Finding the right talent for a critical open position can be challenging. Increased competition for talent, the challenge of locating candidates with hard-to-find skills, and limited resources make recruitment even more challenging. The time, effort, and expense involved in the recruitment process quickly add up. These costs increase when your new hire doesn’t work out, and you have to repeat the hiring process. Fortunately, you can take advantage of an external professional recruiting firm to reduce the time and money needed to fill your open positions.
Discover how partnering with an external recruiter can significantly increase your return on investment.
Source Candidates with Specialized Skills
Working with an external recruiting partner lets you source talent with hard-to-find skills. Because of the recruiter’s knowledge, insight, and expertise in their specialization field, they can serve as a trusted advisor. Because the recruiter often has a pipeline of candidates with specialized skills, the recruiter can quickly identify qualified candidates and share their career expectations and hot buttons. The recruiter also can work with you to develop a competitive compensation and benefits package to offer the candidate you choose. Additionally, the recruiter verifies each candidate’s references and credentials and then presents the most interested candidates in the position. Since most of the work is done before you meet with the candidates, you spend less time on the recruiting process, increasing your ROI.
Reach Passive Candidates
Partnering with an external recruiter provides access to passive candidates. Because these candidates enjoy their work, they typically stay with their employer long-term. Since the recruiter cultivates relationships with passive candidates, they can send you high-quality talent that may not have surfaced by other recruiting methods. When a passive candidate decides to join your team, they typically stay with the company for a significant amount of time. The longer the new hire stays with your organization, the greater your ROI.
Put the Right Talent in a Role
Partnering with an external recruiter lets you avoid the cost of a bad hire. Because the recruitment process involves advertisements, interviews, background checks, and more, it can add up to a significant amount of money. Having to redo all of these steps because a new hire leaves soon after they start increases your recruitment costs. When you work with an external recruiter, they provide a replacement guarantee if the new hire does not work out over a set period. Getting the right talent in a role increases your ROI.
Reduce Taxable Income
Working with an external recruiter reduces the amount of taxable income for your company. Because recruiting agency fees are a business expense, they can be used as a tax deduction because the fees can be used to offset a portion of your recruitment costs, your ROI increases.
Maximize Your ROI with Corps Team
Maximize the ROI of your new hires with help from Corps Team. Learn more today.