In the ever-evolving job market, finding the right talent can be a daunting task. With the rise of digital platforms and job portals, many employers have turned to these online channels for recruitment. However, the traditional method of utilizing recruitment agencies remains a valuable option that offers unique advantages. As industries navigate the challenges of a post-pandemic landscape, recruitment agencies have proven their ability to adapt and provide tailored solutions. From curating high-quality candidate pools to offering industry-specific insights, these firms continue to play a crucial role in the hiring process.
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Introduction
By the 2nd quarter of 2020, the International Labour Organization saw a reduction in global working hours by nearly 7 percent — equivalent to 195 million full-time jobs. The Covid-19 pandemic has adversely impacted every industry – giving rise to a new way of life.
As the situation normalizes, many industries have been adapting and transiting into new modus operandi. Emerging sectors like cloud computing, tech, and e-commerce services thrived and are expanding rapidly. Established sectors from F&B & retail require more workers to adapt to the ever-changing measures.
The job recruitment landscape is no exception to change either. Prominent job search and networking platforms (e.g. LinkedIn, Glints, Indeed) have since taken center stage for job search and recruitment. Though, it’s not without its challenges.
What Are the Challenges of Job Recruitment?
- Dilution of Quality
With the ease of online applications and more unemployed from the recession, you’re likely to receive more applicants for each listing. However, this means more unqualified or ingenuine applicants; resulting in a diluted talent pool. - Highly Time-consuming & Unproductive
Imagine devoting time to sift through a large number of applications. Then, arranging and interviewing the shortlisted candidates on top of all your current responsibilities. Only to discover that all your efforts may be wasted. - Tough Competition On Job Listing Platforms
Chances are other companies are competing for the same pool of applicants for a similar job scope. Unless you’re willing to set aside an additional budget for ads, your job listing’s likely to be buried under other similar listings.
With more employers utilizing these digital platforms to look for prospective employees, are recruitment agencies irrelevant then? Not quite. Recruitment agencies still have their place. Here are 5 reasons why recruitment agencies work for businesses in 2023.
5 Reasons Why You Should Use Recruitment Agencies
1. Recruitment Agencies Can Adapt To The Hiring Climate
Hiring competent employees is more critical than ever, especially with the unstable economic outlook. While many firms have minimized operations and manpower because of tightened pockets, the post-Covid crisis also presents new demands. This calls for a sudden need for specialists – particularly in digital transformation, logistics, manufacturing, and supply chain.
How’s best for businesses to find these specialized groups then?
Not only do recruitment agencies possess industry-specific knowledge, but they also house databases that carry large networks of qualified candidates. Based on their experience, agencies can easily shortlist the best pool of candidates to equip whole departments all at once.
Whereas, with LinkedIn or job portals, you can expect limited variety in your applicants. It can be a rather inefficient process, where you spend copious amounts of time doing the legwork with no guarantee of securing a suitable candidate. Let alone an entire team.
2. Recruitment Agencies Curate High-Quality Job Applicants
Job ads are often to the employer’s disadvantage. Simply because that’s how your best candidates slip away. Let us elaborate. Whenever you post a recruitment ad, you wait for candidates to come to you. This means passively relying on the platform and trusting the quality of their talent pool.
Moreover, you’ve no control over who these people are, their qualifications, or the skills they possess when they apply. This could result in money and time wasted if there isn’t a potential hire among the applicants.
On the other hand, profiling candidates is the recruitment firms’ expertise. Long before you approach them, recruiters are actively searching and profiling people who meet your job requirements and are a likely fit for your company’s culture.
Trust Recruit offers a customized recruitment plan to ensure only quality candidates are shortlisted for the interview process. Learn more here to find out about our process.
Also Read: Recruitment VS Talent Acquisition: How To Tell The Difference?
3. Recruitment Agencies Can Find Suitable Candidates For Temporary / Contract Jobs
With the economic downturn, many businesses are cutting costs by sending employees on no-pay leave or retrenching them. Despite the massive hiring need, most companies are more conservative in their recruitment efforts. Hence, they look for candidates to fill contract/short-term positions as a stopgap measure.
However, it’s not easy to find the right temp-hire with the relevant skills either. Most qualified candidates would prefer a full-time position to a temporary one.
Recruitment agencies possess the resources and experience to understand targeted job market segments while providing valuable insights (personality attributes, skills, and qualifications) and advise you in choosing the best candidate for the job.
They can broker short-term hiring arrangements with past employees/new candidates. Not only will this keep the company going, but employers can also take these stints to determine if the temp staff is a good fit for them in the long run.
4. Recruitment Agencies Have Data & Insights
Nearly 75% of all hires are bad hires. While the average cost of one bad hire is $15,000, the average cost of losing a good hire is twice as much – $30,000. Traditional recruitment can waste the company’s time and resources with countless unqualified candidates.
Today, recruitment agencies optimized their hiring process through data-driven recruiting. By accumulating data across various industries, recruitment agencies do away with the outdated trial-and-error method and streamline from the large talent pool to cherry-pick the right candidates for you.
While networking platforms offer an accessible pool of talents, they don’t possess the insider knowledge on the relevant human resource trends that maximize your efficiency in talent scouting.
At Trust Recruit, we aim to deliver the most efficient and effective recruitment and HR solutions that are tailored to your industry. We prioritise building insightful and practical relationships with our clients. Connect with us today for a personalized consultation.
Also Read: 7 Steps To Develop An Ideal Candidate Profile
5. Recruitment Agencies Offer Added Credibility To Less Established Organizations
Every employer wants to hire the best talent for the job. Compared to established multinational corporations (MNCs) who have built their reputation over the years, how should smaller companies compete then?
If you’re a small firm with little portfolio, advertising on job portals may be ill-advised. First impressions matter. If the candidate can’t find much information about your company, they may be deterred from applying.
By engaging recruitment agencies, consultants can extract more information from employers to share with potential candidates pre-sourcing. Their experience and endorsement would form a positive impression in the mind of the candidates. With the enhanced credibility, it’s easier and faster to fill a position with a high-quality candidate.
Conclusion
Yes. Recruitment agencies will cost more than the advertising/platform fee for your job ads. Rest assured that the numerous benefits far outweigh the costs. It’s no surprise that they’ve become the reliable choice for many industries’ recruitment needs in today’s economic climate.
Do you have any HR or recruitment-related queries? Connect with us today. Our consultants will get back to you at the earliest convenience possible.