Can Recruitment Agencies save you time and money? Recruitment is rife with interesting facts, that may shock you and change the way you approach employment in the future.

These are facts we feel every business should know.

Here is a quick and informative blog post that very well, may save you time and money as you move your business into 2020. As they say… ‘Keep it simple, stupid!’, so that’s exactly what we’ve done!

The Surprising facts

Up front, hiring through a recruitment agency might seem like an expensive way to bring new people on board. However, bringing recruitment in-house has several hidden costs that may have not been considered. These costs even if thought of, are usually largely underestimated.

First of all, hiring isn’t a 1-man job. On average the hiring process is decided between 3 members of management.

Hiring a new member of staff will take up A LOT of your managements time. Without the help of an agency, this process will take your team upwards of 10 weeks. In many cases this number can increase indefinitely.

You know what it takes to hire; endless CV’s, a non-stop ringing phone and a string of emails from applicants. Let’s not forget that your job needs to still be done! No wonder work related stress is rapidly rising.

We have so much to achieve in our day to day work. When an unplanned hire comes along, everything goes into hyper speed.

With that said, your management will spend an average of 10 full days, doing all recruitment-related tasks.

That’s a time cost of £8,008.

Are these numbers correct?

The number exceeds our first predictions too… We didn’t pluck this number out of thin air; you can see all you need to on these figures here. A very insightful read into the cost of recruitment.

So, we unravelled the numbers ourselves, and it makes a lot of sense.

Let’s say an average managers salary is £50,046 per annum. Productivity loss throughout hiring totals out at £6,007. Collating this with the cost of managements time of £2,001.

It’s starting to make sense.

Already, without unravelling numbers further, the cost of a recruitment agency is substantially lower. To add; these are figures based on a typical salary hire of £40,000 per annum. So, you can give or take depending on the cost of salary you would normally hire.

As we all are, you’re likely strapped for time!

Do you know how long recruiting will take if it is done in-house? 10-12 weeks. On an unplanned hire.

If you don’t have the resources to move quicker than this, you may lose out on quality candidates.

Recruitment agencies will reduce your recruitment time by 6 and a half weeks. Most instances pulling in at 3.5 weeks.

Speaking as a recruitment insider here at TurnerFox – We’ve been known to do this MUCH faster.

The reason behind this is simple, recruitment agencies are constantly looking out for and bringing in local talent within specialised areas. In recruitment, we’re the city of industries that never sleeps.

The crux of this is, we can do your recruitment more efficiently and effectively. When it comes to connecting people, it’s what we do, and it’s what we know!

We want you to be as informed as possible, and sometimes finding these statistics can seriously be like trying to find a needle in a haystack.

Time For Your Is Money

We have created an infographic containing much of what this paragraph is about.

We know you don’t want to pour through a 2000-word posts.

Keep on scrolling to read the infographic and continue with this blog post!

As we mentioned before, we fully understand that time is money. It’s at the root of everything we do. We understand carrying out medial recruitment-related tasks on your part, is not good time management.

Productivity during this hiring process will take a nosedive. Everyone, and we mean everyone underestimates how long these process’ take.

The only way to increase productivity whilst recruiting is to take it out-house. Let the experts consolidate this work and allow you to do what you do best… your job!

We aren’t trying to sugar coat it. This is still based on the facts. We’re a business, and we provide one of the most helpful solutions. Of course, we and other recruitment agencies come at a cost.

A cost, non-the-less that will save you in the long run.

Recruitment agencies often come out as the cheaper and (much less) stressful option.

With the right resources to hand, we find better, well-matched applicants. Applicants with a higher rate of sticking with your company.

Is this true? I hear you ask… Read up a little more here.

We don’t just find people jobs; we connect the right people.

The most valuable services we recruitment agencies can offer is work-load consolidation. Meaning we pull together the best CV’s, relevant questions and other ad-hoc tasks into one email or phone call.

Lightening the load and the stress.

Finding the Best of the Best

Recruitment agencies are constantly on the look out for the best.

Sourcing the best spans beyond the usual suspect job boards too these days. Sometimes, you must get creative!

Most agencies are specialised in their area of recruitment. Whether it’s commercial, Engineering or Technical. They have an excellent pool of candidates ready to go. Or at least the means in which to source a new well-matched candidate quickly.

Knowing how to present your ads can throw another challenge your way. Presentation is crucial and you must know the right key words for your vacancy.

We see time and time again, business’ using the wrong phrasing when it comes to position titles. This alone, can cost you quality candidates.

Here at TurnerFox all candidates that we pass on are fully interviewed first. Ensuring when they meet with you, they are the right fit. With their experience and personality type. Culture fit is just as important as experience.

It is this deep understanding of people, that makes an agency good, or bad. We are a business of connecting the right people.

If you’re slow in your recruitment. Chances are, people will move on. If your competitors act quicker, they may be winning out on ideal candidates. The market moves fast, and you’ve got to be ready to keep up.

Sometimes, juggling so many balls can lead to dropping the ball so to speak. Another good reason to consider out-sourcing.

50% of job offers are turned down, this should always be factored into your recruiting process as well.

Yep, if it wasn’t stressful enough – half of your job offers are turned down. Time to start again!

Understanding the employment market

With the rise of the Millennials and the Gen Z workers, the employment market is a totally different beast to what it was even 5 years ago.

Added on top of that is Brexit, which adds so much uncertainty in the current employment market.

Employment has been steadily rising since 2012. Unemployment is at its lowest since the 1970’s.

It seems, we might finally be seeing a plateau in employment and unemployment within the UK. We’re seeing no sure signs, but it may be worth checking out some of these websites to see what is happening.

https://www.cipd.co.uk/news-views/brexit-hub/workforce-trends

https://www.securitywatchdog.org.uk/latest-news/2018/how-will-the-uk-leaving-the-eu-affect-employment-in-the-uk

https://www.reed.co.uk/career-advice/brexit-britain-five-ways-leaving-eu-could-affect-your-job-search/

It pays to be across what is going on. Its understandable though that you do not have the time to investigate movements in the employment market.

Time is our most valuable resource as humans. Ironically, the one most of us are helplessly short of.

Inner workings of the employment market

Most recruitment agencies understand the inner workings of employment. This is how they spend their days. We’re constantly across what is happening in the world of work.

The pro’s list of utilising recruitment agencies *cough, our recruitment agency, cough* just keeps on growing.

Recruitment is a big ol’ can of worms. That’s why we exist, to help you.

Another extremely important factor when hiring a new employee, is knowing how to bench mark their salary. So, this is very much links with what we have just discussed. You have to know what other similar companies are doing and furthermore, the entire market.

The salary benchmark, will drastically alter the tier of candidates you pull in. This doesn’t strictly work with higher tiers either. It just has to be right, too high or too low. Can cost you.

There is information overload when it comes to employment facts and statistics. This post already feels this way. Regardless of how simply we unpack the information.

You can spend hours going through sites and news channels to find out all you need to know; the information is certainly out there. But it isn’t always the easiest to find.

Recruitment is certainly something you can go alone > but you must know the true cost of this.

Interestingly, did you know? As a company you will likely only 2-3% of matched candidates to your job advertisement. It’s certainly worth noting that agencies pull in at a much higher 20%.

The pros won’t stop coming!

Professional Relationships

Recruitment agencies have an excellent network of contacts in their area. From clients to candidates. This gives great insider knowledge of what is happening in the local area. What the market is doing and what most importantly people are doing within different industries.

This information of course is locked down. But this can make a large impact on the hiring process.

Essentially in recruitment, business’ go in blind. Which is understandable, there isn’t really a reason for management to be across everything mentioned. You also aren’t to know much of this, unless you work in recruitment.

Once you begin a working relationship with a recruitment agency, the whole process becomes more steam lined.

Less work, less stress, more you time.

We have some amazing long-standing relationship with clients here at TurnerFox.

If recruitment is all brand new to you. You can expect this working relationship to grow as you learn how to work with us, and us with you.

Having everything managed from start to finish, and to have support throughout your hiring process, can help in ways you may have not imagined. This process is never easy or straight forward. Just here at TurnerFox we have some of the most weirdly wonderful stories.

Circumstances arise that are totally unprecedented and will throw you through a hoop.

People are unpredictable, but we can help eradicate as much unpredictability as possible. Connecting you with the highest success rate of people.

There is no way to prepare for this. Having an agency on your side can really improve your chances of handling some of the strange people may throw your way.

Seasonal Demand

Management is often over-worked. Time is never on your side.

So, what do you do when a busy season arises? Can you put your work on hold for 2 weeks whilst you pull in 15 temps?

Chances are, this is by no means feasible. Your slowing of productivity will likely have an impact on business activity.

This tends to be true especially around the Christmas period.

Stop.

We can help you! This isn’t a point of selling, but a point of fact. We spend our days connecting with people. Finding the best talent, interviewing people and prepping them. We have the time and resources. To put it simply.

We can do your recruiting, quicker and more effectively. Reducing chances of dropout too.

Your productivity output can nosedive in times of recruiting. Tasks are re-diverted to yourself or other members of staff. Jobs aren’t fulfilled to their best. Things get missed. We’re only human.

The point of this, is to know that we can save you time and money, and to simply make your life easier!

Like any other service, we’re here to help you do your job better.

If you have recruiting needs or have any questions about any of the subjects discussed in this post.

Feel free to reach out to us on 01623 656 303.

Or recruit@turnerfox.co.uk .

Finally, more information is available on our website.

We look forward to chatting to you and helping your business.