by Laura Pokrzywa
More than one third of employers who responded to a recent CareerBuilder survey report plans to increase their full-time staff in 2015. According to David Payne, Staff Economist at Kiplinger, better job prospects in 2015 will bring more people back into the labor pool looking for work.
If yours is one of the many companies planning to hire some of these job seekers in the near future, you will not only need to allow for an increase in your payroll, but you will also need to budget for the hiring process itself. While you are tallying up the cost of running the ads, don’t forget to include the man hours needed to review resumes, screen applicants, schedule interviews and communicate with candidates and references.
Be ready to pay more if you aren’t able to find your best candidate right away. If you do not have a dedicated recruiter on staff, someone else in the company is setting aside their regular job duties to tackle your recruiting needs. Doling out recruiting responsibilities to a hiring manager who is already busy is a sure-fire way to lengthen your hiring process which increases your overall costs and puts staff morale in jeopardy. Not only is the hiring manager “taking a stab” at something that is not his/her niche, but they are forced to take time away from their real skill set. If it is your senior management staff that is given the recruiting tasks, your “per hour” costs may add insult to injury.
If you don’t have a recruiter on staff, consider the advantages of bringing in a professional recruiting firm to help you find your next employee. Not only do recruiters have the resources and know-how to source the best candidates more efficiently, but they will free up the employees you already have do the job that you need them to do.
A good recruiter understands the market and knows what compensation and benefits are competitive for your industry. They should know how to craft your job ad to put your best foot forward and attract the most qualified candidates up front, reducing the time needed to fill the position. Additionally, they have the freedom and the resources to contact potential “passive” candidates who are already employed and may not be searching job boards.
The right outside recruiter also has an advantage once a relationship has been established with your candidate. Because the recruiter is not a member of your staff, the candidate is more likely to discuss any concerns they may have about the company or the position. That gives you a chance to clarify a misunderstanding or sweeten a package.
When it comes to the hiring process, we have already seen that ‘time is money’. But it will cost the company even more if the position is filled with the wrong person. This is another risk a professional recruiter may help reduce. Because recruiters spend their days looking at resumes and talking with job seekers, they know how to spot red flags and they know which questions to ask up front.
If you decide to pursue an outside recruiter for help, be sure to investigate their hiring practices and pricing options. Many will offer a contingency agreement, not charging a fee until your new hire reports for duty. Additionally, they may offer a “rebate” or “replacement” if their new hire leaves your company within a specific time from their start date.
If you have questions about the hiring process or if you would like to investigate ECRM’s recruiting services, please contact us by emailing email@example.com or by calling 877-864-3311.
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