It’s a competitive full employment market right now, with UK unemployment rates running at a record low rate of just 3.8%, businesses are doing all they can to reach and engage with the best candidates. Read up on how smart businesses are outsourcing their recruitment and talent attraction…
Alright, some businesses are immune from these challenges, (last year it was reported Google received over 2 million job applications! Skills shortage – what skills shortage?) however, for most of us not gifted with the best employer brands and the largest hiring budgets on the planet it can be a struggle to find engage and attract top talent to help us grow and excel.
For those seeking to thrive in a competitive candidate market, smart businesses outsource their talent attraction and recruitment function to save money, reach larger audiences and benefit from a wider level of recruitment expertise.
Below you’ll find the top 5 reasons why you should seriously consider outsourcing your talent attraction function…
Access Larger and Better Talent Pools
Many employers don’t go all in, expecting their in-house recruiter to work off their own initiative to find the best candidates and direct source. Whilst it is certainly possible to fill jobs this way, the question is does it give your business access to the best candidates?
Thinking logically, if you increase the audience reach then you will increase the overall quality of candidates and applications (which in-turn will increase the quality of your business).
Outsourced talent attraction companies will have all the best tools available at their fingertips and will be well versed on how to reach the best candidates on the market, whether this is via LinkedIn Headhunting, Job Board Database Searching, Social Listening, Advertising or Industry Knowledge (i.e. a little black book).
Outsourcing your talent attraction will give you immediate access to extensive talent pools without having to sign up to any contracts or licenses directly.
Expert Advice on Tap
By outsourcing your talent attraction process you’ll be able to partner with multiple people who are specialists in a variety of direct sourcing, recruitment and HR techniques. This collectively gives you access to a much higher level of expertise than you may get with just a single internal Recruiter.
It is extremely rare (I’ve never personally met one) to find a Recruiter who fully understands the intricacies of hiring across all vacancy types and the methodologies needed to target the right markets and audiences. Likewise, a business owner is never going to have the time, or expertise (nor should they) to understand the recruitment landscape and be able to uncover the best candidates.
Outsource to a talent attraction company and you’ll also benefit from a different perspective, fresh ideas, cutting-edge techniques and market intelligence on how to attract that elusive talent.
Scalability and Flexibility
By using an outsourced talent attraction company you gain the ability to scale up (or down) quickly. This is a real benefit as it allows you to react to market and business conditions without physically having to hire and train more staff (or having to let them go). It’s not just staff costs you need to consider, most contracts for recruitment tools such as Job Boards and LinkedIn last 12 months and once you’re signed up there is no getting out.
An outsourced talent attraction process allows a business to grow and scale in a lean and organised way, eliminating waste in the system whilst benefiting from broad expertise. The ability to react quickly is a key driver towards success and achieving a competitive-edge.
Reduce Your Cost-Per-Hire
Hiring an In-house Recruiter / Talent Attraction Specialist is one thing, but once on-board you then have to furnish them with all the tools necessary for them to do their job effectively. Each person will have their own dedicated wish list of recruitment tools, here is a quick summary of what your typical Internal Recruiter might ask for…
- Access to a premium LinkedIn Account
- Advertising budget to spend on job boards
- An Applicant Management System (ATS)
- CV Database Access (Sourcing)
- Employer Branding Budget (Career Website etc.)
- A Training and Development Budget
Outsourcing your recruitment to a talent attraction partner will give you the benefits of these solutions without the direct cost and long-term commitment. Resources assigned to the hiring process can be reallocated to core business functions – fuelling growth, innovation, and serving stakeholders. Outsourced recruitment allows a company to focus on what they do best while providing the support and talent for you to continue to achieve your mission.
For smaller companies the economies of scale for hiring an internal recruiter and furnishing them with the right tools just doesn’t stack-up. With the average cost-per-hire for Guru averaging at £832, the need to spend thousands on building an in-house department or using traditional recruitment agencies is negated. It’s only when you start to enter the realm of hiring lots of people (i.e. 75+ per year) would an in-house team become an option.
Equal Opportunities For All
For employers it is important to be seen to promote fairness or risk reputations and in extreme cases legal action. Outsource your talent attraction and recruitment processes to a reputable third-party supplier like Guru and it’s their job to have up-to-the-minute information on legislative changes and to ensure you remain compliant throughout the recruitment process.
Over the years we’ve produced a collection of information and blogs which aid and help our clients (and staff) to remain compliant at all times.
- How to avoid unconscious bias in recruitment
- How to write a compliant job description
- Job advertising guidelines
- How to ensure your recruitment data is GDPR compliant
- Equality Act 2010
Outsource your talent acquisition and recruiting to realise the benefits of a diverse workforce, lower turnover, external expertise and streamlined hiring. Get in touch with Guru to discover more today.