Having spoken with many business owners and candidates, we are aware the current pandemic has had a negative effect on the personal and professional lives of people. Sadly with Furlough coming to a close, we are seeing an increase in talented candidates being made redundant and anticipate this figure to continue increasing until the end of the year.
On top of redundancies, our research into the candidate market shows a desire amongst those who have been furloughed to change jobs, with 60% looking for new employment due to feeling insecure in their current role.
With more candidates in the market, you may think it will be easier to fill your role directly and won’t need the assistance of a recruiter. But, that is not always the case.
Why should I spend money on a recruiter?
When pitching our services to clients, monetary factors for hiring firms are understandably the biggest turn off from using a recruiter at the moment. Whilst we appreciate this is a very real barrier, we encourage business owners and hiring personnel to take a step back and consider the wider picture.
Managing your time
On peak days, we are seeing an average of 64% more applications from July to August compared with March 2020, reflecting the increase in available candidates competing for up to 50% less available roles in the market.
Whilst you may consider this to be a positive as you will have access to a wider pool of candidates, in reality a candidate heavy market can hold more negatives for a company. Most notably, an increase in applications does not always mean quality.
With many employees panicking post redundancy or simply looking to change roles, some are applying for everything and anything, meaning you have a large amount of over and under qualified candidates to sift through.
This puts added pressure on yourself as a business owner or hiring manager, reducing the amount of time which can be allocated to other potentially more pressing tasks. Though they come at a cost, by using a recruiter you will be able to alleviate this pressure. We can not only advertise jobs for you, but can manage the flow of applicants, screening applicants and sending you only those with the relevant skills and experience to put through your own processes.
By utilising a consultant you will have access to a wealth of knowledge which you may otherwise be unaware of when it comes to recruiting in general or for a specific skill set. A good recruiter will advise you on how you can conduct processes to ensure a consistent and fair experience for every candidate, provide advice on specific areas like salary rates and benefit packages and offer you access to the passive candidate market.
Just because the market is seemingly awash with good talent doesn’t mean that the best person for your role is actively looking. By using a recruiter who is immersed in their sector, you will have access to those candidates who are more passive with their job search and those who benefit from the reassurance and support of a dedicated consultant.
Whilst you may believe you have found the perfect candidate, they can still have some hesitations around going for a new job, especially as the country heads into a recession. Recruiters are trained negotiators, and may additionally be able to help you convince candidates to make the move if they are having concerns.
Brand and reputation management
A good recruiter should act as an extension to your brand, by promoting it in a way which ensures you are best represented in the market in the most professional way possible. Marketing experts will understand the power which third-party promotions can have on a brands reputation externally, a factor which is pivotal to securing candidates in the immediate and long-term.
A 2019 Glassdoor survey highlighted that 77% of adults would consider a company’s culture before applying for a job, with over half of respondents saying culture is more important than salary in determining job satisfaction.
Ensuring you hire candidates which are a cultural fit with your organisation is likely to lead to higher levels of job satisfaction, meaning in the long-run you may have to dedicate less time and money to replacing unsatisfied team members if you get it right the first time around.
Once you allocate a cost to the time spent sifting CV’s, screening applicants, arranging interviews and managing all of those unsuccessful applications as well as your advertising costs, using a recruiter suddenly seems like the most cost effective option. Talk to us, we have several services available to suit most budgets!
If you’re looking to recruit in to your business and want to reach the best talent in the most cost effective and time efficient way, get in touch, we would love to have an open and honest conversation with you about how we could help.