The success of a business greatly depends on the team that runs it. But hiring in today’s time is more challenging than ever, and retention is even harder. According to a new report from LinkedIn, 61% of American workers are considering quitting their jobs in 2023. Most of them are Gen Z and millennial workers. These numbers are disconcerting for any employer because recruitment costs are a real burden.
While finding perfect candidates for any role is tough enough, sales and marketing recruitment is perhaps the hardest. Challenges such as lack of soft skills, poorly defined roles, tight budgets and timelines, and misalignment with company culture abound. Your sales processes may also suffer due to recruitment blunders.
That’s where recruitment outsourcing can come to your rescue. The worldwide recruitment process outsourcing market stood at $4.8 billion in 2021 and is estimated to reach a staggering $26.4 billion by 2031. Undoubtedly, it can be a game-changer for businesses. But you may still have some qualms regarding letting an outsider take over your hiring process.
We will explain how collaborating with a recruiting firm like CulverCareers can drive success for your business.
1. Extensive Time Savings
The latest report suggests that the first quarter of 2023 witnessed an increase in average time-to-hire rates across all industries. With an increase of one day, the recruitment process now lasts 44 days on average. That’s a lot of time for a dynamic company looking to hire qualified resources quickly. Fortunately, collaborating with CulverCareers can address the concern.
A seasoned recruitment partner can accelerate the hiring process with its extensive outreach and broad database. Further, it does all the heavy lifting with time-consuming processes such as writing job descriptions, scanning resumes, conducting interviews, and negotiating the best offers. That means your human resource department can invest time in more productive tasks.
2. Cost Savings
The Society for Human Resource Management (SHRM) shares the new benchmarking data, suggesting that the average cost per hire in the US is nearly $4,700. The number may vary by role, but it is a big one for a small business. The average cost of a bad hire is another grave concern, as it ranges from $17,000 to $240,000.
With a recruiter like CulverCareers by your side, you can significantly reduce these costs. They have an in-depth evaluation and screening process, which minimizes the risk of the wrong hiring decision. It translates into low turnover rates, leading to long-term savings for your company. Additionally, CulverCareers offers a curated list of pre-qualified candidates to ensure starting on the right foot.
3. Access to Passive Candidates
Did you know that passive candidates make great hires? These are the professionals currently in the workforce but open to new opportunities. They have the skills and experience to make a difference. With 70% of the global workforce being passive candidates, that’s a goldmine of opportunity for recruiters. The only catch is that they are hard to find because they aren’t active in the job market.
CulverCareers can give you a head start with access to such candidates because they have pre-established networks in specific fields. With these networks in place, they know the passive candidates willing to move on to better opportunities. Picking passive candidates is like going beyond job boards to hit the real jackpots out there.
4. Employer Branding Advantage
Employer branding is a silent weapon in a competitive hiring marketplace because it attracts the best talent and boosts retention. But building a robust employer brand is easier said than done. Making a great first impression with a positive and professional recruitment process is a great start. CulverCareer gives you the employer branding advantage with its professionalism and business acumen.
Specialist recruiters have organized and consistent hiring workflows that never go wrong. Additionally, they ensure good communication with candidates throughout the screening and hiring process. They are also great at relationship building, even if immediate hiring isn’t on the cards. In-house hiring teams often fall short on these fronts, affecting the image and reputation of the company as a potential employer.
Conclusion:
A hiring partner like CulverCareers can help you ace the recruitment process and secure the best resources for your team. The best part is that you can save time, effort, and money with the collaboration. These factors are critical for a growing business that needs to scale its team over time.
Your HR team can focus on improving internal processes such as payroll, retention, and employee engagement instead of sweating over recruitment challenges. That’s the best decision you can make for your organization.
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