When you’re looking to fill a position in your company, there are a lot of things to think about. You need to find the right person for the job, and that can be a difficult task. Most of the time, managers and executives are the ones who are required to conduct the search, perform the interviews and onboard the new employee. But unfortunately, many companies, especially those hiring for the first time, underestimate how much time and money it costs to hire someone.
The hiring process doesn’t just stop at finding the right person, it includes everything from advertising the position to conducting interviews and finally onboarding the new employee. And it can be very costly if not done correctly. Before hiring your new employee, consider the following hidden costs of not using a recruitment firm.
Hiring Process is Very Time Consuming
The hiring process can be a long and challenging task for employers. From posting job listings to conducting interviews and background checks, finding the right candidate can often take weeks or even months. Time is money, and your managers and executives should be focusing on their daily tasks, not spending hours trying to fill an open position.
But recruitment companies have already streamlined this process. By utilizing applicant tracking software, they can weed out unqualified candidates and save time in scheduling interviews. Specialized recruitment companies also have a list of pre-set questions that are targeted and specific to speed up the process. At the end of the day, thoroughly analyzing each potential hire may add some extra time to the hiring process, but it ultimately ensures that employers end up with a qualified and efficient employee. That is something recruiters are willing to do.
Making Bad Hires
Hiring the wrong employee can be a costly mistake for any business. Not only does it waste valuable time and resources, but it can also impact morale and productivity among existing staff. trust your instincts; if something doesn’t seem right or you have any doubts, it’s better to keep looking for the right fit instead of settling for an underqualified or problematic employee.
Since recruiters interview and work with hundreds of candidates, they can spot the signs of a bad candidate very early on. They know what to look for in an interview and can often identify those who are simply trying to get any job they can This saves businesses the headache of having to deal with a bad hire down the road.
As a potential employer, it is important to conduct thorough background checks before making a hiring decision. Checking references helps to ensure that you are making the best possible choice for your company. You can gain valuable insights into a candidate’s work ethic and performance history by reaching out to prior employers and coworkers. Again this can take a lot of time, something business owners or their employees might not have time to do. Recruiters helps alleviate this responsibility by doing it. They sometimes have specialized software that helps streamline the process.
Networking at Jobs Fairs and Other Events
Attending events such as job fairs and networking mixers can be a great opportunity to meet potential employees and make connections in your industry. Again this can cost a lot of money and time away from other tasks.
Recruiters make time to do this. Especially if they are specialized in your specific industry. Their job is to network and build relationships with potential candidates. Saving you time and money.
The hiring process is long, but rushing through it will only result in more time wasted down the road if you make a bad hire. This is why checking references and networking at events are both so important; they help give you a better idea of who the person really is. If you’re struggling to find the time to do all this, or just need some extra help, reach out to us. We would be more than happy to assist you in finding your next great team member.