When to hire a recruiting firm?
People are your greatest asset. They’re your brand ambassadors and the lifeline to help build your business. According to a recent study by Paycor, labor costs can account for up to 70% of total business costs, which means they’re also your biggest investment, both in terms of finances and time.
It’s true that headhunters, recruiters and staffing agencies can come at a premium cost difficult to digest for a small or medium size business. That cost is the reason many businesses shy away from seeking help outside of the organization. But remember what I said in the first paragraph, that people are your biggest investment? That’s the main reason why you should consider spending the extra money. Wondering when is the right time to make that decision? Let’s dive in to why and when the cost to work with a headhunter or professional recruiting firm makes sense.
Why you should partner with a headhunter or recruiting firm.
A headhunter’s job is to be your partner through the entire process and to have your best interest in mind. They share your goal to fill the position quickly, and with the most qualified candidate. A headhunter doesn’t want to re-fill the position down the road and most (good) headhunters pride themselves on never having to do so.
Headhunters can source passive candidates in addition to active job seekers. This is an important one! It’s common for companies to post a job, then wait for candidate resumes to trickle in. However, a good headhunter will understand your business, your company culture and the nonverbal idiosyncrasies that make your organization tick. Powered with that information, the headhunter can proactively work through their internal candidate database and call on prospects employed at other companies who may not be actively looking, but who may be a great fit for your company. Their proactive vs. reactive approach can make all the difference.
Headhunters know how to sell the position to potential candidates. While you know all of the best reasons to work for your firm, it can be difficult to clearly communicate all the things that make your company great to a potential candidate. In this economy, every selling point matters! A headhunter knows how to work with a candidate to sell them on your company.
A headhunter is trained to assess candidates. I vividly remember one particular search I was conducting. The client loved a specific candidate who interviewed very well and seemed to check all the boxes, but something in my gut said I needed to dig deeper. After doing more research and asking more questions, I found the missing links that indicated this candidate wasn’t the right fit. Had I allowed the client to move forward, I believe we’d have needed to replace this person shortly thereafter.
When should you make the decision to outsource the recruitment process?
Just like an engineer has studied how to build bridges, an accountant knows how to assess financial documents, or a doctor knows how to provide healthcare, a headhunter knows the fastest, best way to find your ideal candidates.
If you are questioning whether or not to partner with a headhunter, ask yourself:
- Could my time be better spent building my business?
- Is my time limited right now?
- Does my office manager or HR person already have a full plate?
- Has anyone in my office been formally trained on recruiting a great team member?
- Have I already tried to perform the search without finding the ideal candidate?
If you answered yes to any of those questions, finding a trusted, qualified headhunter to assist you is the best answer! Time is money and your people are your most valuable resources! A recruiter can help make your life easier by bringing you qualified, sourced candidates who are more likely to be a great fit within your organization. If funding the expense of a headhunter still has you worried, remember that if the recruiter does his or her job well, a new employee should be able to hit the ground running and start making (or saving) you money.
Here’s to building world class teams and organizations. I hope these tips help as you are looking for great talent to add to your team in 2019. If you are looking for additional consulting, reach out to us! www.ShannonMcKain.com
Shannon is a motivational keynote speaker and business consultant based in Dallas, TX. She has worked in almost all 50 states with audiences ranging from corporate executives to student leaders.