Recruiting the right fit for your business is probably one of the most important facets of running a successful venture. In this digital age especially, where companies are acquiring talent even across borders, maintaining in-house recruitment can quickly become an arduous and sometimes risky endeavor. However, outsourcing offers an expedited solution to hiring the best employees at competitive rates at less than half the time.
Although some business owners are not entirely on board with outsourcing, they fail to realize that it forms part of their everyday life. For instance, if you need complicated light fixtures installed in your home, it’s a no-brainer, you call an electrician. You don’t spend hours upon hours reading books, agonizing over wires or scouring the internet. You call in an expert because you know they have the knowhow to have your lights up and running quickly. This is the same for recruitment specialists- they have the skills to zero in on the best candidates for your company, and have frameworks in place to ensure that they do so in an organized and timely manner.
Whether you’re recruiting top management, employees or freelancers, we’ve compiled several signs that may be telling you you need to outsource your hiring process:
1. You are spending too much money on recruitment
Any solution that offers to cut costs without compromising on output is a welcome reprieve to any business owner. This is why many are bringing in experts to run their recruitment because in-house hiring comes with a steep price tag. Besides the cost of maintaining an internal talent sourcing team, there’s the additional cost of posting ads, background checks, resume screening technology and applicant tracking systems. But when recruitment is outsourced, these expenses are rolled into one comprehensive price.
Since recruiters offer a specialized service to multiple clients, and have learnt to streamline their processes through experience, they enjoy economies of scale which lowers their risks and in turn their costs. This is why they are able to offer such competitive price points.
Saving money on recruitment is so attractive to businesses, that in a 2012 study, over two-thirds of business owners cited this as a top reason why they outsource.
2. Hiring is becoming a long, tedious process
Conventional recruitments take a lot of time; it’s just how they’re set up. First you create an advertisement, post it on your communication channels, then comes the hoping and waiting that the right candidate will stumble on your post. If you’re an up-and-comer, you’d be lucky if several applications come in. If you’re well-established, it won’t be a walk in the park either, you’ll be flooded with applications that will take weeks, even months to sort through to find the right candidates. This may be bearable if you’re not in a rush, but in most cases, you don’t have the luxury of time.
Great recruiters, like Ureed Enterprise, can reduce your recruitment time down to several days or even hours, because they have pre-vetted talent on hand waiting for you to hire. So you don’t have to go through the same screening processes each time you need new employees. This is what makes it a truly on-demand service.
3. Your employee turnover is high
Research shows that over 80% of employee turnover is caused by faulty or wanting recruitment processes. What’s more, hiring new employees is expensive, costing up to 2 times an employee’s salary. But while turnover can be related to company culture or talent management, the fault is often in the recruitment process itself. The mark of a successful recruitment exercise is in hiring employees for the long haul. Even with freelancers, you want to bring on someone you can rehire if need be. So if you are having a hard time retaining employees, it may be time to bring in recruitment experts. This way, you hire candidates that fit the needs of your company and prevent loss of time, productivity and engagement from your employees due to constant turnover.
4. Your company is growing quickly
Congratulations! Your business is expanding rapidly; you’re moving into new markets, your clients are doubling. But you need new employees to match your growth. What will you do? The answer is simple- get an expert to run your recruitments for you. You can’t spare the time to start an in-house hiring process, as your current workforce is swamped and you need them to focus on your core business.
Outside recruitment experts come in with their dedicated personnel, they have the right tech and they’re suited to address your needs, especially in expedited situations. They also help to bridge the gap between your recruitment and on-boarding process, which may become problematic with multiple hires. Aside from finding you the right candidate, some go as far as making sure the employee is up to date with their expected role and the company systems. This helps to give each new hire a standard orientation and ensures that they become productive as soon as possible without disrupting the functionality of existing employees.
Companies that also experience seasonal spikes in growth should also consider getting the input of recruitment companies.
5. Some roles are hard to fill
Businesses are solving niche pain points these days, which means they need employees with specific skill sets to create solutions for their customers. Other times, factors like geographical location, market demand and experience make it hard to find the right candidate for a role. With an in-house team, filling such positions may take too much time and effort to do. But staffing experts have the right networks and resources to focus their energies into finding your “unicorn” employees.
Bringing it all together…
There are so many reasons why a company may need to outsource its recruitment process; to save money, to help beat out competition, to reduce employee turnover, etc. Whatever reason may be compelling you to look into a third party to manage your hiring process, it’s a significant move to make, and rest assured it will solve a myriad of other employee-related problems you may be facing. Despite popular opinion, outsourcing is not a relinquishment of power, it is a collaboration between you and experts seasoned in addressing your shortcomings, for the ultimate benefit of your business.
Ureed Enterprise has dedicated resources to help you find, contact and engage the best possible talent for your business, allowing you to focus on your core functions and ensuring that your hiring is optimized, fair and aligned with your business goals.