Are you seeking the assistance of a recruiter to find excellent new hires for your company? It’s important to understand the different types of search firms before making your decision.
Types Of Search Firms
HR departments, hiring managers, and administrative staff may each play a part in recruiting. When a company has an urgent hiring need, however, it can overwhelm your current resources. Here’s where recruiting firms can help. There are various services companies can use if they need to source, hire, and develop staff and can’t afford to do so internally.
Learn more about retained search, contingency search, full-scale Recruitment Process Outsourcing, on-demand RPO, and staff augmentation/placing consultants. TruPath also offers direct hire and contract-to-hire services.
Some recruiting companies step in for internal recruiting staff to recruit, while others (such as contingency search) work with existing recruiters, HR staff or hiring managers to successfully carry out recruiting needs.
Retained Search Firms
Retained search firms offer search services for senior-level positions. These are high-end agencies that receive an upfront fee to perform a specialized search. These firms work on an exclusive basis and usually charge 30-35% of the position’s salary.
Contingency Search Firms
Another one of the primary types of search firms is a contingency firm. They find candidates for clients and receive payments when their candidate gets hired. Their search fees typically amount to 20% of the candidate’s salary. Unlike Retained search firms, Contingency agencies do not necessarily have an exclusive agreement with clients. Therefore, they typically handle a larger volume of recruiting activity.
Full-scale recruitment process outsourcing is a part of business process outsourcing that transfers recruitment activities to an outside service provider. The Recruitment Process Outsourcing Association defines it as “when a provider acts as a company’s internal recruitment function for a portion or all of its jobs.” In RPO, versus other types of staffing assistance like temporary agencies, the RPO service provider controls the process for the client company. RPO is utilized when a company experiences high volume staffing needs that internal HR can’t cost-effectively handle along with their core responsibilities, or when there is no HR function in the company. It provides economies of scale at an economical cost when implemented properly along with corporate strategy.
On-demand outsourcing offers recruiting, sourcing as well as coordination on an as-requested basis — rather than through long-term contracts. Companies utilize on-demand RPO firms for full-on recruiting or just the areas they need help with, like coordination of interviews, candidate management/communications, reference & background checking and onboarding. On-demand RPO boosts recruiting quality while also saving money. Companies reap the benefits of experienced recruiting service providers, but they solely pay for the services they need. Thus, they are not totally locked into contracts or contract payments, and they can add or drop services at any time.
Staff augmentation can help you staff a project or high-demand business objective using consultants instead of permanent employees. It’s often used place contracted IT professionals on a consulting basis in projects including web/software development and network engineering.
There are plenty of reasons to work with recruiting companies like TruPath. It helps improve the quality of prospective employees, keeps recruiting costs down, and supports business growth without overwhelming your in-house staff. Also, it allows for the use of helpful recruiting technology and experience.
Contact TruPath today to discuss your hiring needs.
As a trusted recruitment source for more than a decade, TruPath has the industry knowledge and a proven model to help our partners feel comfortable in their search for a candidate.
Through our TruProcess, we are able to consistently deliver exceptional candidates that help organizations continue down successful paths. Contact TruPath today in order to tell us about your staffing needs.