7 Reasons Why Companies Should Outsource Their Recruitment

Growth hack: get the best people in the industry, and the world’s your oyster.

Getting the right people at the right time is always the first step in growing your business. There’s a reason why many big companies invest in the best talents. However, there are positions and vacancies that require more than just the basic recruiting process and employers are finding it more difficult to find the right candidates to fill their open requirements.

On the other hand, many employees are mismatched to the wrong roles. This is not necessarily a reflection of HR’s shortcomings, moreso it’s an honest appraisal of how hard it is to get it right. When an HR manager or HR business partner is so busy with 20 other assignments on top of their general HR responsibilities, finer details often slip through the cracks. One cannot expect them to invest hundreds of hours in recruiting one role the way a search practice that you outsource can. 

Therefore, partnering with an industry-specific talent acquisition consultant is vital in ensuring your internal talent and business growth continues to flourish. Peter Ducker, a management consultant, said it best–do what you do best and outsource the rest. To outsource is the practice of procuring third party expertise in specific business operations. 

Working with a talent acquisition consultant will help your team to diligently assess a large number of qualified individuals specifically from within your vertical niche. Through the creation of an accurate market map, with detailed competitor analysis, you can ensure the perfect industry-specific appointment. 

Here are seven reasons why you should outsource your recruitment.

1. Total Market Access

A basic recruitment process involves defining the role, posting on a job board, arranging interviews, a brief background check, and a final interview. Although this could work on other roles, appointing experienced, vertical specific or senior level individuals will require you to go beyond that. Search practices have access to the underbelly of your industry and market. No stone is left unturned, so to speak. The right search practice will continue to hunt until they have satisfied their curiosity and are able to present amazing options to their clients.

Equally, posting a job advertisement will typically limit your options to only the individuals who are either out of work or needing to move, whereas the process of headhunting by nature will enable you to access the best candidates from within your niche. By attracting the client’s biggest competitors, they place their clients at a competitive advantage by onboarding the right individual whilst dislodging a competitor’s grasp or market share. 

 2. Competitor Analysis and Market Intelligence 

The basic rule of thumb in succeeding within your industry essentially comes down to  doing things better than your competitors. People are at the heart of your business regardless of the solution or product on offer. That’s why it is imperative that you have the upper hand in onboarding exceptional resources and the best way to do that is to partner closely with a Talent Acquisition expert who has a proven track record of attracting successful, highly in-demand individuals.

3. Trained on How to Truly Assess a Candidate’s Skills and Attributes in Interviews

Interviews are critical assessments of a candidate’s experience and exposure. A great interview should unearth what it would be like working with that candidate, and what they bring to the table. Resilient Management utilises a number of proven methodologies in our assessments such as but not limited to; Competency based assessments and Situational-based interviews. These assessments are designed to gauge the candidate’s skill set, how their experience equips them to take on the role, and  most importantly, whether they possess the aptitude and commitment to be successful.

4. Partnering with Industry-Specific Talent Acquisition Consultant is Cost-Efficient

In a volatile market, cutting expenses usually sits on the top of the priority list. However, your business will not survive let alone thrive without talented individuals working for you. There are many expenses associated with hiring long before the salary of the candidate comes into question such as; the cost of Internal resources and time, Advertising costs, Applicant Tracking Systems, GDPR Compliance, as well as a lot of effort. When businesses outsource their recruitment, the vast majority of these expenses are shouldered by the recruitment consultant. Therefore, while it may not seem so at the time, it is usually less expensive than attempting to run a successful recruitment program in-house.

A poorly managed recruiting process can be the reason for an increased turnover rate, impacting the company financially. Though a high turnover rate does not necessarily reflect the business’s overall efficiency, it may simply mean that applicants aren’t a good match for their roles. This mismatch can lead to expensive mistakes that could have been avoided.

Industry-specific talent acquisition consultants are well-versed in match-making the right candidates for a certain position and to the business’ ethos. They will aid in placing individuals who are ideally suited to the company and offer great value and ROI. These individuals will successfully remain in the position for a prolonged period of time.

5. Active Bench of Candidates

Ideally-suited candidates can come from various places. Having been in the industry for more than twenty years we have a rich portal of active candidates. These individuals also fit the requirements of various roles. This is of great benefit to our clients. These highly sought for candidates came from strong recommendations, and some of them have previously worked with us before.

Companies undergoing fast growth or seasonal surges experience recruitment challenges. Therefore, they often outsource recruiting to help manage the impact of fluctuating recruiting operations on their businesses. Strategic or planned replacements, as well as phases of significant growth or expansion, put a burden on established personnel. This makes any in-house recruitment difficult.

6. Gain Better Visibility

Posting on job boards ensures the visibility of virtually anyone who happens to be on it. But this does not necessarily include the qualified candidates from within your industry. Therefore, 90% of the available candidates who respond to your job listing won’t fit the niche-specific requirements of the role. At the very least, they won’t offer as much value or be able to hit the ground running.

Ideally, you will want to attract the attention of the right people in your vertical, not everyone who is currently looking for jobs. Resilient Management Solutions has access to tools that help us pursue the right candidate. We ensure that candidates are well-informed about what our clients have to offer in return. We act as a catalyst and partner bringing the right people to our clients door.

7. Accurate Matching and Appointment Ratios via Market Vertical Knowledge

Talent Acquisition Consultants like Resilient Management offer a dating application-like solution between the right candidates and the companies. The algorithm in our case is our embedded market vertical knowledge that informs a unique bond between candidates and clients. Through our own people and the use of best practices we create the ideal innovative environment that results in the perfect match.

At the end of the day, we share the same goal: to ensure that we make a lasting bond.

It’s not luck, it’s where you look…

As an outsourced recruitment team, we act as an extension of your team, proactively managing all aspects of successful appointments. Meanwhile, HR Business Partners, HR Managers, and Line Managers have numerous other responsibilities beyond recruitment. By partnering with a Talent Consultancy, they can outsource these tasks. This saves significant time and allows them to focus on their core duties more efficiently.

In any industry, you can’t get by with just luck on your side when attracting the right talent. Effective recruitment strategy and management isn’t just about filling a current vacancy. It’s about understanding the skills required for your organisational success and then developing strategically aligned plans that proactively add value.

Leverage Resilient Management’s twenty plus years of expertise in Asset / Automotive & Equipment Finance / Fintech recruitment solutions. It’s not about working harder, it’s about working differently with innovation at the center of what we do.