Recruitment: How to improve your time and cost of hire!
We have spoken many times about the benefits of an exclusive arrangement with your recruitment partner. Our post “How you pay is what you get” goes into detail, however the case study below shows how this works in practice.
There are some common misconceptions, that retained and exclusive arrangements are only relevant for senior hire or that is not a cost effective way to recruit at an early career level. This is incorrect!
Firstly, there are many very experienced Recruiters who now operate as part of smaller entities who understand the importance of exclusive relationships and are able to tailor a fee structure to ensure an agreement that works well for both sides.
Secondly if a hire is not important to your business then you shouldn’t really be making it. Just because it is a role that requires less experience, does not mean it does not require a well structured process. If you therefore are going to use an external partner, then choose one who will be fully committed to your search and who will ensure a first rate candidate journey for those that apply. This will only be achieved when both sides are invested in the process i.e. retained/exclusive arrangement.
At RAD Human Resources our goal is to find customers who believe what we believe and work together so that we can all succeed. With this in mind we offer a range of flexible solutions that are a fair deal for all involved.
The case study below details an Early Career level assignment where we took responsibility for the full life cycle resulting in successful appointments across multiple vacancies.
A growing technology business with offices across the UK, Europe, Asia and US.
Operating in a highly candidate led market, the organisation experienced a number of recruitment challenges, particularly surrounding the recruitment of permanent IT professionals. A combination of shortage of local skills and higher wage availability in London/M4 corridor meant hiring suitable candidates without breaking local wage structures was very difficult.
With this in mind a decision was made to hire a number of graduate/early career level candidates and put them through a structured development plan, rather than focus purely on the recruitment of experienced candidates.
We proposed a full life-cycle solution, working on an exclusive basis, handling all aspect of the assignment. This included an online advertising campaign where we created all copy and distributed on both specialist and generic job boards. We also created a number of targeted Facebook posts as well as sharing through other social media channels. Our Resourcing Partners also ran multiple searches through various online CV databases, ensuring that all angles were covered.
Applications were then screened, with relevant options entered into the selection process. Once we had briefed and gained interest from suitable candidates, we asked them to undertake a short video interview, consisting of 5 x 1 minute questions that were designed to showcase both personality and technical understanding.
The short list for each role was presented, which included a full candidate profile with URL for each video that could be viewed by the hiring manager and shared with other team members for group feedback.
The results were very positive, with all 3 vacancies making it to offer/acceptance.
The organisation favoured a one stage on-site interview process. This included both technical and HR led interviews, as well as company intro and meet the team etc. This was designed to reduce travel/time costs for candidates and keep the process moving swiftly for hiring managers. This process works well, however some previous frustrations had existed when poor quality applications had slipped through the net and time had been allocated to the process with little chance of a return.
Hiring managers reported that the information they received from the video interview, along with their first stage telephone interview, allowed them to make decisions on who to progress with much more confidence. This included candidates based outside of the UK.
The results of this were evident in the low final stage interview to offer ratio. The clear advantages of this are time efficiency for managers as well as a strong candidate experience as applicants were moved through the process swiftly and were not investing time and money into a process where they had little chance of success.
This assignment was agreed on an exclusive basis for an initial 28 day period. Due to issues of confidentiality, we did not use branded advertising and so no advertising retainer was paid. This would normally be in the region of £199+VAT for positions at this level.
The recruitment fee for each position was 10% of the annualised salary. The total invoice for the 3 positions was £6800 + VAT. This included a 12 week rebate period.
“I have worked with RAD on many previous occasions and so I was happy to help them trial their new SME recruitment solution. Recruiting at this entry level, can be a time consuming process as many of the CVs and experience of the candidates is similar as the majority, by the nature of being recent graduates, have limited work experience. I was interested to see how the video interview technology would support the process and I am pleased to say that the results were very positive. The feedback from managers was very encouraging, as the 5 minute video interview allowed them to get a better insight into each candidate and helped to streamline the selection process. We were able to reduce down the number of telephone screenings we were undertaking and were able to concentrate on the technical testing of the applicants. I was further impressed with the fee structure that has been put in place and felt that their solution added a lot of value to our recent recruitment activity. “ Senior HR Business Partner, Technology Sector
If you are interested in exploring a modern approach to your recruitment needs, then get in touch and we will happily arrange a time to discuss further.
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“Paul Withers is an experienced Recruiter with extensive exposure gained across a diverse range of industry sectors. Equally happy working at entry through to director level, he is well placed to advise on any recruitment or job search challenges that you may be currently facing.
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