No matter the unemployment rate, the degree of difficulty involved in finding top-tier talent remains the same. That was true before the Great Recession, and it’s true today.
Actually, it could be argued that for companies attempting to find the candidates they need on their own, the difficulty is even greater. That’s because with as many job seekers as there are in the marketplace, those companies can quickly be overrun with resumes and applications.
As a result, it takes longer to find the candidates they want to interview and potentially hire, and by the time they do find them, those candidates are typically no longer available. Needless to say, that’s a misuse of time, energy, and resources.
On top of that, there’s the cost of keeping a position open for an inordinate amount of time, not to mention the cost of a bad hire. The cost of the latter is especially expensive, depending upon the position involved.
Taking all of that into consideration, below are four main reasons why companies use executive recruiting firms to find top talent:
- Time savings—As discussed above, a company’s HR department can be overrun by resumes and applications, keeping it from making any substantial progress in its search for qualified candidates. Executive recruiters take care of almost everything, meaning that company officials can devote more time to their everyday tasks, increasing their productivity.
- More passive candidates, less active job seekers—While active job seekers aren’t necessarily bad, chances are good that passive candidates aren’t going to apply to online job postings. In fact, some of them aren’t even really looking for a new job. However, they would be open to considering a new opportunity . . . IF that opportunity was presented to them. Executive recruiters know where these passive candidates are and how to present such opportunities.
- A partner throughout the entire process—A quality recruiting firm will partner with a company throughout the entire recruiting, interviewing, hiring, AND on-boarding process to ensure a successful hire is made. A recruiter’s work is far from done once the candidate accepts the company’s offer of employment. That makes the company’s job far easier to accomplish.
- Eyes and ears within the industry and in the marketplace—Executive recruiters work “in the trenches” day in and day out. They know what’s happening in the employment marketplace overall and their clients’ industry in particular. They know what the top talent is doing, and they know what the top companies are doing. This is all information to which companies want access, and they have access when they partner with a recruiting agency.
Many companies partner with an experienced recruiting firm to find the candidates they want, and they do so for the reasons listed above. If you have an important position you need to fill or you want to stay more in tune with industry developments, align yourself with such a firm.
We help support careers in one of two ways: 1. By helping find the right opportunity when the time is right, and 2. By helping recruit top talent for the critical needs of organizations. If this is something you would like to explore further, please send an email to firstname.lastname@example.org.