The recruiting process can be overwhelming. Yet, many employers still do not turn to recruiters even though those tasked with the responsibility to fill the position do not have adequate experience or time. For all of those skeptics out there, I am here to inform you about why using an independent recruiter might just save you.
Recruiters save employers time
If you are the manager in charge of hiring for a position, it typically feels like you are taking on another full-time job searching for someone qualified to fill the empty role. According to The Wall Street Journal, employers, on average, are taking 25 days to fill vacant positions, with the average increasing to 58.1 working days at companies with 5,000 or more employees. A search taking this long can distract employers from their other responsibilities and potentially increase turnover due to the added workload and reduced support. Factoring in the risk, time and resources needed to take candidates through the hiring process can have adverse outcomes.
Recruiters give employers the ability to actually focus on their real jobs. Not only will an independent recruiter have a specific hiring strategy to find the best candidate for your position, but also they will not stop until they have provided you with a list of top candidates that have already been properly vetted and interviewed (making your life easier).
Recruiters save employers money
The longer you take to find a qualified candidate, the more money you are costing the company by not filling the position. Research shows that hiring an independent recruiter is not only time effective, but it is cost effective as well. According to a study done by CareerBuilder, employees generate 3-5 times their annual salary in value.
So, if you leave a $150,000 position open for just one additional month, that equates to $37,500 to $62,500 of lost opportunity the company will never see. However, even with this statistic, managers should not rush the hiring process and hire just anyone because they think it will save them money. According to a CareerBuilder survey, 41% of companies said that a bad hire cost them at least $25,000 in one year, and 25% said at least $50,000.
You need to ask yourself: “Is searching for this candidate the best use of my time, considering what my worth per hour calculates to?” In most cases, once you add in the overhead costs, using an independent recruiter seems like a bargain and the quickest way to find the right candidate. To keep your company’s bottom line intact, you cannot afford to wait too long to hire someone, yet alone make a bad hire.
Recruiters clearly define the job position
Using an independent recruiter truly forces a company to assess and understand what they are looking for and what gap or skill-set they are trying to close. A part of the recruiter’s role is to advise you about the available talent pool, the practicality of your job description and estimated cost of the talent.
As you evaluate your hiring needs, a recruiter’s strategic counsel can really help to set and manage expectations, making the hiring process smoother for everyone. A bad hire can have negative implications for your company. To avoid this and the costs associated with this, start with the basics, ensure your job description is what you are really looking for and not just pulled from a previous template or Google search.
Recruiters know where to recruit
Have you been asked to help fill a position and vet potential candidates but have no clue where to begin besides making the job posting? Recruiting for the position itself can be difficult. You will not always find the best candidate from a LinkedIn job post because some of the best candidates are not actively searching and applying for jobs.
Independent recruiters know what there is to know about recruiting. They know where to look for talent, they have a large network to find the best talent, and they know how to market the position. Think of recruiters like a detective, the best ones have large connections, tools, subscriptions and belong to groups that allow them to unveil the more viable candidates. Having a pool of top candidates easily accessible can come in handy when you need to fill any urgent hiring requests or needs.
Recruiters know how to attract and obtain the right talent
Locating talent is only part of the job. Attracting the best fit for your open position is the hard part. As much as 80% of employee turnover is due to bad hiring decisions (Harvard Business Review). Use an independent recruiter because they know how to focus their efforts on hiring the right person for your position. After all, it is their profession. The best recruiters will customize their search to your company’s particular needs, culture and skills wanted. They will understand every aspect of the job and the projects this person will be working on. Plain and simple, great recruiters know how to recruit.
But, recruiters are not just resume matchers. They will work to truly market your company, its culture and the position itself to potential candidates since they work closely with the candidates during the hiring process and are privy to private candidate and company information. Recruiters can leverage their relationship with the candidate to help negotiate higher close rates and higher retention.
In the end, choosing a good recruiter is just as important as deciding to use a recruiter in the first place. Look at the history, expertise, reputation and experience of the recruiter. A great recruiter will find great people who will help your company achieve great results.