Which Service is Right for You?
This brief quiz will help determine whether Retained Search or Interim Talent is the right strategy for your next search.
There are a handful of recruiting myths being passed around that have deterred companies from outsourcing their staffing projects. Unfortunately, these myths have caused businesses to pass up on services that could have resulted in a better hire. Don’t compromise your company; be sure to know the truth from the myth.
Myth #1: Our staff can post an opening on a job board and find the same people a recruiter would.
Job boards only reach candidates actively looking to make a change in their career. Without a recruiter, top candidates who are not actively seeking jobs would never learn about your open position. Recruiters have an extensive network of both active and non-active job seekers, which they develop over years of working in your industry. They have the additional skill of persuading top talent to consider your opening, even if currently employed. Lastly, recruiters also take the time to understand your company’s culture so that they can better choose a candidate that will fit your needs – something a job post can’t do.
Myth #2: Recruiting firms are only good for low-level jobs.
Retained search firms are called “executive search” firms for a reason. Background industry knowledge, strategic research techniques, and a broad base of experience enable recruiters to find high-level talent in the most effective way. While these firms can easily handle a low-level job, their services and skills are meant for “needle-in-the-haystack” searches when your company needs a narrow skillset or a specific type of leader. Retained search firms are a smart investment for high-level, high-risk positions that your company cannot afford to hastily rush or delay. Recruiters give you the best candidates, not just the best available, in a timely fashion.
Myth #3: Paying a retained search firm is no better than a cheaper contingency-based firm.
Contingency-based firms are only paid if they fill the role. Therefore, they can back out of the search at any time. In addition, they typically deal with low-level positions and present their client a high volume of mediocre job candidates. On the other hand, a retained search firm works until the search process is completed, no matter how long it takes. They present a handful of highly qualified candidates to your company and make an effort to match each individual to your company culture. Retained search firms invest more time and energy into your job placement for the best possible outcome. See more at: Retained Vs. Contingency: What You Need to Know
Myth #4: Recruiting fees are superfluous when a company has it’s own HR staff to utilize.
In-house recruiting or human resource staff has their own workload that would have to be set aside to fill critical positions. Not to mention the time it takes out of a manager’s schedule to approve and interview candidates. Furthermore, consider the consequences of hiring a poor candidate. The cost of employee turnover is estimated to be at least four times the employee’s annual salary. In addition to time, external recruiters have valuable industry knowledge, an extensive network of clients and candidates, and more resources at their fingertips. It is their sole job and priority to fill your role quickly and successfully. An internal recruiter simply cannot perform the same job efficiently.
Considering retained search for your next hire? Contact Ashton Tweed Partner, Jordan Warshafsky, today.
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