Recruitment services are a a great solution to boosting your company’s potential. Business enthusiasts are fully aware that manpower plays a tremendous role in mobilizing any business enterprise toward the attainment of its goals. Human resource is the heart and soul of a company. Conquering the business arena requires an effective strategy in recruiting the brightest talents out there. Successful businessmen recognize the importance of acquiring competent employees, but achieving this feat involves substantial operational cost.
Apart from the cost, another consideration to be taken into account is adapting efficient recruitment methods that facilitate thorough screening of candidates to hire the most suitable people for job vacancies. Fortunately, there are several companies offering employment services nowadays. These external recruiters perform human resource related functions for a price. With the hundreds of recruiters to choose from, it is helpful to know the recruitment scheme suited to the company’s job requirements.
Recruitment services agencies are categorized into two main classes: contingency recruiters and retained executive search recruiters. They differ in the fees they charge, the level of service they provide, their sourcing and recruiting approach, and their specialization. It is important to weigh the advantage and disadvantage of employing one over the other. Arriving at the best decision necessitates a careful study that encompasses all the vital factors.
Contingency recruiters only charge fees for successful endorsements. The fees usually range from 10%-35% of the hired employees’ first year salary. Since contingency recruiters have no guarantee that they will get paid for their efforts, they work on multiple openings for different organizations. It is most probable that a candidate’s resume is submitted to many companies; thus increasing his/her chances of employment, which translates to possible revenues for the recruitment agency.
On the other hand, retained executive search recruiters receive their professional fee beforehand, regardless as to whether or not the candidates they recommend get hired. With this kind of deal, retained executive search recruiters often focus on one project at a time. They can expend all their time and effort to working on particular vacancies for their client. Though they often lack specialization in certain fields and industries, they can work closely on the job openings, enabling them to profoundly explore their task on hand.
Over the years, the business world has evolved greatly as technology has risen to dominate almost all industries, creating the need for businessmen to adapt competitive measures to survive the grueling competition. Companies, especially huge corporations, relentlessly find ways to maximize their income without compromising their reputation. Hiring a recruitment services company is an attractive way for cost reduction. Recently, outsourcing and off shoring have become a worldwide trend as the benefits from these services grow popular across diverse business sectors.