Why Should Companies Partner with a Recruiting Firm?20 Jun 2018, Posted by Blog in
Filling an open position can cost a company thousands of dollars between the expense of advertisements and interviewing candidates, not to mention the opportunity cost of a role remaining open for an extended period. Partnering with the right recruiting firm accelerates the company’s hiring timeline, gives access to the top passive candidates, and ensures an efficient and effective interview process, resulting in successful hires.
Time is money, and the longer a critical role remains unfilled, the more money it costs the employer. Partnering with a recruiting firm may drastically shorten the time to fill a given position, providing immediate return on investment. Most top recruiters specialize in a niche based on the FILL methodology – Function, Industry, Location, and Level. This specialization means they already have both a thorough understanding of a company’s needs, as well as relationships with a network of top performers they can quickly tap into. They also operate with a high degree of urgency, making a company’s hiring needs their top priority.
All companies recognize the need to hire top talent. However, if their hiring strategy involves posting a job and interviewing whoever applies, they are certainly not getting the best of the best – only the best of the candidates who are actively looking. Most true A-players who are in the top 10% of their field are currently employed, being well taken care of, and not actively looking for a job. Their resume is not on a job board, and they don’t even know that a company’s job posting exists.
An executive recruiter persistently reaches out to these individuals using every means of communication possible. Based on their industry expertise, recruiters are able to quickly develop a rapport with passive candidate. They come to understand the candidate’s primary motivators and career aspirations and present a company’s opportunity as a potential career advancement move. Artfully opening a candidate’s mind to having an initial exploratory conversation when they were not looking to make a change is one of the key skills a recruiting partner brings to the table.
An executive recruiter brings expertise in managing an efficient and effective hiring process. From qualifying candidates at a deeper level and only presenting those who are center of the bullseye, to ensuring that candidates are well prepared for interviews, recruiters save their clients time every step of the way. They keep the client abreast of other companies the candidate might be interviewing with, and the timing considerations that may come into play with such competitive opportunities. Once a finalist is selected, a recruiter assists with reference checks, and consults on what level of offer is necessary for the candidate to accept as well as negotiate a mutually agreeable start date. They also address the counteroffer issue with the candidate early and often to make sure they follow through on their commitment.
A recruiting partner will help their client not only identify and attract the best potential candidates, but most importantly, successfully land the candidate they want to hire.
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