What would you do?
It’s a sad thing to say, but inevitably you will lose your best employee at some point.
They’ll be poached, retire or just want a new challenge.
So, what do you do in that scenario?
Option 1 – Quickly assign multiple recruiters
You might think that engaging a lot of recruiters will lead to quick wins.
Contingent recruiters as a business model work to find candidates as quickly as possible. The more time spent on an assignment, the less profitable they’ll be as they only earn a fee when they place the job.
There’s no insight into the personality of the candidate and their softer skills, only a robotic process of matching CV “buzzwords” to your job spec’s “buzzwords”. And as such, even when they place a candidate, 30% of the time on average that candidate will leave within 12 months – leading to an overall loss to the business of over £130000 for a mid-level management employee.
Think of throwing dirt (or something else) at a fan and seeing what sticks to the wall at the end. And dirt doesn’t stick to a wall forever.
Option 2 – Search for candidates yourself
You may think that by filling it yourself you will save the company thousands of pounds.
Time is money and the more time you spend looking for someone the less time you have to do what you do best. You also can’t compete with the resources a professional has at their fingertips to find candidates.
Leave it to the experts.
Both of those options will cost you too much money and waste too much of your time.
So, how do you save yourself that time and money when the inevitable happens?
Option 3 (AKA the one you should do) – Hire a retained recruitment partner you can trust!
Do you hire 6 accountants and only pay the one that comes back with the best results?
Of course not!
Because they’re professionals and would never agree to do it.
The retained search firm is being paid up front to conduct the search. They therefore undertake a much more exhaustive process.
The retained search recruiter cultivates contacts in sectors in which they work frequently so they know who might be restless, and pre-selects the candidates carefully using advanced assessments for suitability and job fit.
Three levels of assessment interview over just one from contingent recruiters.
You’ll only see the finalists.
Contingency recruiters and YOU can only dream of finding these people.
Average time spent on a role:
Contingency Recruiter– 10%
You – 30%
Retained Recruiter – 100%
To find out more about what you get when you hire a Retained Recruitment Partner, get in touch with us: Email: email@example.com or give us a ring yourself: 02392 292 640
Or sign up and get your FREE McQuaig Psychometric Job Profile to start your multi-dimensional recruitment process.