Do you have a burning desire to escape yourself from the extensive recruitment process?
As a business owner of a growing company, it’s hard to escape such wishful thinking.
Juggling between multiple shifts, running product launches, and taking care of cash inflow isn’t enough already to pick on additional recruitment activity.
One of the biggest challenges in investing all your time, money and effort in recruitment is finding a candidate who is an appropriate fit for your organisation.
Even though you spend endless nights scrutinising resumes, and scheduling multiple rounds of interviews, there is still no guarantee whether you have landed on the right talent.
That’s why the importance of recruitment outsourcing is growing in numbers, especially in today’s day and age.
The process of recruitment outsourcing can be stated as where you partner with talent organisations who take complete control of identifying, onboarding and building a talent acquisition model that helps you withstand and keep growing with your business.
Here is a quick breakdown of why recruitment process outsourcing is important for firms.
1. Time is money and hiring eats both
Let’s address the elephant in the room- Hiring is a time-consuming job and rarely can it be condensed into a 9 to 5 time frame. It helps you relieve the stress of attending to an excessive number of tasks like
- Writing job descriptions
- Posting the jobs across multiple job platforms
- Hundreds and thousands of resume screening
- Back-to-back multiple rounds of interview
- Handling salary negotiations
- Ensuring the cultural fit
All these tasks needed to be done with care as rushing the whole process can leave a firm prepared for a worst hire which in turn will increase the cost of rehiring.
How does outsourcing help?
Most of the recruitment agencies hold subsequent years of expertise in the field and are well-equipped to handle the process with precision. They take control of the hiring process, streamline them, and rightly pick top-notch talent for you.
2. Ability to find the right fit
The right talent is seated just around the corner which we may be blindfolded to.
As more specific job roles are coming into play, finding the right fit has also become more crucial.
At the same time, the chances of the right talent walking through that door are also very slim.
Especially, if it’s a highly specialised position like cybersecurity developer or C-level role, you require an expert-level scrutinization process that can easily pull it off given their deepened knowledge and skill level.
How does outsourcing help?
- Have access to insider information and can connect you with some of the hidden gems.
- They take the pain of going out of their way to make the right talent fit that job role.
- Many recruitment agencies have a wider network so that your need for top-tier talent is not easily turned down.
3. Lower turnover rates
Have you felt like ‘putting the right key into the wrong place’ in at least one of your hiring decisions?
The danger of a two-faced employee is an obvious challenge whose interview performance took off but gave you a hard time while handling the job.
It leads to the situation where the employee must leave the organisation in the middle, piling up the new employee acquisition cost. Hence, connecting with the recruitment outsourcing partner might potentially help you prevent such occurrences from happening.
They can identify such red flags at a much earlier stage.
How does outsourcing help?
- Subtly conduct a behavioural assessment rather than just flipping the resumes.
- Parallelly vetting the candidates by running thorough background checks.
- Look for alignment with your current business situation or company culture.
So, your recruitment is now fail-proof without encountering major haphazard.
4. Ease of scalability
When growth hits, the demand for anything and everything will be on.
Imagine a scene where your business is suddenly picking up with soaring customer demands and the result of it is expecting more helpful hands to push it through such a growth phase.
At the same time, the practical difficulty of hiring is that it cannot happen overnight. Especially when you are doing it in-house, you are facing the risk of a lengthy recruitment process followed by the potential pitfall of over hiring too.
However, with the help of outsourcing, you have got an instant solution to it.
How does outsourcing help?
- Scaling up and down gets easy- If you immediately require 10 new employees in the coming month or even drop down the workforce count when the business slows down, recruitment outsourcing has your back.
- Adjusting to a flexible workforce- Through outsourcing, you get according to the current stage of the business lifecycle. Be it a full-time employee or project-need hiring, you get to access yourself with a flexible workforce.
- Relief from hiring stress- You no longer need to bear the headache of last-minute preparation of job descriptions or urgent project hires as outsourcing takes complete control over it.
- In a nutshell, outsourcing favours you in either outgrowing or shrinking your workforce according to your business needs.
5. Savings enhanced
Indirect costs accrue in no time.
Are you still pondering over whether in-house hiring is cheaper in comparison to outsourcing? Think deeper
The costs of a bad hire come in multifold – salary, training & development, reputational damage, productivity and more. Moreover, when you begin to consider the other factors like job listing fees on different platforms, followed by the time & energy spent on reviewing resumes, and the extra salary spent on the in-house recruiter, it all evens out.
How does outsourcing help?
Through outsourcing, you tend to cut down on most of the costs while you also get access to the right talent faster.
- No extra expenditure on job listing- As most of the agencies have an existing talent pipeline, there is no excessive money spent on sourcing.
- Do it once and do it right- Through the outsourcing provider, there is hardly any chance of costly hiring mistakes.
- Pay for what you need- As there are no full-time recruiter fees, there will also be no unnecessary overhead costs.
- No training costs involved- A faster onboarding is ensured as most of the candidates are properly pre-vetted through the outsourcing provider.
Outsourcing can no longer be viewed from the lens of convenience, but it is also about a power move financially.
Wrap Up
The realisation of a good decision stems only after stepping onto a bad one.
Likewise, hiring decisions are very crucial to make. If your in-house hiring is taking the route of stress and time-consuming, it is better to shift it to an outsourcing recruitment partner. It helps you save time & costs, reduce turnover rates and enhance scalability options. More so, it allows you to escape from the unnecessary work burden by taking end-to-end accountability over the whole process.
So, what’s your move for the next phase of organisational growth? Do you want to still hustle and hunt down the right talent or hand it over to the expertise? Drop your comments below.
