If businesses think hiring a skilled recruiter sometimes has too high a price tag to warrant, wait until they experience the cost of hiring an amateur, or not hiring one at all.
With the average cost of replacing an employee suggested to crest £30,000, there’s a very good reason recruiters are worth their salt.
According to Oxford Economics it takes almost 28 weeks for a new employee to blossom into their full potential, which is why, if after 14 weeks you find your candidate is the wrong fit because they haven’t been properly vetted, then the cost is going to hurt when you have to repeat the process.
Time is money
It’s an old adage that holds true in business, so instead of obsessing over how much a recruiter will cost, it’s more a question of how much money you might lose by not using one.
You’re essentially paying to outsource the time of drafting up a job description, distributing it across the right channels, sifting through CV’s, vetting the candidates, interviewing them, and dealing with all the other ancillary tasks that go hand-in-hand with the recruitment process.
It’s fair to say that the best candidates for a role are more often than not, those that are not actively looking.
A skilled recruiter will have their finger constantly on the pulse of various networks so that they know who the best candidates are, where they are, what the hot projects people are involved in, and the right approach and means to draw them out.
The more suitable the candidate is for the role the less they need to learn and consequently, the bigger savings on training costs.
A costly mistake
A recruiter is there to pair the right talent with the right role. The more adept the recruiter the quicker and better quality the result.
When speed is a necessity, as can often be the case with replacing staff, you want someone who is professionally tasked with talent acquisition to handle the recruitment process. Otherwise, employers may fall into making a hasty decision that in turn will cost their business more in the long run.
Once a candidate’s in the door it’s then the job of the employer to keep them there.
Calum is the Content & Marketing Executive for Sonovate, a financial provider for agencies placing contractors, that was set-up by recruiters for recruitment. It guarantees 100% weekly profit with the technology to eliminate the administration of running contractors.