7 Advantages of a Recruitment Agency: Why You Need One in 2022 and Beyond
Curious as to the advantages of a recruitment agency? In today’s hyper-competitive job market, finding highly-qualified candidates quickly can be a considerable challenge. Recruitment agencies can help.
Regardless of your company size, recruitment agencies can offer substantial benefits both in terms of time and budget. Small and mid sized companies who do not have dedicated recruitment professionals are typically resource constrained and benefit from outsourcing recruitment processes by freeing up internal resources to focus on their core tasks, which in turn increases overall company productivity. Large companies often find that staffing agencies are the best way to access highly-skilled candidates, including those that aren’t actively looking for new positions.
By leveraging the expertise of a staffing company such as Quest Financial, companies (regardless of size) not only get access to a vast database of pre-vetted candidates but also benefit from the staffing/recruitment companies' technology to increase speed and quality by quickly matching qualified talent to the relevant job openings.
In this article, we’ll discuss the role of recruitment agencies and their various advantages.
What is a Recruitment Agency?
Before diving into the advantages of a recruitment agency, let’s define what one is. Recruitment agencies are external companies that use industry expertise to find the best candidates for employers quickly.
Especially in today’s market, hiring the right candidates has never been more essential – or challenging. That’s where recruitment (otherwise known as staffing) agencies come in. The role of recruitment agencies is to help companies save time and money and access a more comprehensive network than they may otherwise be able to utilize.
Let’s take a deeper look at 7 advantages of a recruitment agency.
Advantage 1: Quicker Hiring
One of the quintessential advantages of a recruitment agency is its ability to quickly fill your company’s open positions. These firms have access to a vast talent pool and an extensive network of connections to leverage. Many will also use hiring tools and systems to locate top-notch candidates.
Given that job vacancies cost an average of $98 per day, consider using a recruitment agency if you’ve unexpectedly lost an employee or otherwise cannot afford a position to sit open. Considering the average position takes 42 days to fill, the expedited time-to-hire saves you a significant sum.
At Quest Financial, we focus on submitting qualified, available, and interested candidates within an average of 5 business days after receiving a client direct-hire job order; 3 business days for contract or temp-to-hire. We control the candidate submission timeliness and work diligently to get candidates scheduled for interviews quickly. Learn more today!
Advantage 2: Higher-Quality Candidates
Top candidates are on the job market for an average of 10 days – that’s not a lot of time to get their attention. Recruitment agencies have access to a vast pool of pre-screened and referenced talent. As a result, one of the many advantages of a recruitment agency is access to these highly sought after, higher-quality candidates.
An important component of this is the work staffing agencies put into vetting candidates before you even see them. Their talent pool is pre-screened and must often pass tests before they become eligible. These tests are dependent on the exact vertical but can include software program knowledge or typing speed tests. Thus, the benefits of using a recruitment agency include access to high-caliber candidates that should thoroughly meet your expectations.
Advantage 3: Industry Expertise
One of the advantages of a recruitment agency includes the firm’s industry expertise. The role of recruitment agencies is to work every day in their selected verticals, committed to sourcing the best talent. This means they’re experts in job markets, both locally and beyond, and are knowledgeable on candidate expectations, employer needs, compensation averages, and more.
Recruitment agencies’ in-depth industry expertise prevents your company from lagging behind the competition, as this can spell hiring demise in today’s fast-paced market.
Advantage 4: Better Interviews
While companies can go about the interview process on their own, one of the advantages of a recruitment agency is an enhanced interview process. These firms often conduct extensive interviews on their own, saving your company internal resources.
Additionally, given their industry expertise, staffing agencies know which questions to ask and what to look for during these interviews. They’re experts at asking the right questions and eliminating candidates efficiently. Recruitment agencies may also conduct background checks so that your internal team doesn't have to.
Advantage 5: Proper Salary Negotiation
Unsurprisingly, 70% of job seekers want information on potential salary in their initial message from a recruiter. Recruiting agencies will know the state of the job market and how (and when) to discuss compensation. Details such as these make up the advantages of a recruiting agency.
As an employer, one very costly mistake is spending significant time and energy on a qualified candidate only to reach decision time and find your salary expectations are amiss. Recruitment agencies offer valuable insights and resources to help you properly negotiate salaries and avoid missing out on the best candidates.
Staffing agencies may also negotiate on behalf of both parties and reach a mutually beneficial compensation agreement.
Advantage 6: Flexible Contract Terms
The benefits of using a recruitment agency include hiring for various positions types. These could be temporary, temp-to-perm, or direct-hire.
Thus, it’s important to note that the advantages of a recruitment agency don’t only extend to full-time hires. Next time your company has an opening for a shorter-term position, try reaching out to a staffing agency.
Advantage 7: Guarantee Periods
One of the many advantages of a recruitment agency includes their guarantee periods. If a new hire ends up being a bust, you’re off the hook financially, and the firm starts its search over.
At Quest Financial, we offer a 90-day replacement guarantee for direct hires. Temporary employees are provided as needed and are replaced upon your request if they don’t work out.
In Conclusion: Save Internal Resources & Hire Better Candidates
The advantages of a recruitment agency are abundant and primarily include saving your company time and money, all while providing access to the best candidates. Staffing agencies also have in-depth industry experience that will help guide your company’s final decisions.
Quest Financial is proud to boast over 50 years of combined industry experience sourcing the best talent for the finance and accounting sectors. Our firm believes in building strong, long-term relationships with our clients by helping them source, screen, and interview top candidates. Learn more today!