There is no doubt that the business world has been turned upside down over the last four months and now that we’re finally returning to work, the spotlight has to be on budgets and ensuring that when recruiting, each new member of your team is adding value to your company and ultimately the bottom line.
It’s been widely reported that the impact of COVID-19 is now triggering a wave of redundancies in a number of sectors across the UK. This means that the candidate pool is currently larger than ever and although that may sound like a benefit, it does mean that unfortunately the best talent may not be the ones applying for your role. This can lead to high turnover and a damaged brand not to mention the wasted time and effort in the recruitment process.
Recent figures, released by Four, reported that the roles we are recruiting for are being inundated with applicants. In the first official week back following the government lockdown, the number of applications for each role reached record levels averaging an increase of 500%, This is across the board, from entry level through to director.
So why use an agency like Four when the candidate pool is bigger than ever?
As recruitment consultants we specialise in understanding the employment market, noticing patterns which emerge and being able to offer market insight on candidates, salaries and industry competitors to find the best of the best.
While adverts are attracting those actively looking for a new role it’s important to remember the strongest candidate may not even have applied. Four’s expertise lies in knowing the North West region inside out. Each consultant understands their respective markets thoroughly, enabling them to find those top tier candidates you as employers are looking for.
The Four team is supported by a database spanning 10 plus years with passive candidates that won’t apply to adverts but remain in our network. Consultants also have the ability to headhunt positions from competitors, sourcing specific skill sets that have been previously unattainable.
Use your time wisely..
Recruiters know that now more than ever time is valuable, and we want to save yours! According to statistics by Glassdoor the average length of time it takes to recruit a new employee, when not using an agency is 27.5 days! This is not only a lengthy period of time but can be a costly endeavour if the right candidate isn’t selected and you have to repeat the process just a few months later.
Why do we think this is? Well, we present candidates who are vetted, and reference checked before they even go out for interview with our clients. Candidates are fully briefed and prepared on what lies ahead in terms of the role and business culture and are therefore more likely to be successful.
If after all that, the candidate doesn’t work out in the first three months, we provide all clients with a replacement free of charge. Recent analysis recently completed by Four however, confirms that only 2% of the candidates we put into roles don’t work out, so the chances of this happening are very low.
Money, money, money..
With the current uncertainty surrounding the UK’s economy it’s not surprising that businesses have reshuffled their company structures and as a result may be looking to cut overheads. When it comes to budgets it may feel more efficient to recruit direct however, the cost of the recruitment process when recruiting internally, is one which comes with a hefty price tag.
Glassdoor’s 2019 statistics found that the recruitment process, when completed internally for entry level roles, costs approximately £3000 per new employee. It’s difficult to imagine what this cost would be if it were a more senior level role! Add to this the 27.5 days of your time we’ve already mentioned, and the costs are considerable. Surely if you’re investing that much you want to be sure you have the right person for the job?
By using Four you’re guaranteed value for money; on top of our extensive knowledge of candidates we conduct in depth registration interviews, complete qualification and employment reference checks and offer a range of pre-testing options ensuring top quality applicants.
Still not convinced it’s worth the investment?
Analysis of placements made by Four shows that 82% of our candidates are still in their roles, twelve months after starting. This is an incredibly high success rate in comparison to a study conducted by citation (a leading HR, employment law and health and safety advisor) which found that out of 1000 respondents 55% said that they had left a job at some point in their career within 12 months of starting.
We believe that the benefits and value of a recruiter cannot be disputed, so if you think Four could help you find your next candidate contact us now on 01204 326 444.