Businesses everywhere face an increased challenge to find qualified candidates to fill open positions amid economic changes. Around 90% of businesses are struggling to find skilled candidates for vacant positions. If this is a main concern for your business as well, then outsourced recruiting services may be the answer.
Recruitment outsourcing is one of the most in-demand resources for businesses. It can help you save time in the recruitment process with qualified candidate recruiting. It also streamlines the assessment and evaluation stages.
Are you interested in learning more about the benefits of outsourcing your recruitment? Then keep reading below for 14 great reasons.
1. Offers Expertise in the Recruitment Process
The recruitment process can be daunting. Trying to handle recruitment marketing and sorting through piles of applications can be a chore.
If you're not sure what you're doing, it can feel like throwing a dart at a wall and seeing where it lands. Then you're trusting that you've magically landed on the right candidate.
Recruitment outsourcing can help you navigate this complex process with ease. They specialize in organizing and managing the recruitment process. You can trust that they have the expertise you need to screen and evaluate potential candidates.
An outsourced recruiting agency also has the most effective candidate sourcing and industry knowledge. This is needed to understand the complexities involved in the hiring process. With outsourced recruiting services, you can be sure that your hiring needs are in the most qualified hands.
2. Provides Cost-Effective Resources
In the U.S., the average cost per hire is $4,700. Using outsourced recruiting services reduces your overhead costs since you don't need to rely on an in-house staff.
You also don't need to undergo the painstaking, costly effort of training an in-house staff on the recruitment process. Instead, you're tapping into the vast knowledge and expertise of an established recruiting service.
By partnering with specialized recruitment agencies, you won't need to resort to doing your own job advertising, which can be a costly task otherwise. This cuts down on other recruitment costs.
A recruitment outsourcing agency also has access to valuable tools like the applicant tracking system (ATS). The ATS automates qualified candidate recruiting and tracking. This helps streamline the recruitment process and lowers additional administrative costs as a result.
3. Gives Access to a Wider Talent Pool
In some cases, you will need to narrow down your job vacancy candidate search. For example, you may have a job vacancy that is considered to be in more of a niche industry. Because this industry may require a more specific set of job skills not common among other industry openings, it can also be harder to fill.
Outsourced recruiting services can more easily find the right candidates to fill these niche areas. Their targeted resources and detailed databases give them access to a much wider talent pool. They have the ability to identify candidates who possess the experience and the knowledge to fill these niche skill sets.
4. Reduces Time-to-Hire Rates
It can take an average of 44 days to fill a job vacancy. The hiring and recruitment process can be a delicate balance. You want to ensure that you are hiring the best possible candidate for the position without settling too quickly.
Job vacancies that are left open for long periods of time can greatly impact your cost per hire. Your business can also run the risk of losing potentially high-quality candidates to other jobs if you don't act fast enough. So, how can you be sure that you have the right balance of qualified candidates?
Outsourced recruiting services can help you efficiently through targeted searches and comprehensive candidate databases. Since they have extensive networks at their disposal, they can easily sift through multiple applicants to find the most qualified candidates.
Using these resources can help reduce the time-to-hire and place the right candidate in the vacant position much sooner.
5. Enables Time-Saving Efforts
You've probably heard the phrase, "time is money" many times before. Well in the business world, this saying still rings true. If you're spending too much of your in-house team's time and effort on job recruitment, you're likely not focusing on other important elements of your business as a result.
You can't be everywhere all at once or spread yourself too thin. But you don't have to do it by yourself. In this case, it may be necessary to turn to recruitment outsourcing.
Outsourced recruiting services can be a big time-saving asset. While they handle the nitty gritty of the recruitment process, you can focus your attention and your efforts on other areas of your business.
6. Minimizes the Likelihood of Bad Hires
If you think that the cost-to-hire figure is high, there's more bad news. The cost of a bad hire can range anywhere from $17,000 to $240,000. The exact figure can vary depending on the specific job role and the company itself.
Bad hires are those that seemed good in theory but aren't the right fit in practice. Their resume may have been impressive. But if that and a few vague interview questions are all you're basing your final decision on, you may end up regretting your decision later on.
The job of outsourced recruiting services is to save you from these costly bad hires. It is their mission to conduct qualified candidate recruiting on your behalf. They ask pertinent questions and do a deep dive to evaluate potential candidate skills to find the best fit for your company.
7. Optimizes the Onboarding Process
Finding the right candidate for the job is one thing, but ensuring that they transition smoothly to their new position is another aspect entirely. Proper onboarding is a critical step in the recruitment process.
If a new employee doesn't feel comfortable in their new job right away, it can stifle their productivity and potentially lead to high job turnover rates. Outsourced recruiting services work to not only lead qualified candidate recruiting but can also assist in the onboarding process as well.
Onboarding can include tools like new orientation videos, training, and skill development programs. These elements allow for faster workplace integration and a reduction in errors. In doing so, a new hire will feel more confident and prepared to take on the responsibilities that come with their new job.
8. Adds a Layer of Workplace Confidentiality
Transparency in the workplace is key, but sometimes a business needs to maintain a certain level of confidentiality during the hiring process. Your business or organization may deal with sensitive data in the healthcare, financial, or defense industries. In this case, it is vital to protect this information at all costs.
Your business may be searching for a top-level executive position that you want to keep quiet until you know all of the details. You may also be trying to protect your business from having your candidates poached or enticed away with a competitor's higher salary counteroffer.
Whatever reason you have for needing confidentiality, outsourced recruiting services will strive to maintain a level of professionalism and trust throughout the recruiting process.
9. Creates Customized Recruitment Strategies
While businesses and industries may look alike on the surface, each company has its own unique hiring requirements. There are businesses of all sizes and classifications. Therefore, the recruitment process should not be seen as a one-size-fits-all approach either.
That's where outsourced recruiting services can come in handy. If you're looking for a particular candidate who will fit in well with your specific company culture, a recruitment agency will take the time to understand what qualities, attributes, and values you want most.
Another way an outsourced recruitment agency can help with customized recruitment strategies is by utilizing targeted candidate sourcing. Recruitment outsourcing uses the most relevant search resources to pinpoint where the best candidates will likely be found.
10. Opens Up Diverse Candidate Pools
Diversity isn't just some box you check for company compliance. You want a hiring candidate to be a good fit for your business, but you also don't want to overlook qualified candidates based solely on outdated racial, disability, cultural, and gender norms.
Your business needs to consider diversity hires as well. Diversity hires have been proven to bring new levels of creativity and innovation to the workplace and make stronger leaders. They also improve your company's reputation and make consumers consider your brand more favorably.
Diverse workplaces are on the rise with jobseekers who are seeking out their ideal workplace environments. By using outsourced recruiting services, you can access candidates in all areas of inclusivity and diversity. This will allow you to build up a more diverse workplace overall.
11. Incorporates Valuable Market Insights
Outsourced recruiting services aren't strangers to the recruitment process by any means. They have specific knowledge and insights pertaining to many different fields, industries, and job sectors. Using this knowledge allows them to identify any unique opportunities and challenges within your particular industry.
An outsourced recruiting agency can also help track current salary and benefits benchmarks relevant to your needs. This helps you stay up-to-date with current trends and enables you to determine the ideal competitive salary offers.
By using outsourced recruiting services, you will even be able to have insights into the level of talent available for your given industry or job postings. You can view competitive data and market demand for the same positions across your industry. This can help you understand any skill shortages and set realistic expectations and hiring timelines.
12. Helps Identify Potential Hiring Risks
An outsourced recruiting agency doesn't just help you find top talent. It also helps you navigate the complex legal and compliance issues that come with the recruitment process.
For example, outsourced recruiting services use standardized assessments to objectively evaluate candidates. This can help reduce the unconscious bias that may come with navigating the hiring process on your own. The outcome of this will be the most qualified candidate regardless of bias for a more fair and equitable hiring decision.
Consistent candidate screening and reference checking lets you access qualified candidate recruiting. This helps reduce costly hiring mistakes as well. At the same time, you can trust that the recruiting process is actively working to maintain better candidate compliance, accuracy, and transparency.
13. Establishes Long-Term Partnerships
An established relationship with an outsourced recruitment agency can lead to further benefits for your business down the road. For one, your agency will have a better understanding of your business as a whole. They will already know your values, your business's culture, and what you seek in a potential candidate.
They can also proactively build up prospective candidate pools on your behalf. This way, if any potential job vacancies come about in the near future, they will have lists already available for you to access. Proactive hire lists can help streamline and reduce the time it takes to hire quality candidates.
Having a long-term relationship with your outsourcing recruitment agency gives your business a competitive edge in getting the top talent you need fast.
14. Allows for Scalability in Recruitment Marketing
Scalability is one of the best benefits of outsourcing your recruitment needs. You don't need to worry about adapting your hiring needs. They will do it all for you.
If your business grows over time, your recruitment needs will likely change as well to adapt to this change. Outsourced recruiting services have the ability to grow right alongside you. If you need to cut back on recruiting efforts for a while, an outsourced recruitment agency can handle this as well.
Outsourced recruiting allows for more flexibility. Unlike an in-house recruiting team that often has a fixed structure. So, whether you're looking for just one qualified candidate at a time or want to hire a whole new department, recruitment outsourcing is a smart way to go.
Benefit from Outsourced Recruiting Services with Hire Velocity Today
Finding qualified candidates isn't always easy and can be an expensive and time-consuming process. That's why it's so important to have the right resources on your side. Outsourced recruiting services help you take the guesswork out of the recruitment process.
Hire Velocity is your partner in customized RPO solutions. Our innovative talent acquisition strategies can put you on the right path to finding the best candidates for your business. From qualified candidate recruiting to executive search, and talent advisory, we can do it all.
If you're ready to level up your recruiting marketing strategy, contact us today for more information.