In business today, one factor remains true, talent is the driver of success. Companies, regardless of size or industry, are only as strong as the people who drive their vision forward. However, in today’s marketplace, finding the right talent can be a challenge.
In this post we’ll explore the advantages to partnering with a recruiter whether it be tapping into talent networks, pinpointing the right candidates, or helping navigate the complexities of hiring. Recruiters can be a key element in hiring that top talent to meet organizational goals.
What is a Recruiter?
A recruiter serves as the connection between job seekers and employers. They help companies to locate top talent that not only fit the requirements of the job, but also the company culture. Recruiters then act as a liaison to both parties throughout the hiring process.
The Importance of Hiring Top Talent
In a recent study of over 600,000 researchers, entertainers, politicians, and athletes, it was found that high performers were anywhere from 50 up to 800 times more productive than average performers. The more complex a job is, the higher the productivity gap is. This study exemplifies how important it is to find and retain top talent.
Challenges of Finding the Right Candidates
Today’s marketplace has given companies a unique set of obstacles in finding the right talent. 50% of respondents to one of SHRM’s studies stated that a lack of experience is a common challenge among HR professionals hiring talent. Couple this with the current competition in the market for the same top talent, companies are faced with growing challenges in recruiting.
The Role of a Recruiter in the Hiring Process
A recruiter’s main goal is to pinpoint the right talent and help guide both candidates and companies throughout the hiring process.
Guide to the Market
Recruiters speak with active and passive candidates daily and have a great pulse on the market. They are aware of what current salary expectations are, what sorts of benefits are important, and the overall trends of candidates in the marketplace.
Networking and Sourcing
Recruiters work to develop a deep bench of candidates and networks they reach out to for job searches. They use a variety of tools including well known ones such as LinkedIn or Indeed, along with proprietary systems and databases to reach, nurture, and connect with talent.
They continue to build trust with their network and a candidate may be more open to hearing about an opportunity from a recruiter they trust over someone they have not worked with prior.
Most recruiters also utilize job boards to post out jobs they are trying to fill. Posting job advertisements can be very costly, so using a recruiter can save on this particular expense for companies.
This saves companies a tremendous amount of time and resources for sorting through hundreds of applications, paying for services to contact potential candidates, and the time it takes to screen all of the candidates they locate.
Screening Candidates for Fit
Once recruiters identify potential candidates for a position, they then conduct a full thorough screen. This allows them to learn more about the candidate’s experiences, soft skills, how they present themselves, and potential cultural fit for the company that is hiring.
Recruiters will do the research and conduct these screens to present only the most qualified candidates to the hiring companies.
Recruiters have relationships with both the hiring companies along with the potential candidates. They can aid in keeping the communication lines open (a very important part of a smooth hiring process) and help make sure the candidate and company are on the same page throughout the process including offer negotiations.
The Cost and Time Savings of Partnering with a Recruiter
Though there is a fee for a company to hire talent through a recruiter, it can still be a cost savings when broken down. Paying individually for job postings to high traffic networks can be very costly. Once a job is posted, sifting through hundreds of applications, setting up phone interviews, monitoring the communication with those top candidates, and offer negotiations can be a full-time job in itself. That’s not to mention the opportunity cost of missing passive talent that is not actively applying to jobs.
For most small companies without dedicated recruiters, partnering with a recruiter can be far cheaper than paying for a full-time salary and benefits to bring someone on internally.
With larger companies that do have internal recruiters, partnering with external recruiters can still be beneficial for a few reasons. One, they can provide an additional pipeline of candidates, especially when internal recruiters are hiring for so many jobs at once they cannot keep up. They are also able to provide feedback from candidates in the market that may not be as transparent when speaking directly with a company recruiter.
Lastly, recruitment firms typically offer replacements if something unforeseen happens with a placed candidate. This can save companies time and money of having to start the search from scratch on their own.
Partnering with a recruitment firm can have some advantages, no matter the size or industry of a company. If this is something you have been considering, please reach out to us and we can connect and see if we are the best partner to help with your recruiting needs!