Why Outsource Recruitment For Your Business?

Whether you’re a start up or an established business, hiring the right people for various roles in your organization is crucial to ensuring long-term success. However, the recruitment process can be daunting and time-consuming, and you still have no guarantees you’ll be able to find the talent you are looking for. According to statistics, 80% of businesses say they are struggling to fill new job openings due to the lack of desired skills. As your internal HR team continues to seek the right candidate for the job, it adds to your costs with every passing day.  

Fortunately, you can save yourself time, money and hassle by hiring an external recruitment company to find the best and the most qualified candidates to fill the key positions. Let’s explore why it’s a more viable option than having your internal HR team take care of the recruitment process.  

Recruitment Can Be Quite Expensive When Done Internally.

Well, the overall recruitment costs associated with managing the process internally should be enough for you to think about outsourcing the recruitment function. Here we have a quick breakdown of how the process becomes expensive when done internally.  

Up Front Costs Are Big 

When you’re looking for new candidates for a job, you have to pay advertising and hiring fees. As you spend time finding, interviewing, and screening candidates, you keep yourself away from your core responsibilities and it potentially leads to lost revenue. According to a 2014 report from Oxford Economics, businesses spend £5,433 on average to cover logistical costs linked with hiring. If you have a dedicated HR team or manager onboard, you have to pay their salaries. These costs can add up fairly quickly if you’re always on the hunt for new recruits to replace bad performers. 

Background Checks and Security Clearance Costs 

When you find a suitable candidate for the job, you want to follow the industry’s best practices and run background and security checks to know more about them. To ascertain you’re making the right choice, you can verify their educational records, performance reviews from past employers, and even their criminal record. These checks will add to your recruitment costs significantly.  

The Cost Of A Bad Hire 

After all the money you spend on the recruitment process, what if you end up with a bad hire? It could cost you big, making internal recruitment even more expensive. You not only have to repeat the entire recruitment process, but poor performers may even result in losing your clients and revenues. In the UK, 27% of businesses say the costs of one bad hire can go over £50,000. It affects everything from your overall employee productivity to sales and revenues.  

The Benefits of Working With An External Recruitment Company

Outsourcing your recruitment function to a specialist recruitment company will not only save you the costs mentioned above, but it will also make the process more efficient. They specialize in recruiting for a specific industry, like tech or power and have the expertise and knowledge to match the best candidates for the roles you want to fill. Let’s explore the key benefits of using a recruitment agency.  

Access To Better Quality Candidates and Talent 

Specialist recruitment companies maintain comprehensive databases of active candidates in the industry. They have access to a large pool of talented jobseekers and can quickly connect you with the best talent for the role. They recruit candidates who are technically better suited for the job and also align with your organization’s values to ensure a successful hire in the long run.  

You Can Hire The Best Candidates For The Role 

It is essential to understand the industry to identify better-quality candidates for the job. For instance, a recruitment agency that operates in the IT Software Development industry will have an in-depth insight and understanding of this market. With a close understanding of the terminology, technology, duties, and functions associated with the role they are hiring for, they’ll be better placed to separate the best candidates from the average ones.  

You’ll Save Time and Money 

The role of recruitment agencies is to expedite the hiring process, and they’ll save your business precious time and money. They advertise for the job, collect CVs and assess them, check references, and filter out the top talent for the position through proven interview techniques. Quite often, they have already done all the screening and can provide skilled talent for the job within a day or two. It helps save you time, and the recruitment process becomes quite cost-effective.  

You Don’t Have To Deal With Legal Complexities 

Due to the complexity of the recruitment law, it is often misunderstood. There is usually confusion around diversity in the workplace, wages, unfair dismissals, and maternity leaves. Recruitment companies constantly stay up-to-date with new laws and amendments and can help avoid any legal complications in the hiring process and afterward.  

Trigger Business Growth 

When you hire a recruitment company to take care of your staffing needs, you spare yourself a lot of time to focus on core business processes to boost growth. Furthermore, they hire top-quality talent for you to help improve overall performance and achieve business goals.  

Conclusion 

External #recruitment companies offer invaluable services and help organizations save time and money with their expertise and access to a large talent pool. A recruitment agency allows you to scout the best available talent in a tight job market. With their support, you can quickly fill job vacancies in your organization and hire the right person for the job to maximize business growth.