Sometimes, finding the right fit for your company can feel like a daunting task. While the allure of DIY recruitment might seem like a cost-saving solution, the hidden costs can often outweigh the perceived benefits. Here at Halo Resourcing, we’re recruitment experts who understand the true cost of hiring – and it’s not just about the upfront fees!
Beyond the Pound Signs
Trust us, we get it! Saving money is a priority for businesses all over the country but it’s important to look beyond the initial cost savings for those that might end up coming down the line.
Advertising expenses: Posting job ads on various platforms can quickly add up, especially for specialised roles or those requiring wider reach. DIY recruitment often requires multiple platforms, multiplying the cost.
Technology costs: Effective recruitment often involves Applicant Tracking Systems (ATS), background checks, and other software solutions, which can be expensive, particularly for smaller companies.
Time spent screening and interviewing: In-house recruitment can consume valuable time from key personnel, impacting their core responsibilities. Sorting through CVs, conducting interviews, and following up with candidates is time-consuming and is often better spent on core business activities.
Training costs: The truth is, most hiring managers lack the expertise to conduct effective interviews, leading to biased assessments and potentially bad hires. Training them requires additional investment adding another layer of expense.
Cost of bad hires: A single bad hire can be incredibly costly, considering lost productivity, onboarding expenses, severance pay, and the impact on team morale.
The Time Trap
It’s not just the financial costs associated with in-house recruitment, but also what we call the Time Trap. The cost of time and resources.
Reaching out to potential candidates, building relationships, and attracting top talent requires dedicated effort and expertise. Key employees, like managers, get pulled away from their core duties to manage the recruitment process, impacting the day-to-day operations.
Then it’s time to schedule and coordinate interviews, manage candidate communication, and handle the admin aspects which can be time-consuming and disruptive.
Missed Opportunities
At this point, it’s also worth mentioning something that lots of employers don’t think about – missing out on ‘Passive Talent.’
DIY recruitment often focuses on active job seekers, but there’s another group called passive job seekers. These people are currently employed and wouldn’t consider themselves to be actively looking for a new job but would be open to a good career opportunity if one came along, and, here’s where it gets interesting – passive job seekers make up 45% of the eligible workforce!
Because most businesses don’t have access to these passive candidates, they are missing out on a vast pool of talent who may be the perfect fit.
Investing in Expertise: The Value of Partnering with a Recruitment Agency
By partnering with a reputable recruitment agency like Halo Resourcing, you gain access to a wealth of expertise and resources that can save you time, money, and frustration. For instance, our clients enjoy:
- Access to a wider pool of qualified candidates, including passive talent, through established networks and industry knowledge
- Streamlined processes and technology: Expertise in utilising Applicant Tracking Systems, conducting efficient pre-screening interviews, and managing the recruitment process effectively
- Competitive fees that often outweigh the hidden costs associated with DIY recruitment
- Expertise in candidate evaluation, skills assessments, and reference checks, minimising the risk of hiring the wrong person
- Time and resource optimisation: Freeing up your valuable time and resources to focus on core business activities
The Bottom Line: Don’t Be Fooled by the DIY Myth
While DIY recruitment might seem like a cost-saving option at first glance, the hidden costs can quickly outweigh the perceived benefits. Partnering with a skilled recruitment agency can save you time, money, and resources while ensuring you attract the best talent to drive your business forward.
Contact our team of recruitment experts today and let us help you find the perfect fit for your company. Call 01908 229589 or email recruitment@halo-resourcing.co.uk