Recruitment Solutions: Candidate Attraction
I have written many posts regarding the effects that the multi-agency contingency model has on the recruitment market. The key complaints are poor candidate experience as well as the terms of business for both the recruiter and the recruiting company. Over the last couple of months, I have spoken with many of my HR network and discussed how I could overcome these issues.
Throughout this discussion, it became clear that the issues arose when multiple parties were active in the process. It was widely agreed that if you want an external supplier to manage the whole assignment for you, then by simply moving to an exclusive/retained relationship, the above problems could be easily rectified. Where it becomes more difficult is when some direct activity has also been undertaken. If for instance, you want to benchmark your direct response against the network of a Specialist Recruiter, then it starts to complicate matters as not only do you have candidates managed by different parties, you are also bringing a fee implication into play.
We know that recruiters working within the contingency model, have a c25% success rate, which means they have to work on 4 roles to create one placement fee. So, by this logic, every time you pay a recruitment fee on this basis, you are paying for the work that they have done on those other assignments where no revenue was generated. The reason that recruitment fees seem so high, is because most of the time when you engage an agency, you don’t actually pay them anything. But when you do, you pay them a lot!
In my opinion, and it will be interesting to see who agrees, there is a solution. If you want an external supplier to help you with candidate attraction and use their networks to ensure a well-rounded shortlist, then why not simply pay them to do just that. Instead of having this lottery of a big fee if they strike gold, how about working out exactly what you need from them and then paying them for their time to do that.
This is why I have introduced a simple Candidate Attraction solution. I will do the work to create a candidate pool for your vacancy and you can then introduce them into your process and ensure all candidates are receiving the same input as you move through the assessment / interview /offer process.
Where will this work?
The solution is very flexible and so can be applied in a number of ways. In my opinion, I feel the most value will be gained in the following scenarios:
- You have undertaken some direct recruitment activity, but you want to ensure the best possible shortlist has been created. Let’s face it, if there was no cost implication you would not hesitate to use a Specialist Recruiter. When there is a potential fee implication of 20-25% of salary, it is understandable that organisations want to do as much of their recruitment directly as they can. This does, however, mean that they are not always fully exploring the market, rather processing those that have applied directly. This solution offers a cost-effective way to solve this issue, as well as leaving you in full control of your process. I am happy as I have been paid for the work that I have done. You are happy as you are comfortable that you have the best possible shortlist. One of those win-wins we talk about!
- Your in-house resource may be occupied elsewhere, or not have the depth of network for this particular role. You can use this solution to benefit from the network and experience of myself and my colleagues to create a strong candidate pool. Once this pool is created, you can take over and manage the assessment/interview/offer process as you normally would do.
Check out how it works on the link below!