Hiring is a challenging task, and it’s growing more difficult for many firms.
According to U.S. Labor statistics, as of December 2020, the global talent shortage amounted to 40 million skilled workers worldwide. If this trend continues, by 2030, companies worldwide risk losing $8.4 trillion in revenue because of the lack of skilled talent. Fortunately, recruiting agencies have the ability to step in and make the entire hiring process significantly easier for businesses of all sizes. To proceed, lets answer the below questions
- What is recruitment?
- Types of Recruiting Companies
- What is the work of a recruitment agency?
- Why do I need the service of a recruitment agency?
What is recruitment?
Recruitment refers to the process of identifying, attracting, interviewing, selecting, hiring, and onboarding employees. In other words, it involves everything from the identification of a staffing need to filling it.
Types of Recruiting Companies
There are different types of recruitment agencies or firms based on the specific type of recruiting services they provide. Below we have listed and described the different types of recruitment agencies.
Recruiters that work for an agency or on a contract basis are the most adaptable. Temp agencies, staffing agency, and recruiting agencies are all terms used to describe them. Their job is to fill positions for a big number of clients in a variety of industries as rapidly as possible.
Consider them a step up from a classified ad. They aren’t terrific at hiring, but they can fill short-term or seasonal positions faster than you can on your own. Many times, they’ll have a pool of people who have already been interviewed and vetted, and they’ll be able to send someone to fill your position the next day.
Contingency recruiters are the next. These recruiters can assist you in locating more highly qualified individuals, but they only get paid if you hire them.
This implies they have an incentive to work quickly because there’s nothing stopping you from employing someone from a job board or using multiple recruiters.
While they can take a lot of the legwork out of the hiring process, from organizing interviews to negotiating with candidates, they are less beneficial for building a talent acquisition strategy because they aren’t likely to spend much time on the big picture.
Recruitment firms are best suited for talent acquisition and hiring for highly-skilled roles. They’re referred to as retained recruiters because they’re paid a retainer, which may be a flat fee or a percentage of the new hire’s salary.
Because they’re paid regardless of how quickly they place a candidate, they can spend more time getting to understand your business and finding the right fit for a position.
Recruiting firms have a database of candidates they can draw from, as well as experts in your industry to screen them and vet them.
They may use a variety of strategies to find candidates, including seeking out passive candidates who are already employed but open to receive new offers.
What is the work of a recruitment agency?
Even though the services may vary slightly from one agency to the other, most recruiting companies use a similar process. Following is a list of services involved in the recruitment process. In other words, the work that recruitment agencies do
- Identify the hiring need
- Devise a recruitment plan
- Write a job description
- Advertise the position
- Recruit the position
- Review applications
- Phone Interview/Initial Screening
- Applicant Assessment
- Background Check
- Reference Check
- Job offer
Why do I need the service of a recruitment agency?
Maybe, you intend or have decided to request the service of a recruitment agency in Ghana, continue to read below our 5 reasons why you need the service of a recruitment agency.
1. Recruitment Agencies Have Extended Reach For The Best Talent
A recruiting firm will have access to the greatest talent available, including individuals who are actively looking for work as well as candidates who are already working.
Applicants who are actively seeking for a new work position are more likely to register with a recruiting agency owing to their efficiency; candidates who are actively looking for a new job position are more likely to register with a recruitment agency due to their efficiency. Most agencies will post job vacancy ads on a variety of job boards, knowing the logistics and marketing worth of each one – vital knowledge gained only from working in the recruiting industry.
Finding the appropriate people can be challenging at times, simply because they are scarce. If candidates do not declare themselves to be “actively seeking employment,” they are more likely to have a trusted, professional recruiter submit job applications on their behalf — giving them access to a “talent pool” that would otherwise be unavailable.
Each consultant at a recruitment agency has the opportunity to use their networks to assist link you with the right people.
2. Recruting Comoanies Saves You Time
If “time is money” means anything to you then save time and make more money.
Because recruiting agencies handle the first steps in the hiring process, recruitment firms save your company time. No more trawling through applications and CVs; a recruiting agency will make sure that the time you spend on the application process is spent wisely on seeing those candidates who are worth considering.
But it doesn’t stop there; a recruitment agency will schedule interviews and provide all necessary information to candidates – all you have to do is prepare and show up!
Recruitment agencies deal with all of the administration issues such as: communications with successful candidates and unsuccessful applications, as well as verifying candidate information like qualifications and references.
If a business chooses to use a recruitment agency then they will reduce the time and in-house resources needed for recruitment dedication; this can lead to a quicker turnaround in filling vacancies and an increase in the efficiency of the organization.
3. Market Knowledge
Your candidate needs may be specific and difficult to locate in many cases; this is where a recruiter’s sector skills and market knowledge come in handy. If you’re employing a manager, for example, you might need an expert opinion and understanding of current recruitment legislation – the agency should be aware of all necessary needs and legalities.
Once you’ve established a trusting relationship with a recruiting agency, future hiring will be a lot easier because the agency will be aware of the attributes that are required to make the appropriate fit for your company. The best recruitment agencies will act as partners and collaborators, and will be your eyes and ears in the market.
Recruiters are industry specialists in their markets, and can give the hiring team regular insight in to what is happening. These recruiters will know: how to reach out to the best available talent, salary rates, career expectations, current hiring complexities, available skill-sets and shortages. For example, if there is a struggle to find the same quality of candidates in other relevant businesses, then expert recruiters will be able to advise on alternative solutions.
4. Short-term And Long-term Cost Savings
Recruitment agencies will have allocations on all of the major job boards, allowing you to ensure that your company’s job ad is placed in the most appropriate spot – posting single one-off positions with advertising agencies can be costly.
The cost of sifting through CVs and having initial conversations adds up; however, if a company uses a recruitment agency, not only is that cost reduced, but the recruiter can also assist in negotiating the best salary (by providing both guidance and advice on what is fair pay), resulting in a higher chance of hiring the best candidate.
Short term costs saved:
- Posting job adverts – cost removed
- In-house staff can perform their other duties
- Reduces potential overtime costs (temporary hire/overtime periods)
- Reduces the likelihood and cost of hiring a candidate unfit for the role
Long term costs saved:
- Reduces training costs (some recruitment agencies offer candidates the chance to learn field-specific regulations whilst searching for a job)
- Future hiring costs are reduced due to trustworthy relationship with recruitment agent