Let’s say you have a Sales Director position to fill. You have a preferred suppliers list of 5 contingency recruitment agencies, where you have agreed terms at 20%. Of those 5 agencies you are using, you are giving them a 20% chance of filling this vacancy (which could actually be lower if you are also conducting your own internal efforts)
There are Top Performers in the active market, don’t get me wrong, but generally speaking, most of the Top Performers are part of the passive market and in the main, untapped by contingency recruiters. This is because their focus is on maximising their chances on making the placement, which means presenting the most relevant candidates in the shortest timescales, which are typically active in the market and easily accessible. This can lead to ineffective-screening at the front-end of the process, due to time constraints, and can lead to a lack of retention and a host of other factors leading to mis-hires. This costs in time, effort and has a negative impact on your business and potentially your brand.
For a Similar Fee
What if for a similar fee, you use one firm, make them accountable for delivery, allowing them to do a deep-dive on your business, utilise a whole-market explore giving you access to all the passive candidates, they are screened extensively to ensure they are a ‘good fit’ for your organisation and thus ensuring good retention and longevity of tenure.
The recruiting firms chances of success have increased from 20% to 99%. They now have the time and ‘accountability’ to deliver focusing on quality & a higher level service, rather than working 5 jobs or so to close 1 against a competitive backdrop. (simplistic but assuming all the agencies get 1 each of course)
The Benefits to you
The benefits to you, the recruiting clients from a higher level retained service:
- Greater access to a whole market candidate pool for the skills you require. 13% of candidates are on the market at any one time, you can get access to the 87% perceived as passive & unobtainable.
- Higher retention rates from a higher level of service eliminating mis-hires
- Engagement with a recruitment partner who knows your business inside-out.
- If it’s a challenging position to fill, then your role won’t be down the bottom of the list of a recruiters priorities.
- Influencing a positive image for your brand in the candidate market as an employer destination, with a positive candidate recruitment journey. (Key for both successful & unsuccessful candidates in the process)