In business, time and money are closely linked. Especially in the area of recruiting, wasting too much time during the hiring process or making the wrong hire right from the get-go can cost you and your business more money than you can afford. Working with a reputable recruiting firm can help you avoid these costly mistakes, improving your chances of success and leaving you happy with your candidate match. Here’s how:
They Know Where to Find the Best Candidates
One of the biggest time wasters for finding candidates on your own as an employer is not knowing where the best recruits are hiding. You can spend hours scouring the Internet and job boards and still walk away empty handed, no better off than when you first started. This is a major contribution to why it takes some businesses up to three months to fill an empty position—a huge gap of time that your business can’t afford to waste. With a recruiting firm, this time spent searching is cut down completely because they already have a network of top talent just waiting to hear from you. Their screening processes and skill testing ensure that your role is matched with the top percentage of candidates, filling your job faster than ever.
Reduce Employee Turnover
A high employee turnover rate can be extremely bad for a business. When your workers are dissatisfied with the role or are unfit to do their job properly, your business’s reputation suffers and you lose an unprecedented amount of money. The cost of a bad hire can be up to $50,000, making it crucial that you make the right hire the first time around.
Recruiting firms have rigid qualifications for their candidates, and in many cases a firm will work with candidates on a consultative basis beforehand, giving recruiters a more informed idea as to whether or not they’ll be a good fit for your company. With this tailored hands-on approach, you don’t have to fear the dreaded high employee turnover rate, because you’ll be presented with the right candidate the first time around.
Gain Access to Passive Candidates
One of the best ways to reduce training time and costs during the hiring process is to approach passive candidates. Hiring these types of candidates is often the best and most cost effective decision an employer can make, but they can be incredibly hard to recruit due to the fact that they’re not actively seeking employment. Passive recruits typically already have jobs, but might be tempted to join your team should the right offer come along.
A good recruiting firm knows exactly what will convince these top candidates to consider your company, and they know what it takes to keep them satisfied once they’re successfully hired. Best of all—they already have a network of these passive candidates due to their long-lasting relationships with their clients, cutting down on time spent searching the market.
Don’t Waste Your Time on Paperwork
An employer’s worst nightmare: piles and piles of resumes and cover letters to sort through, with no end in sight. It can be disheartening to sort through dozens of resumes of applicants who don’t quite fit the bill, not to mention time consuming work that is better spent doing something else.
Engaging with a recruiting firm means that all of this work has already been done for you. They already have a wide variety of the best candidates on file, saving you from doing one of the most lengthy parts of the hiring process—and cutting down on time and money wasted during your search.