Many businesses are looking for ways to reduce their outgoings in light of the ongoing financial issues the country faces. However, if you are thinking about cutting your recruitment support services, you may end up costing yourself more in the long run. We’ve shared some of the hidden costs and dangers that you need to be aware of before you make your decision. Discover more about the hidden costs of hiring without recruitment support.
Recruitment Takes Time and Effort
Doing your own recruitment requires a significant amount of time and effort. You must set agendas, advertise roles, shortlist, interview, and handle paperwork. Each task demands dedicated recruitment time for productivity.
Shortlisting Can Be Difficult
Even if you have time for recruitment, effective shortlisting often needs support. It includes reducing bias and understanding resumes. Having a recruitment specialist is better than going alone.
Recruitment Can Be Costly
When you use a recruitment specialist, they handle finding candidates. They present them for you to pick from. Doing it on your own requires advertising in high-interest locations, often costly. Avoiding large job platforms might seem cost-effective. But it reduces reaching quality candidates. Mining passive candidates from competitors can be time-consuming and costly.
Interviews Take Up Your Time
Once you’ve worked through your adverts, sifted the applicants, and arranged your shortlist, you will then need to find the time for interviews. For many companies, an interview panel consists of more than one executive, meaning that you will need to schedule times to suit each person’s calendar. When you consider the role an executive has in your firm, taking up their time with interviews is an expensive and time-consuming process that will leave them with less time to focus on the business.
Negotiations Can Be Hard
When you find a candidate you want to appoint, negotiating a fair salary is challenging. It requires extensive knowledge of compensation and confidence to offer more or stick to a budget. Many executives feel prepared but discover it’s a niche skill requiring recruitment experience.
Recruitment Results Can Be Ineffective
If you’ve managed the recruitment process alone and hired a candidate, challenges may remain. Creating your process can lead to ineffective hiring practices, resulting in mismatched hires. The cost and time it then takes to support or remove that person will ramp up significantly, leaving you in a worse position than when you started and requiring you to find a way to streamline the process for the most successful outcomes.
Get the Right Recruitment Advice
If you are keen to get recruitment advice that works for your needs and your budget, don’t rule out recruitment support from professionals like GeneCoda®. We can work to create a bespoke recruitment solution that meets your needs and gives you access to the best candidates on offer. Reach out to our team today and find out more about how we can help you.