In the modern competitive job market, it is important to find and hire the right talent. However, with the economy doing so well, candidates are picky and finding good talent can be a challenge. It is the reason many companies prefer to use recruitment agencies to find the right talent. A good recruitment agency such as TRAK Employment Solutions Ltd can help you save time. They can also eliminate costs that come with having an in-house hiring team. A major reason why many companies use agencies is guaranteed security. They promise that an employee will stay for about 6 months. If they leave, the agency will replace them at no extra cost or offer a refund.
The Cost of a Recruitment Agency
On average, an in-house hire for any position is usually about $4,000. However, keep in mind that there are no guarantees. The employee could walk out after a week. With a recruitment agency, the cost per employee comes at about $1,000 but it can be as high as $4,000 for executive positions. This is usually calculated as a percentage of the first year’s salary the employee will make. With the added guarantee of security for employees leaving, using an agency seems like the right choice.
How to Pick the Right Recruitment Agency
1. Define Your Needs
The first step in picking a hiring agency is to decide what you need from them. For instance, are you hiring one or many employees at once? Do you need temporary or permanent employees? Will the hires need to have niche skills or are general skills enough? By defining your exact needs, it will help to make it easier to find an agency that can fulfill them with ease.
2. Pick the Right Recruitment Agency Type
You will also need to pick a recruitment agency of the right type. It will allow you to narrow down the possible agencies that you will consider. If you defined your needs, picking the right type of agency will be easy. If you require temporary staff, a staffing recruitment agency is the best choice. If you are looking for executives, opt for an executive recruitment agency. For all other hires, a general agency will do the job effectively. However, look for general recruitment agencies that work in your sector; whether it is the oil industry or the banking industry.
3. Check the Cost
Finding the perfect recruitment firm will mean little if their costs are out of your reach. It is the reason why you must check their costs first. Most agencies will have the general details listed on their site. To get more precise details, they will provide an email via which you can reach them. Prepare a list of agencies from your preliminary search and send them messages requesting quotations.
4. Check their Expertise
After going through the previous steps, you will find this easy to do. You will probably have narrowed things down to two or three agencies. Pay attention to the terms and guaranteed periods. Besides that, look at their client base. If they are a quality agency, they will be working with some of the notable firms in your field. Go online and read about testimonials from employees and employers who have worked with them. In the era of the internet, it is hard for any agency to hide their true status. Go to social media and search for them, in just a few seconds, you will be able to understand their reputation. From that, you can tell if they are a professional firm with which you should work with or you should avoid them.
