Over the years, the art of hiring has undergone many shifts. But none as profound as 2020.
Employers are forced to adapt time and again as the market continues to become more and more candidate-driven. The fray to catch hold of the best talent has become incentivized like never before. Organizations, especially the smaller ones, are often left behind in this competition because of their size and lack of industry expertise. Choosing a good recruitment agency not only makes the task at hand easier but ensures you land the perfect candidate to suit your needs. Here is why investing in a good recruitment agency is a must to get ahead in today’s tough financial times.
Time To Change Your Tact
Coronavirus pandemic has caused chaos in the job market. Companies have been laying off employees left, right and centre. It is obvious that the lack of manpower will impact the turnaround time of the hiring process. Good recruitment agencies possess the expertise and manpower to significantly shorten the whole process of choosing the right candidate. A good recruitment agency doesn’t compromise in quality when delivering a candidate quickly. A recruitment agency aims not to just provide a list of candidates, but bring you to the best talent.
Watch: How Recruitment Agencies Function?
It is no surprise that finding a list of potential candidates is not even half the task. Shortlisting, interviewing, and finally placing the candidate often make you wait to welcome the right fit to your team. Recruitment agencies play a prominent role as an overall hiring facilitator.
“Your recruitment agency should play a prominent role as an overall hiring facilitator.”Gurinderpal Singh, Founder, TMSS Talent21
1) Market Knowledge Helps Activate The Radar At The Right Place
A good recruitment agency provides greater access to top candidates. As the agency holds an enormous network of candidates, top-tier talents are attracted to these firms. The agencies have in-depth knowledge of the industry and local employment conditions; they always have an upper-hand over the in-house recruiters.
2) Cost-Effective Hiring Process
By getting a recruitment agency to look after your talent acquisition needs, you can save a substantial amount of money that can be diverted towards something productive. In-house recruitment teams are way more costly than hiring an agency, and the icing on the cake is the agency does it better. For an organization during its initial development with a small team, it is wise to be prudent in your choice when analyzing which is a good recruitment agency for your needs.
3) Reduce New Hire Turnover
A new hire is often expensive for any organization. A substantial amount of money is spent on the candidate’s training, and the organization also spends extra time and resources to find and train the replacement. So, a poor retention ratio often results in unnecessary expenditure. Attrition happens when the candidate finds it difficult to fit into the organization’s culture. So, choosing a good recruitment agency saves significant capital by finding the best fit for the team. They have all the required resources to get to the candidate who can easily blend in and work for the vision for a long time.
“In-house recruitment teams are way more costly than hiring an agency, and the icing on the cake is- the agency does it better.”
Gurinderpal Singh, Founder, TMSS Talent21
4) Adapt To Changing Times
The current COVID times have shown how changing times can impact any process. So, a small in-house time may not be well-equipped to cope with the recruitment industry’s dynamic order. Recruitment agencies stay updated with new and proven hiring practices and techniques. It can help you in many ways than you expected.
5) Eye On The Competition
Poaching talent from competitor firms is often advised against in any industry. There is an unsaid “gentlemen’s agreement” between businesses with respect to poaching. However, a wrong piece somewhere may have the potential to become the right piece at your place. So, it will be a win-win situation for all the stakeholders. You can always approach, screen and choose good candidates of your competitors through recruitment agencies, which otherwise would be impossible. It upholds the integrity of your organization and ensures that the right candidates land at your place.