Redefining Recruitment
Redefining Recruitment
Recruiting and hiring the right candidates is essential for the success of any organisation. However, the process of finding and hiring new staff in the current candidate-driven market is becoming more challenging and expensive. In a recent HR Review article, it was highlighted that it is now costing approximately 26.1% of an employee’s salary to find and hire new talent and can take an average of 40 days! There are several factors contributing to the rising costs of recruitment and at Allstaff, we offer complete recruitment solutions and advice to help local businesses save money while still hiring quality candidates.
With more businesses in almost every industry looking to recruit new talent, and a shortage of candidates looking for opportunities, the competition for talent is on the rise. As a result, employers are willing to spend more money on more effective recruitment strategies and/or increased starting salaries and benefits packages to attract and retain the best candidates.
Technology has revolutionized the recruitment process, with social media, applicant tracking systems, and video interviewing tools becoming increasingly popular. While these technologies have made recruitment more efficient, they come at a cost. Job boards are also a great and highly used tool by recruiters to help source candidates and post job adverts. However, these job boards come at a price, most of which saw an increase in price by over 30% in the last year alone.
There is a shortage of qualified workers in many industries, particularly in technical fields. This makes it difficult for employers to find suitable candidates and drives up the cost of recruitment. Some skilled workers for very technical or niche roles may require sponsorship or assistance with relocation fees, which will come as an additional cost to employers.
The broader economic context also influences the cost of recruitment. With the cost of living crisis driving prices up everywhere, employees are turning to their employers to help financially. Employers are under a lot of pressure to offer higher starting salaries and offer more frequent pay rises as they want to remain ethical. Typically, employers would offer pay rises to employees as a reward and recognition for hard work. Now, however, they are seeing that they are having to offer pay rises across the company as many see it as their employer’s responsibility to help.
Outsourcing recruitment to a third-party provider can be one of the most cost-effective options, particularly for small businesses or those with limited recruitment resources. Recruitment Agencies such as Allstaff can handle the entire recruitment process, from advertising job openings to conducting initial interviews, reducing the workload on internal HR teams.
Advertising job openings can be expensive, especially when using job boards. As a Recruitment Agency, we can help reduce these costs by advertising across several job boards as well as our own platforms, such as our website or social media pages. At Allstaff we are subscribed to several job boards including TotalJobs, Reed and CV Library, allowing our adverts to reach a wider audience and be able to tap into a wider talent pool. In addition, Agencies also have extensive networks of candidates which we can use to find suitable candidates quickly and efficiently.
Recruitment agencies can save companies time by handling the entire recruitment process, from advertising job openings to conducting interviews and negotiating salaries. By managing all the applications and screening the candidates, we are able to create a relevant and validated shortlist of candidates for you to review. With it taking an estimated 40 days for companies to find and hire talent, finding ways to save time is paramount! It then frees up company resources and employees allowing them to focus on other important areas of the business and usual duties.
The recruitment process can be time-consuming and requires a lot of paperwork including but not limited to creating compelling job adverts, sending pre-interview assessments and managing resumes and applications in a GDPR-compliant manner. We also create detailed job briefs and person specifications which we then use to provide a validated selection of high-calibre Candidates. As a complete recruitment solution, Allstaff can handle this paperwork on your behalf, reducing administrative costs and streamlining the process. All you have to do is ensure you have time in your diary to review your shortlisted candidates and meet them for an interview.
Recruitment agencies have extensive networks and can access top talent that might not be readily available to a company. At Allstaff we have a GDPR-compliant database of 1000s of candidates, which we proactively use in addition to the job boards. We are able to see those who have previously applied and discount those not suitable. We have the resources and experience to find quality candidates quickly and efficiently, reducing the time and effort our clients would need to spend on recruitment.
We can help reduce employee turnover rates by not only finding the right candidate for the job but for your company and team as well. By matching a candidate’s skills, experience, and personality with our client’s culture and needs, we can ensure that the new hire is a good fit, reducing the likelihood of turnover and saving the company money on rehiring and training costs for the short and long term. We are proud to guarantee a match not just based on skillset, but personality and career ambition combined.
Recruitment agencies can be a valuable resource for companies looking to reduce their recruitment costs. By leveraging Allstaff’s expertise, network, and resources, our clients can be sure that they can hire quality candidates quickly and efficiently while saving time and money. With competitive rates, we can help reduce administrative costs, access top talent, and lower employee turnover rates. In a competitive job market, investing in recruitment is essential, but it is possible to do so while being mindful of the bottom line and keeping costs under control.
If you are looking for help with recruitment, why not complete our client callback forms today and one of our dedicated Bedford, Milton Keynes or Northants specialists will be in touch…
