If your business is struggling to make strong hires and keep up with high turnover rates, you’re not alone. In the Spring edition of Harvard Business Review, Peter Cappelli summed up today’s recruiting nightmare well, saying, “Businesses have never done as much hiring as they do today. They’ve never spent as much money doing it. And they’ve never done a worse job of it.”
More and more employers are making the decision to outsource recruiting to headhunters and recruiting agencies. Here’s why outsourcing your recruiting might also be right for you.
How Recruiting Agencies Work
How these agencies work depends on your specific hiring needs. Do you already have a hiring process that you’re comfortable with? Recruiters can survey the field of candidates, qualify leads, and submit one (or a few) top people that fit your demands. You can take it from there.
However, if you are frustrated with the whole process, you can simply outsource the entire recruiting and hiring to an agency. Not only will they bring you the top candidates, but they will also handle interviews and everything up to employee orientation.
The Goodkind Group offers flexible recruiting programs so companies are able to tailor the recruiting process to their specific needs.
Because there are pros and cons to each approach, it is best to consult leadership within your own company and then interview a couple of agencies. Be frank with the agency about your hiring problems and let them offer suggestions and a pricing model to match what they believe to be a good solution.
What Does a Recruiting Agency Cost?
Cost structures vary among agencies. However, most require payment only when they’ve successfully staffed your open positions. Make sure to discuss “contingencies” with your agency, such as what will happen if the new employee they hired doesn’t work out.
What Hiring Problems Do Recruiters Effectively Address?
Recruiting agencies exist to take away the pain of talent acquisition. There is a larger supply of job seekers than there is demand for them, so posting on job boards results in a massive overload of resumes from qualified and non-qualified candidates alike. Selecting the right new hires is overwhelming and can drain company resources.
Shrinking Your Turnover Rate
Most businesses find that they must keep recruiting and hiring because they struggle to acquire the right talent. The result is that a new employee onboards and then leaves (or you must let them go) after only a few weeks or months on the job. Recruiting agencies are great for shrinking your turnover rate.
Lowering Your Costs
Do you have an entire department dedicated to recruiting and hiring? While outsourcing your recruiting agency should never replace your human resources department, your business’s recruiting efforts are probably costing you much more than they would if you outsourced to seasoned recruiters.
Finding People With Special Skills and Experience
Due to accelerated advances in scientific research and technology, finding skilled workers is getting more challenging. Hiring project managers with the right kind of experience and transferable skills is also difficult. The Goodkind Group’s recruiters know how to find people with the specific skills and experience you’re looking for much faster than the average hiring manager.
Matching People With the Same Values as Your Business
In addition to technological advances in the workforce, the collective rise in emotional intelligence and general awareness of long-term sustainability means that employees care more about values than they did twenty years ago. That means that you may find your new hires walking out simply because they do not share the same values as the organization.
Recruiting agencies can avoid this conflict by making sure that your new hires have the same values as your organization. Additionally, they can find good fits for your company based on personality type and more.
At The Goodkind Group, we have accumulated a significant database of employees, making the selection process much easier and helping to avoid pitfalls such as turnover and mismatching. We do background checks and vett every person before we suggest them as a recruit. Our solid network of talented potential employees makes the recruiting process faster and more dependable.
How to Get Started With Outsourcing Your Recruiting
If you believe that your business could benefit from outsourcing recruiting, now begins the task of finding the right agency. Use Google or another search engine to sift through the top agencies within your industry,. You might also utilize headhunter directories. As you talk to recruiters about your needs, here are a few things to consider.
Make sure you know what you are looking for in a new hire. This includes the job description and a skills list. Recruiting agencies should also understand your company’s values and structure.
Tips for Hiring the Right Recruiting Agency
First, ask lots of questions. How long does it usually take for them to find the right people? When do they get paid? What if a new hire doesn’t work out? What kind of collaborative effort does the recruiter expect from you?
Second, define the role of the recruiting agency. Are they only finding candidates, or do you want them to handle the entire hiring process?
Lastly, use the financial and logistical margin you’ve gained from outsourcing recruiting to improve your human resources department. Some businesses outsource their HR, too. Others hire from within. Make sure that your pay structure and policies are conducive to good talent management.
For more information about how the Goodkind Group can help your business meet its staffing needs, contact a consultant today at (212) 378-0700, or reach out to us online. We look forward to helping you meet and exceed your hiring standards.