One of the most important tasks that every company worries about is bringing efficient and qualified employees on board. Hiring employees has now become quite a task for businesses, be it small or big. It is sort of shocking to know that in a new study in 2020, it was reported that almost 54% of businesses pointed out a shortage of unqualified individuals. It has further been estimated that unfilled jobs in companies would reach a mark as high as 30 million by the end of 2030. One of the biggest blessings in situations like this is the existence of recruiting agencies. It is when these recruiting companies join in that the process of hiring candidates not only becomes easier but also much more effective. Hiring a recruiting agency is not restricted to only big businesses, but any size of business can hire a recruiting agency.
Before we go further and discuss all recruiting agencies and what they do for the business, it is important to understand what actually is the recruiting agency. As a most commonly known practice, the job of hiring new employees is of the employer. Not only will the employer spend several working hours finding a suitable candidate but also substantial funds in doing so.
The recruitment agencies step in and form a path between the employer and the employee.
When an external firm steps in and finds a suitable candidate for a vacant spot in a company, this form is defined as a recruitment agency. A Recruitment agency will not only save money and time for the employer, but it will also have several other benefits like accessing and managing all eligible candidates that will be finally hired for the job in the organization. Getting recruitment agencies on board will ensure that the most efficient and valuable candidate is hired for the position, eventually ensuring the organization has the edge over its competitors.
What are the other major advantages of having a recruitment agency for hiring employees? Is the guarantee that comes along? The agency ensures that the hired employee stays with the firm. If they leave the job or get terminated, a suitable replacement is found at the earliest possible time.
Types of recruiters:
- In-house recruiters: when a set of recruiters work with only a single company and help them hire employees, these are termed, in-house recruiters. Like any recruiter, the in-house recruiter also goes through all the applicants that may be available to find a suitable job, but they would not be able to share their CV’s with any other company in case they are found unsuitable for a particular position at a given moment.
- Recruiting agencies: these agencies will not only ensure that the companies find the best candidate for the vacant position but also about candidates that may be suitable in one form or another.
Recruiting can be most easily explained with an example. Let’s assume that you are a company that needs a digital media manager at the earliest. Now your best bet would be to involve the recruiting agency. The recruitment companies will work out the most efficient plan to find these candidates. These candidates are outsourced from various different sources just so that you get the best available. That being said, these agencies ensure that you get the best talent, much faster hiring, and most important, professionals, on how their job needs to be done.
How does the recruitment agency work?
Even though every recruitment agency may have a different way of working, there are certain fixed or similar steps that each of them performs, which are as under:
- Agreement: the first and foremost step when you decide to get a recruitment agency on board is to have a form of agreement. Most importantly, this agreement will include the payment details that are generally a retainer fee. Along with this, certain terms will be set regarding what is expected of both parties. Most recruitment companies will guarantee the best fit, meaning if the hired candidate cannot perform in a set fourth period, the recruitment firm will get back and find another suitable match for the position.
- Profiling: the next step involves a meeting between the recruitment agency and employer. A company may either have one position to fill or may have a requirement for several vacant positions. This meeting is extremely critical since this is where the agency would clearly understand the company’s requirement for these positions and thereby search for a suitable match. Most typically, a clear job description, important skills achieved, and any other form of a requirement that may be required by the company must be clearly given to the agency for a most effective recruitment consultancy.
- Sourcing: the Next step involves searching for the most suitable candidates, which most likely is done either by scrolling through their own database or going down their network. The agencies have their unique circles and networks, which are further searched for suitable candidates. On an average and efficient recruiter would hardly take anywhere around 6 to 8 seconds to scan through a resume which makes the process much faster. Once a list of eligible candidates is made, the next step would involve fixing interviews with these candidates.
- Interview: the interview mostly takes place in two steps there in the first interview was conducted by the agency, where they gauge even more knowledge about the candidate and their capabilities to check if they match the requirement of the parent company or not. The candidates that are selected in this stage form a separate pool of candidates, which are then presented to the company for round two of the interview.
- Offer and negotiations: after the company has liked the candidate, it’s time to extend the offer. Now, this can be done by having the recruitment agency on board which would take up any form of negotiations with the candidate and is a one-point contact for any further conversations.
- On boarding: once the candidate accepts the offer, the recruitment agency will ensure it assists the company with onboarding the newly hired employees.
The job of a recruitment agency does not usually end at this stage. Apart from taking care of all the paperwork that may be required for onboarding the employee, the agency will make sure that you are newly hired employee is fully satisfied and comfortable in the newly joined organization.