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The Benefits of Managing the Recruiting Process with Hiring Agencies

Is your company growing quickly? Do you need to recruit top candidates to meet your business's demands? When it comes to hiring new employees, you have a few options—Handle it yourself, use your budget to turn over the entire process to hiring agencies, or managing the recruiting process with the help of recruitment agencies. Below is a breakdown of which option might be the best for your company.

Recruiting, Interviewing, and On-Boarding Employees Yourself

Managing the recruiting process and all other steps on your own allows you to decide how and when to conduct each step. It also helps you determine how well your company meets its needs by looking at current employees' performance. If you have a small business or don't plan on hiring many employees this year, handling everything on your own might be the best option for your needs and budget.

However, managing the hiring process can be overwhelming if you don't have an existing team to support you. Researching candidates and organizing staff meetings to discuss potential hires can take a lot of time and be difficult to schedule.

As the sole recruiter and decision-maker, you're responsible for several steps, including:

  • Determining your company's hiring needs.
  • Developing an effective hiring process.
  • Advertising open positions.
  • Reviewing and verifying resumes.
  • Interviewing candidates.
  • Creating a shortlist of candidates.
  • Completing background checks.
  • Choosing new hires.

Even if this doesn't sound like much work, mistakes can be costly at the average expense of $1,300 per new hire, and that price increases by employment level, with the median cost for an executive at $5,000 each.

The benefits of recruitment agencies include working with a professional firm with the resources to handle these tasks and maximize your company's efficiency.

Completing these steps on your own might be the more expensive option, particularly if you don't share the expertise of the industry's top recruitment specialists.

Depending on your business and hiring needs, managing the recruiting process yourself might take months and result in errors that could mean losing out on leading candidates.

Recruitment agencies are equipped to handle tasks like managing the hiring process, saving time and money in the long run. Recruitment agencies are also well-versed in the hiring process for your industry, which means they can help you find top talent more quickly.

Also, when time is a factor, managing the hiring process on your own can be slower and less effective.

Different industries have separate problems with recruiting. Some roles are more challenging than others to fill, making the task for companies more difficult.

According to a Sifted survey in Feb. 2022, businesses are having trouble finding top candidates in several areas, including:

  • Engineering
  • Product
  • Talent
  • Sales
  • Data
  • Marketing

A benefit of working with hiring agencies is that they can help you find and recruit top talent in your industry.

Turning Everything Over to Hiring Agencies

If you would prefer to have the hiring process managed by a third party, there are several benefits of having recruitment agencies handle everything.

Hiring agencies take on all responsibility for the hiring process, including:

  • Researching and finding top candidates.
  • Pre-screening resumes
  • Managing interviews
  • Running background checks
  • Onboarding new hires

Also, they can source and manage temporary workers for contract positions.

This is where you'll find one of the most significant benefits of hiring agencies—you can focus on your company's staffing needs while recruiters handle managing hires and all the time that entails.

This process is best completed by someone with knowledge of the company's employees and hiring process and is the perfect area to place your full attention.

However, these services are extensive, and the best options are far from cheap. Start-ups and small businesses often can't pay hiring agencies' exorbitant fees, which can cause your company to miss out on top talent.

In Sifted's article, a new business owner shares their grievances with the current employment market.

"It’s almost impossible to hire talent as an early-stage start-up and compete with high salaries."

The problem is placing them in between a rock and a hard place. They need top talent, but the fees hiring agencies charge are out of their price range.

Most recruitment businesses charge a percentage of the recruit's salary, and as you can imagine, this can get very expensive fast. These costs depend on the recruiter and agency, but rates can exceed 25% of the employee's salary.

The Benefits of Managing the Recruiting Process with Hiring Agencies

If you don't have the budget but need the expertise, managing your hiring process with an external recruitment agency is the perfect middle ground. As an alternative to doing everything or paying exorbitant fees to hire an agency, managing the process with hiring companies is a better option for companies of all sizes.

You'll find managing the recruiting process with a skilled professional to be effective and cost-efficient, which is why the benefits of working the recruiting process with an agency outweigh the complete DIY option and hiring a full-time recruitment company to handle everything.

Hiring agencies like IsoTalent that don't charge a percentage but offer an hourly fee gives companies the best of both worlds. You get a recruitment expert working on your behalf without the high fees.

Recruitment firms can be even more beneficial to those managing a startup or making new hires. With a recruitment agency managing the hiring process, you can focus on your core employment needs, and let the professionals use your requirements to secure top talent and manage the hiring process.

Types of Candidates Recruitment Agencies Seek

You know the position you need to fill. But a professional employment firm adds more depth to each hire.

By managing the hiring process, a recruitment agency connects with a range of candidates that aren't just looking for a list of open positions. Recruitment companies attend industry events and post jobs to talent communities, which means they can find candidates outside traditional job sites.

Once a recruitment company understands the type of talent your company needs, they start to hone in on the best candidates. They know what types of employees companies are looking for and which specific skills are in short supply.

They can then match those skills with candidates, including those you might not have considered. The agency turns over a list of applicants that meet your company's needs, which allows you to keep managing the hiring process without spending the time to find suitable candidates.

Recruitment agencies find the best fit for your hiring needs. If you don't have a full human resources department, managing the hiring process with a recruitment agency means you don't need to know everything about securing top talent for your company.

IsoTalent offers an hourly rate recruiting service that helps ease those challenges. If this sounds intimidating and you want help to enact these principles, let us know. Our team of experts is ready and waiting to partner with you to find top recruits for your company.

Talk to Our Recruiter Team