In the corporate world, recruitment agencies or recruitment firms have been getting increasingly popular. Searching and hiring the ideal employee with the right skills has been getting more difficult. More and more organizations and companies are relying on the network and expertise of a recruitment firm for filling company positions rather than depending on in-house human resource hiring. What exactly are recruitment firms? How do these recruitment firms work? Why do companies prefer them over in-house recruitment? Keep reading to find out.
What is a recruitment firm?
Recruitment firms or recruitment agencies are organizations that make it their goal to search for suitable contenders for specific positions in the client’s company or organization. In essence, client organizations outsource the entire recruitment process from candidate search to the actual hiring. By considering the specific job description given by the client organization, recruitment firms will search for qualified contenders through their access to a large network inside the job market as well as instruments such as social media, job hotspots, job fairs, and job websites.
How do recruitment firms work?
Client organizations hire recruitment firms or recruitment agencies to find candidates that fit a specific open position in the organization. The agency’s recruiters do this by doing background research on the open position and by communicating with the client company in order to understand what exactly is being sought out. The recruitment firm will then identify qualified candidates by utilizing instruments such as social media and a wide network of job candidates. Once the firm has found a potential candidate, the contender’s resume and curriculum vitae will be screened, a thorough background check will be made, organizational fit will be assessed, and other relevant information about the applicant will be appraised. If a potential match has been assessed, the recruitment firm will then interview the potential hire and discuss terms.
Recruitment firms structure their fees and services in a couple of ways:
- Contingency Recruitment – a salary-based fee is paid only if a successful hire is made
- Retained or Executive Search – an up-front fee is paid for aid in making a hire
- On Demand Recruitment – an hourly rate with a regulating level of aid is paid
- Recruitment Process Outsourcing – a payment is made for completely replacing the client’s entire recruitment process
Why work with a recruitment firm?
One of the many reasons to work with a recruitment firm is the faster and more efficient hiring process that would otherwise be incredibly time consuming when using an in-house human resource hiring team. This will not only save a ton of resources and time, but will also allow the client to focus on different business processes instead.
Furthermore, the client will in turn have access to a large pool of qualified contenders by using the recruitment firm’s wide network and job market reach that have been developed throughout their years of experience. With this in mind, the client will be able to reach both active and passive job-seekers in the market, which means that the client is able to access those who are actively looking for work as well as those who are currently employed elsewhere.
If the client is a small or start-up company that does not have a dedicated in-house human resource hiring team as well as insufficient resources to hire on their own, recruitment firms are pretty much a smart choice for them as well. This is especially because they may not have the expertise to be able to go through the hiring process efficiently and effectively.
There are also situations wherein the specifications and requirements for a candidate are very particular and specific. This is usually the case when it comes to filling in executive, senior-level, and C-level positions in the client company. Experts who know exactly what skill set is required whilst having a quality database to pick from may be necessary in this particular situation. A recruitment firm would pretty much filter any candidate that does not fit the criteria while being able to access passive job-seekers.
Depending on the recruitment agency, the client may also get additional services that may help in the recruitment process, especially when the client is very particular with the type of candidate being sought out. Examples of these additional services include psychometric tests, which may give a lot of insight for the candidate. Handling these services in-house would otherwise be incredibly expensive and tedious, thus making recruitment firms even more viable.
Looking for the right hire may prove to be incredibly difficult when trying to get job seekers interested in a specific position in the organization. This is where a recruitment firm’s professional outlook, market familiarity, and industry proficiency come into play. Recruitment agencies have tons of knowledge and years of experience behind them as well as the fact that recruitment is the main service they provide. These firms are experts at screening, profiling, and filtering a variety of job seekers. This is especially useful when opening a new position wherein you do not know much about the benchmark and skill requirements. In addition to that, these recruiters will have the knowledge, skills, and resources to obtain the best talent, salary rates, and skill sets in the job market.
In today’s constantly evolving competitive job market, looking for and hiring the ideal contender with the qualified skills set may prove to be difficult. It has never been more useful to have a recruitment firm available. If you own a business or are a leader or major decision-maker in an organization that may be interested in outsourcing recruitment and hiring, consider checking out Springboard PH. Springboard PH is a human resource and executive search firm in the Philippines that provides services such as headhunting and recruitment.
For more info: https://springboard.com.ph/