducting hiring processes across a range of industries. Because of this, they have substantial expertise when it comes to salary expectations, as well as the existing state of supply and demand within the labor market. This makes agency personnel ideally positioned to help employers have informed compensation expectations to make perfectly tuned job offers to top candidates.
3) Greater Advertising Reach
Sometimes, employers don’t receive many high-quality responses to a job posting. They might be looking for a particular set of skills or levels of experience but resumes that don’t fit the bill. This is often a result of inadequate marketing of open positions. Good-fit potential applicants need to be aware of the open position to be able to apply for it.
Recruitment agencies aren’t just better at marketing and advertising open positions. Recruitment personnel also actively connect to professionals who may fit their clients’ labor needs. When a need arises, recruiters can then contact individuals in their network, having worked with them in the past. Some people in a recruiter’s network may not even be actively trying to find a new job but might be swayed to check out an opportunity they find appealing.
We Can Provide You with a Massive Return on Your Recruitment Investment
At Jarvi Group, we pride ourselves on providing big returns on our clients’ recruiting investments. Please contact us today to find out how we can financially benefit your organization.